Biometrics as a Service Market Increasing at A Phenomenal Pace to Reach USD 3.88 Billion by 2028

16-Jun-2021 | Zion Market Research

Some of key players biometrics as a service market market include Fujitsu Limited, Accenture Plc., Aware Inc., Leidos Holdings, Inc., BioID, M2SYS Technology - KernellÓ Inc, Fulcrum Biometrics, LLC, IDEMIA, Imageware Systems Incorporated, and Iritech, Inc., among others.  These players are set to bolster the development of global biometrics as a service market.

According to analysts at Zion Market Research, the global sports nutrition market accounted for USD 1.6 Billion in 2020 and is expected to reach USD 3.88 Billion by 2028, growing at a CAGR of 17.9% from 2021 to 2028.

This review is based on a report by Zion Market Research, titled “Biometrics as a Service Market, by Modality Type (Unimodal and Multimodal), Deployment Model (Private Cloud, Public Cloud, and Hybrid Cloud), Industry Vertical (BFSI, Telecommunications and IT, Retail, Healthcare, Media and Entertainment, Government and Defense, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

Proliferated security threats leading to growth of biometric as a service markets

The traditional biometric technique for integrating biometric capabilities into business applications is costly and time-consuming. Biometrics-as-a-Service is a cloud-based platform that combines cloud capabilities and technologies with biometrics infrastructure. This allows for biometric onboarding and authentication on the cloud platform while also removing the costs of the database, network, and storage components. The biometric capture device is the only hardware component required to capture individual biometric input, making these solutions easier to deploy and driving their adoption across various industries. In addition, the majority of biometrics-as-a-service providers provide integration services to assist customers in integrating biometrics capabilities into their existing systems. This reduces the amount of technical resources required to integrate the service even more. Companies are constantly in need of such low-cost solutions, which is driving demand for them all over the world. One of the key factors driving the market's positive outlook is the growing demand for comprehensive authentication systems, as well as the increasing adoption of cloud-based services by businesses all over the world. To combat security attacks and identity theft, both government and private organizations are implementing advanced BaaS solutions.

Presence of Big Players in the Region Support North America Dominance

North America is expected to hold the largest market share during the forecast period because it is a technologically advanced region with a large number of early adopters and the presence of major market players. The revenue growth in this region is being driven by factors such as large-scale funded programs and employee access monitoring in buildings. The rapid growth of online transactions, the rise in advanced cyber-attacks, and high IT security spending are all major factors driving the BaaS market in this region. Furthermore, the use of advanced biometrics in various IoT-based devices in this region has boosted demand for biometrics-as-a-service in this region.

Browse the full “Biometrics as a Service Market, by Modality Type (Unimodal and Multimodal), Deployment Model (Private Cloud, Public Cloud, and Hybrid Cloud), and Industry Vertical (BFSI, Telecommunications and IT, Retail, Healthcare, Media and Entertainment, Government and Defense, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028???????.” Report at https://www.zionmarketresearch.com/report/biometrics-as-a-service-market

The global biometrics as a service market is segmented as follows:

By Modality Type

  • Unimodal
  • Multimodal

By Deployment Model

  • Private Cloud
  • Public Cloud
  • Hybrid Cloud

By Industry Vertical

  • BFSI
  • Telecommunications and IT Public
  • Retail
  • Healthcare
  • Media and Entertainment
  • Government and Defense
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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