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Biometrics-As-A-Service Market Analysis 2023: Market Growth Rate, Competitive Landscape And Top Opportunities
The Business Research Company's Biometrics-As-A-Service Global Market Report 2023 Increasing adoption of biometrics as the major driver for the Biometrics-As-A-Service market's growth in the forecast period. Biometrics refers to measurement and statistical analysis of individuals that are used to recognize the identity, or verify the claimed identity. Biometrics are used as a service to verify a user's identity to grant access to secure physical or digital sites or to protect transactions and for workforce management related functions.
The biometrics-as-a-service market size has grown exponentially in recent years. It will grow from $2.99 billion in 2023 to $3.75 billion in 2024 at a compound annual growth rate (CAGR) of 25.7%. The growth in the historic period can be attributed to increasing digital transformation, rise of cloud services, rise of remote work and access, improved accuracy and reliability.
The biometrics-as-a-service market size is expected to see exponential growth in the next few years. It will grow to $10.48 billion in 2028 at a compound annual growth rate (CAGR) of 29.3%.
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Major competitors in the Biometrics-As-A-Service market are PLC, Fujitsu Ltd., NEC Corporation, Thales Group, Leidos Holdings Inc., IDEMIA SA, Nuance Communications Inc.
A key trend in the Biometrics-As-A-Service market includes technological advancement. Major companies operating in the biometrics-as-a-service market are adopting new technologies such as multimodal biometric authentication to provide reliable services to their customers and to strengthen their market position. Multimodal biometric authentication is a solution that uses two or more different biometric identifiers as a form of multi-factor authentication. For instance, in November 2022, NEC Corporation, a Japan-based information technology and electronics corporation, launched Bio-IDiom a multimodal biometric authentication solution.
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The Biometrics-As-A-Service market is segmented -
• By Scanner Type: Fingerprint Recognition, Iris Recognition, Palm Recognition, Facial Recognition, Voice Recognition, Other Scanner Types
• By Modality: Unimodal, Multimodal
• By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
• By Application: Site Access Control, Time Recording, Mobile Application, Web And Workplace
• By End-User: Government, Retail, IT (Information Technology) And Telecom, Banking, Financial Services And Insurance (BFSI), Healthcare, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Biometrics-As-A-Service market.
The Business Research Company's "Global Biometrics-As-A-Service Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Biometrics-As-A-Service Market Include:
1. Executive Summary
2. Biometrics-As-A-Service Market Characteristics
3. Biometrics-As-A-Service Market Trends And Strategies
4. Biometrics-As-A-Service Market - Macro Economic Scenario
5. Global Biometrics-As-A-Service Market Size and Growth
……
32. Global Biometrics-As-A-Service Market Competitive Benchmarking
33. Global Biometrics-As-A-Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Biometrics-As-A-Service Market
35. Biometrics-As-A-Service Market Future Outlook and Potential Analysis
36. Appendix
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