Global Biometric-as-a-Service Market is valued approximately USD 3.20 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 22.7 % over the forecast period 2020-2027. Biometrics-as-a-service facilitated cloud-based authentication and identification for an enterprise to identify an individual through their behavioral and biological characteristics. The approach offers multiple benefits such as accessibility and easy implementation at any endpoint on the network and reduced subscription cost. In addition, biometric-as-a-service is gaining popularity as it is a far more secure than traditional forms of entry codes such as locks, pin and passwords. This technology is also leveraging statistical, computing, mathematical and imaging methods to map a detailed identity of an individual for high-risk security clearances. Further, the growth of the market is witnessed owing to the growing usage of mobile devices and increasing demand for cost-effective solutions to access advanced biometrics capabilities. For Instance: as per the report published by the GSMA Intelligence in July 2020, there are around 5.15 unique mobile phone users across the globe and the total number of unique users around the world increased by 121 million in past 12 months. Thus, with the high usage of mobile and connected devices, high need for cost-effective and advanced biometrics solutions among the enterprises is observed which would supplement the growth of the market during the forecast period of 2020-2027 .However, security of biometric data stored on the cloud is hampering the growth of this market. Further, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition.
The regional analysis of global Biometric-as-a-Service market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region due to the large-scale funded programs and employee access monitoring in buildings. Also, increasing cyber-attacks and inefficiency of large and small businesses is expected to create positive outlook for the growth of the region. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Nuance Communications Inc.
IDEMIA France SAS
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Scanner Type:
Site Access Control
Web and Workplace
IT and Telecom
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Biometric-as-a-Service Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers