Biometric-as-a-Service Market Size, Share and Global Market Forecast to 2027
Biometric as a Service Market
The Biometric as a Service Market is estimated to grow at a faster CAGR over the forecast period (2020-2027).
The factors driving the growth of Biometric as a Service Market includes growing demand for fraud detection and prevention systems, increasing penetration of smartphones worldwide and rising popularity of biometric sensor-based tablets and smartwatches. According to the report published by Statista, the smartphone users in India were calculated around 748 million in 2020 and this figure is predicted to surpass 1.5 billion by the end of 2040, which will boost the Biometric-As-A-Service Market size in the approaching years. Moreover, rise in the number of terrorist activities, Government initiatives to promote E-Passport programs, increasing use of biometric devices in the retail sector to save customer’s data and growing adoption of advanced authentication services, are some of the additional factors supplementing the market growth. Moreover, the integration of advanced technologies such as Artificial Intelligence (AI) and Blockchain and Cloud Computing, increasing investments by leading players on research and development, technological advancements in the Biometric as Service models and rapid urbanization, are further contributing to the market growth.
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However, the growth of Biometric as a Service Market is hindered because the biometric information is stored on the cloud.
The prominent players operating in the market are M2SYS Technology, Certisign, HYPR-DRIVE Ltd., Aware, Inc., Fujitsu, Nuance Communications, Inc., BioID, Leidos, IDEMIA, NEC Corporation, and Accenture among others.
Offering: Segment Analysis
Based on Offering, the Services segment is predicted to hold the highest market share during the forecast period attributed to growing demand for upgradation and maintenance services by companies across the globe.
Modality: Segment Analysis
Based on Application, the Unimodal Biometrics segment is anticipated to expand at a remarkable CAGR over the forecast period because these solutions are less complex as compared to Multimodal Biometrics.
Regional: Segment Analysis
As per the Biometrics-As-A-Service Market Analysis, the North American region is projected to capture the largest market share during the forecast period. The increasing adoption of advanced biometric solutions by the major corporations, rising Government’s expenditure on the healthcare sector, presence of the leading players and high per capita incomes are some of the important factors augmenting the market growth in North America.
Market Segmentation
Global Biometric as a Service Market by Offering
SolutionsBy Solution TypeFingerprint Recognition
Face Recognition
Iris Recognition
Voice Recognition
Palm and Vein Recognition
Others
By TraitPhysiological
Behavioral
Services
Global Biometric as a Service Market by Modality Type
Unimodal Biometrics
Multimodal Biometrics
Global Biometric as a Service Market by Organization size
Small and Medium-sized Enterprises
Large Enterprises
Global Biometric as a Service Market by Verticals
Government
Healthcare
BFSI
IT and ITES
Manufacturing
Education
SMEs
Others
Global Biometric as a Service Market by Region
Asia PacificChina
Japan
India
Rest of APAC
North AmericaUnited States of America
Canada
EuropeUnited Kingdom
Germany
France
Spain
Rest of Europe
RoWBrazil
South Africa
Saudi Arabia
UAE
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