According to IMARC Group’s latest report, titled “Biometrics-as-a-Service Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global biometrics-as-a-service market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of 22.3% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Biometrics-as-a-Service (BaaS) is an advanced security solution that uses an individual’s biological traits, such as face, palm-vein images, fingerprint, and iris, to authenticate a user’s access. This enables organizations and establishments to prevent data theft while offering a safeguard against cyberattacks and unwarranted access to their premises. Consequently, BaaS finds extensive applications across diverse industrial segments, including defense and corporate, for ensuring secured entry and also monitoring and tracking any case of discrepancy.
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Market Trends
Over the years, the information technology (IT) industry has witnessed an immense rise in the number of users requiring advanced security solutions to protect their properties. Besides this, governments of numerous countries have undertaken several data-security initiatives for securing highly-classified documents. These factors have, in turn, propelled the demand for BaaS significantly. Moreover, the increasing requirement for improved fraud prevention and detection systems has attracted heavy investments in the development of more advanced and efficient products with BaaS features. Along with this, the increasing integration of blockchain technologies and Artificial Intelligence (AI) with BaaS is further presenting vendors with expansion opportunities in the industry. This is expected to create a positive outlook for the market further.
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List of Key Companies Covered in this Market Report:
Accenture
Aware Inc.
BioID
Fujitsu Limited (Furukawa Group)
Imageware Systems Incorporated (OTCMKT
IDEMIA France
Iritech Inc.
M2SYS Inc.
NEC Corporation
Thales Group
Breakup by Component:
Solutions
Services
Breakup by Solution Type:
Fingerprint Recognition
Face Recognition
Iris Recognition
Voice Recognition
Palm and Vein Recognition
Others
Breakup by Trait:
Physiological
Behavioral
Breakup by Modality:
Unimodal
Multimodal
Breakup by Rack Unit:
Above 40 RU
25-40 RU
Up to 25 RU
Breakup by Deployment Model:
Cloud-based
On-premise
Breakup by Organization Size:
SMEs
Large Enterprises
Breakup by Application:
Site Access Control
Time Recording
Mobile Application
Web and Workplace
Breakup by End User:
Government
Healthcare
BFSI
IT and ITES
Manufacturing
Education
Others
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021- 2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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