According to IMARC Group’s latest report, titled “Biometrics-as-a-Service Market Trends: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global biometrics as a service to continue its moderate growth during the next five years.
Biometrics-as-a-Service (BaaS) is an advanced security solution that uses an individual’s biological traits, such as face, palm-vein images, fingerprint, and iris, to authenticate a user’s access. This enables organizations and establishments to prevent data theft while offering a safeguard against cyberattacks and unwarranted access to their premises. Consequently, BaaS finds extensive applications across diverse industrial segments, including defense and corporate, for ensuring secured entry and also monitoring and tracking any case of discrepancy.
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Market Trends
Over the years, the information technology (IT) industry has witnessed an immense rise in the number of users requiring advanced security solutions to protect their properties. Besides this, governments of numerous countries have undertaken several data-security initiatives for securing highly-classified documents. These factors have, in turn, propelled the demand for BaaS significantly. Moreover, the increasing requirement for improved fraud prevention and detection systems has attracted heavy investments in the development of more advanced and efficient products with BaaS features. Along with this, the increasing integration of blockchain technologies and Artificial Intelligence (AI) with BaaS is further presenting vendors with expansion opportunities in the industry. This is expected to create a positive outlook for the market further.
Biometrics-as-a-Service Market 2020-2025 Analysis and Segmentation:
Breakup by Component:
Solutions
Services
Breakup by Solution Type:
Fingerprint Recognition
Face Recognition
Iris Recognition
Voice Recognition
Palm and Vein Recognition
Others
Breakup by Trait:
Physiological
Behavioral
Breakup by Modality:
Unimodal
Multimodal
Breakup by Rack Unit:
Above 40 RU
25-40 RU
Up to 25 RU
Breakup by Deployment Model:
Cloud-based
On-premise
Breakup by Organization Size:
SMEs
Large Enterprises
Breakup by Application:
Site Access Control
Time Recording
Mobile Application
Web and Workplace
Breakup by End User:
Government
Healthcare
BFSI
IT and ITES
Manufacturing
Education
Others
For more information about this report: https://www.imarcgroup.com/biometrics-as-a-service-market
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Accenture, Aware Inc., BioID, Fujitsu Limited (Furukawa Group), Imageware Systems Incorporated, IDEMIA France, Iritech Inc., M2SYS Inc., NEC Corporation and Thales Group.
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
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