The global biometrics as a service 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.
The global biometrics as a service 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.
Biometrics as a Service is a service that allows people to be authenticated and identified based on their behavioral and biological characteristics. It provides a solution to ensure that only genuine users can access the services, primarily through the use of facial recognition and microphones for voice capture. Growing demand for cost-effective solutions to access advanced biometrics competences and rising adoption of cloud-based services are two major drivers of the biometrics as a service market.
The increasing security of biometric data stored on the cloud, as well as the integration of biometrics-as-a-service into existing systems, are two factors that could stymie the biometrics as a service market. However, rising e-commerce demand, increased mobile device usage, and increased security awareness are all creating opportunities for the biometrics as a service market to grow in the forecast period.
The outbreak of the COVID-19 pandemic and the global response to it have caused a similar shift in global business. COVID-19 is expected to have a long-term impact as well as some serious short-term consequences. Biometrics, artificial intelligence (AI), and machine learning (ML) are expected to play a key role in responding to this pandemic. Biometrics are rapidly being integrated into infectious disease prevention and control protocols in key markets such as surveillance, border control, law enforcement, healthcare, and biotechnologies. New screening software is being added to face recognition and surveillance operations to detect people who are not wearing protective masks. In addition, AI algorithms are being updated to overcome the difficulty of correctly identifying people wearing masks. Touchless biometric identification technologies such as facial recognition and iris recognition, according to industry experts, are expected to gain a lot of traction following the COVID-19 pandemic. These technologies have already begun to gain traction around the world, as using touch-based technologies like fingerprint and vein recognition increases the risk of COVID-19 spreading. As a measure to contain the spread of the pandemic, various governments, law enforcement agencies, and other organizations have already abandoned touch-based biometric authentication and adopted touchless biometric authentication technologies.
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.
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Unimodal solutions are simpler to implement and maintain than multimodal technologies. Unimodal technologies, on the other hand, are more vulnerable to threats like spoofing and are less reliable than multimodal systems. As a result, these systems are used in industries where high levels of security and reliability are not necessary. These are mostly famous because of their reduced cost and easy availability. Multimodality forms the other type of modality type.
The market's growth is expected to be boosted by the Cloud Based segment. Cloud-based services typically support upgrades and maintenance services that are either included in a subscription plan or available as a stand-alone service. In addition, integration services with complex enterprise applications account for the majority of service revenues. Hybrid cloud holds the largest revenue and share in market. Private Cloud, and Public Cloud forms the deployment model segment.
In the forecast period, BFSI is expected to be the fastest-growing market. The pressure to provide safe banking services through mobile apps persists as banking service providers invest in mobile app services to operate. Advanced authentication methods, such as fingerprint and two-factor authentication, facial and voice recognition, are used by the majority of banking apps and wallets. Telecommunications and IT, Retail, Healthcare, Media and Entertainment, Government and Defense, and others forms the industry vertical.
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.
As it becomes technologically equipped through early adoption of new technologies, Asia Pacific is expected to contribute to the fastest-growing region with the highest CAGR of 22.1% during the forecast period. Increased cyber-attacks, as well as the inability of large and small businesses in this region to manage and mitigate the risks associated with identity-related cyberattacks, are driving the trend. The growth of the biometrics-as-a-service market in Asia-Pacific is expected to be influenced by an increase in government investments in biometric projects such as national ID cards and e-passports, as well as the development of smart cities and connected devices.
Some of key players of Biometrics as a Service Market are 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.
To gain a competitive advantage, these players are increasing collaborations and partnerships among industry participants, as well as various hospitals and research centers. Nuance is a well-known voice biometrics and Natural Language Understanding (NLU) solution provider with a large geographic footprint. Healthcare, enterprise, automotive, and imaging are among the company's segments. It also serves a variety of industries, including finance, government, healthcare, legal, manufacturing, education, and logistics. By partnering with BioCatch, a leading behavioral biometrics solutions provider, the company has expanded its biometrics solution portfolio to include behavioral biometrics solutions. Customers can now get multi-factor authentication solutions thanks to this partnership.
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Modality Type
FIG NO. 2. Market Attractiveness Analysis, By Deployment Model
FIG NO. 3. Market Attractiveness Analysis, By Industry Vertical
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Biometrics as a Service Market Revenue, 2020 – 2028 (USD Million)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Modality Type, 2020 & 2028
FIG NO. 8. Global Biometrics as a Service Market for Unimodal, Revenue (USD Million) 2020 – 2028
FIG NO. 9. Comparative Revenue Analysis of Biometrics as a Service Market for Unimodal, By Country, 2020 & 2028
FIG NO. 10. Global Biometrics as a Service Market for Multimodal, Revenue (USD Million) 2020 – 2028
FIG NO. 11. Comparative Revenue Analysis of Biometrics as a Service Market for Multimodal, By Country, 2020 & 2028
FIG NO. 12. Market Revenue Share, By Deployment Model, 2020 & 2028
FIG NO. 13. Global Biometrics as a Service Market for Private Cloud, Revenue (USD Million) 2020 – 2028
FIG NO. 14. Comparative Revenue Analysis of Biometrics as a Service Market for Private Cloud, By Country, 2020 & 2028
FIG NO. 15. Global Biometrics as a Service Market for Public Cloud, Revenue (USD Million) 2020 – 2028
FIG NO. 16. Comparative Revenue Analysis of Biometrics as a Service Market for Public Cloud, By Country, 2020 & 2028
FIG NO. 17. Global Biometrics as a Service Market for Hybrid Cloud, Revenue (USD Million) 2020 – 2028
FIG NO. 18. Comparative Revenue Analysis of Biometrics as a Service Market for Hybrid Cloud, By Country, 2020 & 2028
FIG NO. 19. Market Revenue Share, By Industry Vertical, 2020 & 2028
FIG NO. 20. Global Biometrics as a Service Market for BFSI, Revenue (USD Million) 2020 – 2028
FIG NO. 21. Comparative Revenue Analysis of Biometrics as a Service Market for BFSI, By Country, 2020 & 2028
FIG NO. 22. Global Biometrics as a Service Market for Telecommunications and IT, Revenue (USD Million) 2020 – 2028
FIG NO. 23. Comparative Revenue Analysis of Biometrics as a Service Market for Telecommunications and IT, By Country, 2020 & 2028
FIG NO. 24. Global Biometrics as a Service Market for Retail, Revenue (USD Million) 2020 – 2028
FIG NO. 25. Comparative Revenue Analysis of Biometrics as a Service Market for Retail, By Country, 2020 & 2028
FIG NO. 26. Global Biometrics as a Service Market for Healthcare, Revenue (USD Million) 2020 – 2028
FIG NO. 27. Comparative Revenue Analysis of Biometrics as a Service Market for Healthcare, By Country, 2020 & 2028
FIG NO. 28. Global Biometrics as a Service Market for Media and Entertainment, Revenue (USD Million) 2020 – 2028
FIG NO. 29. Comparative Revenue Analysis of Biometrics as a Service Market for Media and Entertainment, By Country, 2020 & 2028
FIG NO. 30. Global Biometrics as a Service Market for Government and Defense, Revenue (USD Million) 2020 – 2028
FIG NO. 31. Comparative Revenue Analysis of Biometrics as a Service Market for Government and Defense, By Country, 2020 & 2028
FIG NO. 32. Global Biometrics as a Service Market for Others, Revenue (USD Million) 2020 – 2028
FIG NO. 33. Comparative Revenue Analysis of Biometrics as a Service Market for Others, By Country, 2020 & 2028
FIG NO. 34. Global Biometrics as a Service Market Revenue Share, By Region, 2020 & 2028
FIG NO. 35. North America Biometrics as a Service Market Revenue, 2020 - 2028 (USD Million)
FIG NO. 36. Porter’s Five Forces Analysis for Global Biometrics as a Service Market
FIG NO. 37. PEST Analysis for Global Biometrics as a Service Market
FIG NO. 38. Pricing Analysis for Global Biometrics as a Service Market
FIG NO. 39. Value Chain Analysis for Global Biometrics as a Service Market
FIG NO. 40. Company Share Analysis, 2019
FIG NO. 41. Radar Determinant Chart, 2019
FIG NO. 42. Company Strategic Developments – Heat Map Analysis
FIG NO. 43. Fujitsu Limited Business Segment Revenue Share, 2020 (%)
FIG NO. 44. Fujitsu Limited Geographical Segment Revenue Share, 2020 (%)
FIG NO. 45. Market Channels
FIG NO. 46. Marketing Channel Development Trend
FIG NO. 47. Growth in World Gross Product, 2008-2018
FIG NO. 48. Research Methodology – Detailed View
FIG NO. 49. Research Methodology
List of Tables
TABLE NO. 1: Global Biometrics as a Service Market: Snapshot
TABLE NO. 2: Quarterly Biometrics as a Service Market Revenue by Region, 2020
TABLE NO. 3: Quarterly Biometrics as a Service Market Revenue Forecast by Region, 2021
TABLE NO. 4: Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5: Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6: Global Biometrics as a Service Market for Unimodal, by Region, 2020 – 2028 (USD Million)
TABLE NO. 7: Global Biometrics as a Service Market for Multimodal, by Region, 2020 – 2028 (USD Million)
TABLE NO. 8: Global Biometrics as a Service Market for Private Cloud, by Region, 2020 – 2028 (USD Million)
TABLE NO. 9: Global Biometrics as a Service Market for Public Cloud, by Region, 2020 – 2028 (USD Million)
TABLE NO. 10: Global Biometrics as a Service Market for Hybrid Cloud, by Region, 2020 – 2028 (USD Million)
TABLE NO. 11: Global Biometrics as a Service Market for BFSI, by Region, 2020 – 2028 (USD Million)
TABLE NO. 12: Global Biometrics as a Service Market for Telecommunications and IT, by Region, 2020 – 2028 (USD Million)
TABLE NO. 13: Global Biometrics as a Service Market for Retail, by Region, 2020 – 2028 (USD Million)
TABLE NO. 14: Global Biometrics as a Service Market for Healthcare, by Region, 2020 – 2028 (USD Million)
TABLE NO. 15: Global Biometrics as a Service Market for Media and Entertainment, by Region, 2020 – 2028 (USD Million)
TABLE NO. 16: Global Biometrics as a Service Market for Government and Defense, by Region, 2020 – 2028 (USD Million)
TABLE NO. 17: Global Biometrics as a Service Market for Others, by Region, 2020 – 2028 (USD Million)
TABLE NO. 18: Global Biometrics as a Service Market Revenue, By Region, 2020 – 2028 (USD Million)
TABLE NO. 19: North America Biometrics as a Service Market Revenue, By Country, 2020 – 2028 (USD Million)
TABLE NO. 20: North America Biometrics as a Service Market Revenue, By Modality Type, 2020 – 2028 (USD Million)
TABLE NO. 21: North America Biometrics as a Service Market Revenue, By Deployment Model, 2020 – 2028 (USD Million)
TABLE NO. 22: North America Biometrics as a Service Market Revenue, By Industry Vertical, 2020 – 2028 (USD Million)
TABLE NO. 23: U.S. Biometrics as a Service Market Revenue, By Modality Type, 2020 – 2028 (USD Million)
TABLE NO. 24: U.S. Biometrics as a Service Market Revenue, By Deployment Model, 2020 – 2028 (USD Million)
TABLE NO. 25: U.S. Biometrics as a Service Market Revenue, By Industry Vertical, 2020 – 2028 (USD Million)
TABLE NO. 26: Canada Biometrics as a Service Market Revenue, By Modality Type, 2020 – 2028 (USD Million)
TABLE NO. 27: Canada Biometrics as a Service Market Revenue, By Deployment Model, 2020 – 2028 (USD Million)
TABLE NO. 28: Canada Biometrics as a Service Market Revenue, By Industry Vertical, 2020 – 2028 (USD Million)
TABLE NO. 29: Mexico Biometrics as a Service Market Revenue, By Modality Type, 2020 – 2028 (USD Million)
TABLE NO. 30: Mexico Biometrics as a Service Market Revenue, By Deployment Model, 2020 – 2028 (USD Million)
TABLE NO. 31: Mexico Biometrics as a Service Market Revenue, By Industry Vertical, 2020 – 2028 (USD Million)
TABLE NO. 32: Drivers for the Biometrics as a Service Market: Impact Analysis
TABLE NO. 33: Restraints for the Biometrics as a Service Market: Impact Analysis
TABLE NO. 34: Major Buyers of Biometrics as a Service
TABLE NO. 35: Distributors/Traders List of Biometrics as a Service
TABLE NO. 36: Global Biometrics as a Service Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 37: Global Biometrics as a Service Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
The global biometrics as a service market was valued at USD 1.6 Billion in 2020.
The global biometrics as a service market is expected to reach USD 3.88 Billion by 2028, growing at a CAGR of 17.9% between 2021 to 2028.
The growing demand for comprehensive authentication systems, to combat security attacks and identity theft, both government and private organizations are implementing advanced BaaS solutions are some of the key factors driving the biometrics as a service market growth.
North America held a share of over 37.56% in the global biometrics as a service market. This is due to it is a technologically advanced region with a large number of early adopters and the presence of major market players.
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.
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