Biometric as a Service Market – Opportunities & Forecast, 2020-2027

 The market report by GMI Research offers a comprehensive breakdown of industry status and outlook of major regions based on key players and market segments. This report focuses on the market on a global basis, especially in the Asia-Pacific, North America, Europe, and the Rest of the World. The market report also studies the worldwide market competition landscape, market drivers, and trends, opportunities and challenges, risks and barriers, and other aspects of the market.

Biometric as a Service Market Summary:

The accelerating demand for robust fraud detection and prevention systems, along with the rising penetration of smartphones and the increasing number of users and data security initiatives and programs launched by the government of various countries, are the major factors that are surging the growth of the Biometric as a Service market size. Moreover, the strong demand for fingerprint identification to provide secured access in the smart devices will further surge the market growth.  With the increasing digitalization, the customers are actively looking for biometric sensor based tablets, electronic devices, smartwatches, and other wearable devices, which in turn, will raise the market’s demand.

Various companies and startups are investing in bringing technological advancement in the biometric systems to meet the growing demand for biometric technology in commercial centers, electronics, automotive, and defense and security, and other sectors. In addition to this, several offices and airports around the world are opting for biometrics technology, and the growing application of finger and facial scan solutions in the security and defense sector will create numerous opportunities for market growth. As per the biometric as a service market analysis, the outbreak of COVID-19 has led to an upsurge in demand for biometrics technology, particularly in 2020. The growing focus on staying at home and maintaining social distance is encouraging the people to stay indoors, which is increasing the use of the internet and other services to facilitate the normal operation of daily life from home. The biometric algorithm based advanced technologies, such as AI and machine learning, is helping the government and private companies to connect remotely with their workforces. The increasing population working from home during the coronavirus pandemic has placed the biometrics sector on a highly beneficial position in the global economy. The combination of these factors will have a positive impact on market growth.

List of The Top Key Players in The Biometric as a Service Market:

·         NEC Corporation

·         Aware, Inc.

·         Fujitsu

·         Nuance Communications, Inc.

·         Leidos

·         IDEMIA

·         M2SYS Technology

·         Certisign

·         HYPR-DRIVE Ltd.

·         BioID

·         Accenture

Scope of The Biometric as a Service Market:

The Biometric as a Service Market is segmented by Offering, Modality Type, Organization Size, Verticals, and Region. The detailed segments and sub-segments of the market are explained below:

Segment by Offering:

·         Solutions

o   By Solution Type

§  Fingerprint Recognition

§  Face Recognition

§  Iris Recognition

§  Voice Recognition

§  Palm and Vein Recognition

§  Others

o   By Trait

§  Physiological

§  Behavioral

·         Services

Segment by Modality Type:

·         Unimodal Biometrics

·         Multimodal Biometrics

Segment by Organization Size:

·         Small and Medium-sized Enterprises

·         Large Enterprises

Segment by Verticals:

·         Government

·         Healthcare

·         BFSI

·         IT and ITES

·         Manufacturing

·         Education

·         SMEs

·         Others

Segment by Region:

·         North America

o   United States of America

o   Canada

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting firm which provides bespoke industry & market research to help businesses in making the toughest business decision. We know the significance of accurate data; that’s why our analyst uses a tailored methodology to study every market in detail because one size doesn’t fit all. We not only cover the traditional well-established market but also focuses on the niche market and markets in the emerging economies, where getting data and information is a challenge. This factor makes us pioneer in emerging market research space. Our syndicate reports cover multiple industries across various regions and countries.

Our in-depth market reports help propel your business with all the data, strategic inputs, and competitive intelligence to move ahead even in the most uncertain times. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research look forward to helping businesses stay ahead of the curve.