A recent report published by Infinium Global Research on the biometric-as-a-service market provides an in-depth analysis of segments and sub-segments in the global as well as a regional biometric-as-a-service market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional biometric-as-a-service market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global biometric-as-a-service market. According to the report, the global biometric-as-a-service market is projected to grow at a CAGR of 15.9% over the forecast period of 2019-2025.
Biometric-as-a-service offers well-established benefits of software-as-a-service in biometrics. Companies operating in the biometric-as-a-service market adopt strategies such as mergers, acquisitions, and new product launches that expand their market share. Recently in 2019, Capgemini is entered into a partnership with IDEMIA. The partnership promotes the launch of a secure IoT device management platform. In addition, the joint platform brings smart devices with needed security and connectivity.
Biometric-as-a-service is valuable in military setups, nuclear reactors, research and development facilities, and data centers. The growing demand for full-proof security in both online and offline processes drives the growth of the biometric-as-a-service market. It offers far more security than traditional forms of entry codes. The surge in demand for biometric technology in automotive, consumer electronics, commercial centers, and defense stimulates the growth of the biometric-as-a-service market. The rising demand for finger identification features in smartphones contributes to the growth of the biometric-as-a-service market. The convenience offered by biometric technology in different applications fuels the growth of the biometric-as-a-service market. The increasing preference for stronger security systems stimulates the growth of the biometric-as-a-service market. On the other side, biometric data stored on the cloud has security issues that hinder the growth of the biometric-as-a-service market. Moreover, technological development and increasing importance for security create novel opportunities for the growth of the biometric-as-a-service market.
Based on geography, the global biometric-as-a-service market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is anticipated to have a premium share in the global biometric-as-a-service market. The increasing concern about data security in the Asia-Pacific region drives the growth of the biometric-as-a-service market in Asia-Pacific. North America is expected to grow in the global biometric-as-a-service market with a significant CAGR over the forecast period. The rising adoption of biometric technology in international airports and commercial centers in North America contributes to the growth of the North America biometric-as-a-service market. Europe is showing growth in the global biometric-as-a-service market.
The report on the global biometric-as-a-service market covers segments such as type, modality, deployment mode, application, and industry. On the basis of type, the sub-markets include physiological biometrics, and behavioural biometrics. On the basis of modality, the sub-markets include unimodal, and multimodal. On the basis of deployment mode, the sub-markets include cloud, and on-premise. On the basis of application, the sub-markets include identity proofing and credentialing, law enforcement and border control, mobile banking, payments, and authentication, civil identity and elections, and workforce management. On the basis of industry, the sub-markets include banking and finance, government, consumer electronics, healthcare, defense services, and other industries.
The report provides profiles of the companies in the market such as Idemia Group, Fujitsu Ltd., Aware, Inc., Capgemini SE, Iritech Inc., SmilePass Ltd., Certibio, HYPR Corp., Accenture plc, Fulcrum Biometrics, LLC, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of biometric-as-a-service market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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