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2025-2034 Biometrics-As-A-Service Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the Biometrics-As-A-Service Industry Market Size Be by 2025?
Rapid expansion has been witnessed in the biometrics-as-a-service market size in the preceding years. The market, valuing $3.75 billion in 2024, is projected to swell up to $4.72 billion in 2025, portraying a compound annual growth rate (CAGR) of 25.8%. Factors like the surging digital transformation, the prevalence of cloud services, the increase in remote work and access, along with enhanced accuracy and reliability are credited for the growth during the historic period.
What's the Long-Term Growth Forecast for the Biometrics-As-A-Service Market Size Through 2029?
The market size for biometrics-as-a-service is predicted to witness a substantial increase over the upcoming years. It is projected to escalate to $13.47 billion in 2029, with a compound annual growth rate (CAGR) of 30.0%. The expansion during the predicted period can be linked to the rise in security needs, elevation in mobile and IoT incorporation, progress in healthcare and telemedicine, and infrastructural development. Significant trends during the forecasted period encompass the rising deployment of mobile biometrics, cloud-centric BaaS solutions, reinforced security for online trade, and technological progress.
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What Are the Key Growth Drivers Fueling the Biometrics-As-A-Service Market Expansion?
The expected surge in the usage of biometrics is set to fuel the expansion of the biometrics as a service market. Biometrics constitute measurement and statistical computations of individuals to confirm or ascertain their identity. The heightened demand for improved security, user convenience, and identification confirmation in diverse fields such as banking, healthcare, and government services is boosting biometrics adoption. Biometrics are mobilized as a service to authenticate a user's identity, thereby granting access to secure physical or digital spaces, safeguard transactions, and carry out workforce management-related operations. For example, the Information Commissioner's Office, a UK-based government body, reported in February 2024 significant future growth in demand for biometric recognition. Predictions place global market revenues at nearly twice their 2022 value of $43 billion, reaching $83 billion by 2027. Therefore, the increasing adoption of biometrics is spearheading the expansion of the biometrics as a service market.
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What Are the Key Trends Driving Biometrics-As-A-Service Market Growth?
Leading firms in the biometrics-as-a-service market are integrating cutting-edge technologies like multimodal biometric authentication to offer reliable services and consolidate their market standing. This method of authentication employs two or more varying biometric identifiers for multi-factor authentication. An exemplifier of this development is NEC Corporation, a Japanese IT and electronics giant, which in November 2022, unveiled Bio-IDiom, a unique multimodal biometric authentication solution. This system combines face and iris recognition to offer high-accuracy, rapid authentication with a below one in 10 billion false acceptance rate. The biometric authentication granted by this technology promotes a shared ID, speeding up seamless cooperation between various services. It also aids in creating innovative customer experiences and services by adjusting the camera's position according to the user's height, ensuring accurate data capture.
How Is the Biometrics-As-A-Service Market Segmented?
The biometrics-as-a-service market covered in this report is segmented -
1) By Scanner Type: Fingerprint Recognition, Iris Recognition, Palm Recognition, Facial Recognition, Voice Recognition, Other Scanner Types
2) By Modality: Unimodal, Multimodal
3) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
4) By Application: Site Access Control, Time Recording, Mobile Application, Web And Workplace
5) By End-User: Government, Retail, IT (Information Technology) And Telecom, Banking, Financial Services And Insurance (BFSI), Healthcare, Other End-Users
Subsegments:
1) By Fingerprint Recognition: Optical Fingerprint Scanners, Capacitive Fingerprint Scanners, Ultrasonic Fingerprint Scanners
2) By Iris Recognition: Camera-based Iris Scanners, Smartphone Iris Recognition Systems
3) By Palm Recognition: Palm Print Scanners, Palm Vein Recognition Systems
4) By Facial Recognition: 2D Facial Recognition Systems, 3D Facial Recognition Systems
5) By Voice Recognition: Speaker Verification Systems, Voiceprint Recognition Systems
6) By Other Scanner Types: Behavioral Biometrics, Multimodal Biometric Systems
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Which Companies Are Leading the Charge in Biometrics-As-A-Service Market Innovation?
Major companies operating in the biometrics-as-a-service market are Accentur*e PLC, Fujitsu Ltd., NEC Corporation, Thales Group, Leidos Holdings Inc., IDEMIA SA, Nuance Communications Inc., HID Global Corporation, Bytes Technology Group PLC, VoiceIt Technologies LLC, Imprivata Inc., Uniphore Software Systems Private Limited., Suprema Inc., BioEngagable Technologies Pvt Ltd., Aware Inc., Cognitec Systems GmbH, Integrated Biometrics LLC, IRITECH Inc., CERTIFY Global Inc., M2SYS Technology Inc., SecuGen Corporation, Athena Sciences Corporation, ImageWare Systems Inc., Mogimo Inc., Accu -Time Systems Inc., Clearview AI Inc., Biometrics Research Group Inc., Union Community Co Ltd., Skybiometry, Speech Technology Center Limited.
Which Regions Are Leading the Global Biometrics-As-A-Service Market in Revenue?
North America was the largest region in the biometrics-as-a-service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in biometrics-as-a-service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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