Biometrics-as-a-Service Market Value to Exceed USD 5,376.36 Million in 2026

According to the report, the global Biometrics-as-a-Service industry garnered $1.42 billion in 2018, and is estimated to reach $5.37 billion in 2026, growing at a CAGR of 18.2% from 2019 to 2026.

Rise in advanced cyber -attacks, growth of IoT landscape, and stringent government regulations drive the growth of the global Biometrics-as-a-Service market. On the other hand, security and privacy concerns associated with data stored on cloud impedes the market growth to a certain extent. However, rise in the adoption of cloud-based biometrics among SMEs and addition of artificial intelligence in biometrics-as-a-service solutions expected to create a number of lucrative opportunities in the near future.

Download Sample PDF Report at: https://www.alliedmarketresearch.com/request-sample/6080

Based on component, the solution segment contributed nearly three-fourths of the global Biometrics-as-a-Service market share in 2018. This is due to increase in focus on data security, rise in IoT landscape, and stringent government regulations for data security. On the other hand, the service segment is projected to grow at the fastest CAGR of 20.9% throughout the study period. This is due to the services have a major role in determining the gap analysis and benchmarking against leading industry practices, which will drive the market during the forecasted period.

Based on modality, the unimodal segment held the lion's share in 2018, garnering more than two-thirds of the global Biometrics-as-a-Service market. This is due to the increase in the adoption of these systems because of reliability and accuracy provided by the unimodal biometrics. At the same time, the multimodal segment would cite the fastest CAGR of 20.4% by 2026. This is due to secrecy and security of user data, the availability of multiple traits, and high-level security inherent by combining different biometrics without slowing down the operations.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/6080

Based on geography, the market across North America accounted for nearly two-fifths of the global Biometrics-as-a-Service market revenue in 2018. This is due to the surge in online transactions and increase in cyberattacks among the organizations. However, the Asia-Pacific region would cite the fastest CAGR of 20.7% from 2019 to 2026. This is due to increase in the investment by the government in biometrics projects such as national ID cards and e-passports, increase in the rise of cyber-attacks, and growing cybersecurity spending among organizations.

Key players:

• Imageware Systems Incorporated
• Fujitsu Limited
• Aware Inc.
• M2SYS Technology - KernellÓ Inc
• Fulcrum Biometrics
• IDEMIA
• Leidos Holdings
• BioID
• Iritech, Inc

If you have any special requirements, please let us know: https://www.alliedmarketresearch.com/request-for-customization/6080

Key Findings of the Study -

• Based on component, the solution segment led the biometrics-as-a-service market, in terms of revenue in 2018.
• By organization size, the large enterprises accounted for the highest market share in 2018.
• By region, North America generated the highest revenue in 2018.
• Depending on industry vertical, the healthcare segment is anticipated to exhibit substantial growth during the forecast period.
• By region, Asia-Pacific is anticipated to exhibit substantial biometrics-as-a-service (BaaS) market growth during the forecast period.

Procure Complete Report (253 Pages PDF with Insights, Charts, Tables, and Figures) at: https://bit.ly/3ZpuBZX

Access Summary of Report: https://www.alliedmarketresearch.com/biometrics-as-a-service-market

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

This release was published on openPR.