Home Business Biometrics-As-A-Service Market Trends, Size, Share, Growth, Analysis, Report, Forecast 2023-2028

Biometrics-As-A-Service Market Trends, Size, Share, Growth, Analysis, Report, Forecast 2023-2028

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Biometrics-As-A-Service Market Trends, Size, Share, Growth, Analysis, Report, Forecast 2023-2028

Biometrics-As-A-Service Market

The new report from Expert Market Research titled, ‘Global Biometrics as a Service Market Price, Share, Trends, Growth, Analysis, Report and Forecast 2023-2028’, provides an in-depth analysis of the global biometrics as a service market, evaluating the market based on its segments such as scanner type, application, end-use, and key regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, along with market analysis based on SWOT and Porter’s Five Forces models.

Highlights of the report include:

Market Overview (2018-2028)

  • Historical market size (2020): 2.38 billion
  • Forecast CAGR (2023-2028): 20%

The growing demand for fingerprint identification on smartphones and other smart devices has fueled the expansion of the biometrics-as-a-service industry. One of the major drivers of this market is the growing demand for biometric sensor based tablets, smart watches, wearables and other consumer electronic goods. Ease of use and ubiquity of biometric sensors are two important drivers for the worldwide biometrics-as-a-service industry.

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Additionally, growing demand for biometric fingerprint scanning solutions for payments and banking is helping the biometrics-as-a-service industry. The increased use of cloud services will provide significant potential for the biometrics-as-a-service industry.

Industry definition and key segments

Biometrics are remnants of a person’s biological identification that are usually accessible through thumbs and other body parts to capture a fingerprint. Identification, verification, security, attendance, timing and other functions are all served by these biological ‘fingerprints’.

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The market for biometrics as a service is segmented on the basis of scanner type into fingerprint recognition, iris recognition, palm recognition, face recognition, voice recognition, and others. App-based sharing is site access control, time and attendance, mobile app, web, and workplace. Depending on its end-use, the biometrics-as-a-service market can be segmented into government, retail, IT & telecom, BFSI, healthcare, and others.

Market Trends

Organizations in various industries, where security is still a top priority, are spending heavily on security systems, focusing on access control systems. Some of the most prominent users of this technology include defense, law enforcement, and government organizations.

Moreover, the growing need to improve national security has driven the global expansion of these systems. In many countries, iris recognition is used for various applications, including automated passport-free border crossings, boosting growth over the forecast period.

In the near future, the biometric-as-a-service solution can be used to connect fragmented identification information across the organization and integrate different forms of biometrics as best suited to business objectives and certain risk levels. , strengthening the overall demand in the market.

Major market players

Key players in the market are NEC, Aware, Fujitsu, Nuance, Leidos, Idemia, M2SYS, Smilepass, Certibio, HYPR Corp, BioID, among others. The report covers market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other recent developments of these market players.

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Over 3,000 EMR consultants and more than 100 analysts work hard to ensure customers receive only the most up-to-date, relevant, accurate and actionable industry intelligence so they can formulate informed business strategies, effective and intelligent and ensure their leadership in the market.

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