Biometric-as-a-Service Market to Grow at 17.0% CAGR by 2024 | Top Technologies, Overview, Key Insights and Company Profiles

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The Global Biometric-as-a-Service Market size to grow from US$ 1.2 Billion in 2019 to US$ 2.7 Billion by 2024, at a CAGR of 17.0% during 2019–2024. This report spread across 68 Pages, Profiling 14 Companies and Supported with 05 Tables and 08 Figures is now available in this research.

“Healthcare application area to grow at the highest rate during the forecast period”
Increasing digital health records and stringent regulatory mandates to manage these records has increased the use of biometrics in the healthcare sector. Additionally, biometrics being increasingly used to monitor the use of prescribed drugs.

“Unimodal segment to hold a larger market size during the forecast period”
Unimodal solutions are easy to deploy and less complex than multimodal technologies. However, unimodal technologies are more vulnerable to threats, such as spoofing, and are not as reliable as multimodal systems. These systems are therefore deployed in industries where high levels of security and reliability are not required.

“Asia Pacific (APAC) to grow at the highest CAGR during the forecast period”
Increasing security concerns in India, China, Japan, and Korea have further contributed to the adoption of biometric solutions in these countries. The Indian government launched an initiative toward the unique identification of citizens using biometrics and toward the issuance of Aadhaar numbers and cards.

Breakdown of primary participants’ profile:
• By Company: Tier I:15%, Tier II:42%, and Tier III:43%
• By Designation: C-Level:62%, Director Level:20%, and Others:18%
• By Region: North America: 40%, APAC: 30%,Europe: 20%, MEA: 5%, and Latin America: 5%

Report Highlights:
• To analyze opportunities in the market for stakeholders by identifying the high growth segments of the biometric-as-a-service ecosystem

• To define, describe, and forecast the size of the biometric-as-a-service market by application area, modality, offering, and region

• To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market

• To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

• To study the complete value chain of the market

• To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders

• To analyze strategic approaches, such as product launches, acquisitions, contracts, agreements, and partnerships, in the market

Top Companies profiled in the Biometric-as-a-Service Market include are NEC (Japan), Aware (US), Fujitsu (Japan), Nuance (US), Leidos (US), Idemia (France), M2SYS (US), Smile pass (UK), Certibio (Brazil), HYPR (US), BioID (Germany), Accenture (Ireland), Fulcrum Biometrics (US), and Phonexia (US).

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This release was published on openPR.