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.