Biometric-as-a-Service Market Research & Clinical Advancements by 2027 | M2SYS Technology, Fujitsu Limited, Aware Inc., Leidos

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.

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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 the past 12 months. Thus, with the high usage of mobile and connected devices, a 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, the 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.

Major market player included in this report are:
NEC Corporation
Thales Group
M2SYS Technology
Fujitsu Limited
Aware Inc.
Leidos
Nuance Communications Inc.
Certibio
BioID AG
IDEMIA France SAS

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By Scanner Type:
Fingerprint Recognition
Iris Recognition
Palm Recognition
Facial Recognition
Voice Recognition
Others

By Application:
Site Access Control
Time Recording
Mobile Application
Web and Workplace

By End-user:
Government
Retail
IT and Telecom
BFSI
Healthcare
Others

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This release was published on openPR.