The biometrics-as-a-service market was worth $1.42 billion in 2018 and is expected to reach $5.37 billion by 2026, growing at an 18.2% CAGR from 2019 to 2026. Biometrics-as-a-Service is an internet-based centralised biometric database used for authentication of a person based on a set of recognisable and verifiable data that is unique and specific to them. The technology is widely regarded as useful because it reduces costs and enables customers to combine different modalities to develop best use cases for various organisations while also allowing for rapid integration with existing business intelligence and systems. Because of the existing features associated with SaaS, BaaS has been widely adopted across various industries, including government, fintech, and private companies. Several advantages include high dependability, cost-effectiveness.
The market is being driven by an increase in the adoption of cloud-based biometrics, which is being supported by a number of factors such as growing cyber-attacks, stringent government regulations for data security, and demand for cost-effective biometrics. Furthermore, the expansion of the IoT landscape and an increase in BYOD adoption among enterprises fuel market growth.
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Global Biometrics as a Service Market: Top Key Players
NEC
Leidos
Nuance
M2SYS
Idemia
Aware
Fujitsu
Global Biometrics as a Service Market: By Types
Solution
Services
Global Biometrics as a Service Market: By Applications
Government and Defense
Industrial
Commercial
Geographically, the detailed analysis of consumption, revenue, and market share and growth rate of the following regions:
United States, Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden, Poland, Belgium, China, Japan, South Korea, Australia, India, Taiwan, Indonesia, Thailand, Philippines, Malaysia, Brazil, Mexico, Argentina, Columbia, Chile, Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of the World.
The outbreak of the COVID-19 pandemic and the global response to it have caused a similar magnitude of change in global businesses. 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 important roles in responding to this pandemic. Biometric systems have been widely deployed around the world as a critical technology for COVID-19 early detection, patient screening, and public safety monitoring. Biometrics are being rapidly integrated into infectious disease prevention and control protocols in key markets such as surveillance, border control, law enforcement, healthcare, and biotechnologies.
What’s Included in the Report:
- Market size and growth projections, 2022- 2030
- Market size, share, and growth projections across regions and countries, 2022- 2030
- Market size and CAGR of key products, applications, and end-user verticals, 2022- 2030
- Short and long term Market trends, drivers, restraints, and opportunities
- Profiles of 5 leading companies in the industry- overview, key strategies, financials, and products
- Latest market news and developments
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