The global biometric-as-a-service market size is forecasted to grow from USD 1.2 billion in 2019 to USD 2.7 billion by 2024. The major growth drivers for the market include increasing users and data-security initiatives by government, growing usage of mobile devices, and increasing demand for robust fraud detection and prevention systems. However, the low cybersecurity budget of organizations and high installation costs may restrain the market growth.
Healthcare application area to grow at the highest rate during the forecast period
Increasing digital health records and stringent regulatory mandates to manage these records has increased the use of biometrics in the healthcare sector. Additionally, biometrics being increasingly used to monitor the use of prescribed drugs.
A unimodal segment to hold a larger market size during the forecast period
Unimodal solutions are easy to deploy and less complex than multimodal technologies. However, unimodal technologies are more vulnerable to threats, such as spoofing, and are not as reliable as multimodal systems. These systems are therefore deployed in industries where high levels of security and reliability are not required.
Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
Increasing security concerns in India, China, Japan, and Korea have further contributed to the adoption of biometric solutions in these countries. The Indian government launched an initiative toward the unique identification of citizens using biometrics and toward the issuance of Aadhaar numbers and cards.
- By Company: Tier I: 15%, Tier II: 42%, and Tier III: 43%
- By Designation: C-Level: 62%, Director Level: 20%, and Others: 18%
- By Region: North America: 40%, APAC: 30%, Europe: 20%, MEA: 5%, and Latin America: 5%
The report includes the study of the key players offering biometric-as-a-service solutions. It profiles major vendors in the global biometric-as-a-service market, including NEC (Japan), Aware (US), Fujitsu (Japan), Nuance (US), Leidos (US), Idemia (France), M2SYS (US), Smilepass (UK), Certibio (Brazil), HYPR (US), BioID (Germany), Accenture (Ireland), Fulcrum Biometrics (US), and Phonexia (US).
The report segments the global biometric-as-a-service market by application area, modality, offering, and region. The application area segment comprises government and defense, financial services, healthcare, law enforcement, human resources, and others (travel and hospitality, academia and research, and secured enterprises/institutions). The modality segment comprises unimodal and multimodal. The biometric-as-a-service market by offering has solution and services. The report covers the biometric-as-a-service market with respect to 5 major regions, namely, North America, Europe, APAC, Latin America, and the Middle East and Africa (MEA).
The report would help the market leaders and new entrants in the global biometric-as-a-service market in the following ways:
- The report segments the market into various sub-segments. Hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across applications and regions.
- It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
- It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
1.1 Objectives of the Study
1.3 Years Considered for the Study
1.4 Market Definitions
1.5 Segment Definitions
2 Research Methodology
3 Executive Summary
3.1 Key Trends
3.2 Geographic Insights
3.3 Market Dynamics
4 Biometrics-as-a-Service Market Analysis By Application Area
5 Biometrics-as-a-Service Market Analysis By Modality
6 Biometrics-as-a-Service Market Analysis By Offering
6.2 Solution, By Type
6.3 Solution, By Trait
7 Biometrics-as-a-Service Market Analysis By Region
7.1 North America
7.3 Asia Pacific
7.4 Latin America
7.5 Middle East and Africa
8 Competitive Landscape
8.1 Competitive Leadership Mapping
9 Company Profiles
9.10 HYPR Corp
9.13 Fulcrum Biometrics
10.1 Author's Knowledge Store: Snapshot
10.2 Our Custom Research and Consulting
10.3 List of Abbreviations
10.4 Related Reports
List of Tables (5 Tables)
Table 1 North America: Biometrics-as-a-Service Market, By Country (USD Million)
Table 2 Europe: Biometrics-as-a-Service Market, By Country (USD Million)
Table 3 Asia Pacific: Biometrics-as-a-Service Market, By Country (USD Million)
Table 4 Middle East and Africa: Biometrics-as-a-Service Market, By Country (USD Million)
Table 5 Latin America: Biometrics-as-a-Service Market, By Country (USD Million)
List of Figures (8 Figures)
Figure 1 Biometrics-as-a-Service Market is Set to Grow Significantly Bolstered By Growing Demand for New Security and Authentication Services
Figure 2 Top 3 Application Areas By 2024 (USD Million)
Figure 3 Top 3 Solutions By 2024 (USD Million)
Figure 4 North America Currently Leads the Biometrics-as-a-Service Market, While APAC is Expected to Be the Leading Market By 2024
Figure 5 Biometrics-as-a-Service Market: Drivers, Restraints, Opportunities, and Challenges
Figure 6 Biometrics-as-a-Service Market, By Application Area, 2019-2024 (USD Million)
Figure 7 Biometrics-as-a-Service Market, By Modality, 2019-2024 (USD Million)
Figure 8 Biometrics-as-a-Service Market, By Offering, 2019-2024 (USD Million)