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Biometric Services Platform (BioSP) Market Analysis Covers Cost Structure, Demand Rate, Growth, Trends, and Forecast till 2028 || Key Participants- Crossmatch; Centrify Corporation, Fischer International Identity, LLC Identity Automation, ImageWare System
Fact.MR
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A biometric services platform offers a foundation for the basic enrolment, verification, and identification of individuals having multiple roles. A logical access module integrated in a biometric services platform provides user data access, which allows both, specific data security and UI level security, based on individual roles and user groups within the network. This entails that, the biometric services platform can be programed to provide resource access to an individual or a group of individuals with a specific role. If needed, end users can also access the de-duplication and blacklisting features of their biometric services platform, which enables reliable access declination in the case of duplicates and banned individuals.
Companies, such as Invixium, are incorporating the concept of biometric services platforms to develop IoT-enabled biometric products for time management and access control in smart homes and buildings. The company offers its customizable IXM software ecosystem as a biometric services platform for the residential, commercial, and industrial sectors.
Biometric Services Platform Market: Drivers and Challenges
In the commercial and industrial sectors, the features offered by an organization’s biometric services platform eliminate the risk of fraud and trespassing, and enables unfailing identification of individuals. This is the primary driver of the global biometric services platform market. Suppliers offer customizable biometric products that can be integrated with a standard biometric services platform to meet the organization’s needs. However, in the case of a large and complex network system that includes multiple sub-system biometric services platforms in various government agencies, international data exchange barriers decrease the efficiency and reliability of biometric products, which, in turn, challenges the global biometric services platform market.
Biometric Services Platform Market: Segmentation
On the basis of station, the global biometric services platform market can be segmented into the following:
Enrollment Workstations
Verification Workstations
Identification Workstations
Mobile Devices
Identification workstations are most commonly procured in the biometric services platform market.
On the basis of recognition type, the global biometric services platform market can be segmented into the following:
Fingerprint Recognition
Facial Recognition
Iris Recognition
Voice Recognition
Others
Fingerprint recognition holds the largest market share in the global biometric services platform market.
On the basis of application, the global biometric services platform market can be segmented into the following:
Citizen ID and Voting Programs
KYC
Fraud Prevention
Territory Management
Mobile Authentication
Law Enforcement
Defense
Government
Others
Fraud prevention is the most common application of biometric services management platform.
Biometric Services Platform Market: Regional Outlook
Among all the regions, North America holds the largest market share in the global biometric services platform market. It is anticipated to maintain a steady growth rate in the biometric services platform market during the forecast period. The growth of the biometric services platform market in North America is attributed to the ever-rising trend of industrial and commercial automation. The rise in disposable income in the industrial and commercial sectors plays a major role in driving the growth of the global biometric services platform market. Southeast Asian and other Asia Pacific economies are expected to register significant growth rates in the biometric services platform market. Western and Eastern European countries are also expected to generate steady growth rates in the biometric services platform market during the forecast period. The overall growth in the global biometric services platform market is attributed to the ever-rising demand for KYC and fraud prevention services.
To know more about the Biometric Services Platform (BioSP) Market Trends, visit this link- https://www.factmr.com/report/1880/biometric-services-platform-market
Biometric Services Platform Market: Key Players
A few of the major players operating in the global biometric services platform market include Crossmatch; Centrify Corporation; Fischer International Identity, LLC; Identity Automation; ImageWare Systems; Aware, Inc.; I.am; NEC Corporation; Sensory Inc.; Nok Nok Labs, Inc.; IDEMIA, and Invixium, among others.
The report covers exhaustive analysis on:
Market Segments
Historical Actual Market Size, 2013-2017
Market Size & Forecast, 2018 to 2028
Supply & Demand Value Chain
Current Trends/Issues/Challenges
Competition & Companies Involved
Technology
Value Chain
Market Drivers and Restraints
Report Highlights:
Detailed overview of parent market
Changing market dynamics of the industry
In-depth market segmentation
Historical, current, and projected market size in terms of value
Recent industry trends and developments
Competitive landscape
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint
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