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Monday, November 22, 2021

Global Biometric-as-a-Service Market to be Driven by Technological Advancements in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Biometric-as-a-Service Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global biometric-as-a-service market, assessing the market based on its segments like scanner type, application, end-use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2016-2026)

  • Historical Market Size (2020): 2.38 Billion
  • Forecast CAGR (2021-2026): 20%

The rising demand for fingerprint identification in smartphones and other smart devices has boosted the expansion of the biometric-as-a-service industry. One of the key drivers of this market is the increasing demand for biometric sensor-based tablets, smartwatches, wearable gadgets, and other consumer electronic goods. The ease of use and comprehensiveness of biometric sensors are two important drivers for the worldwide biometric-as-a-service industry.

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

Industry Definition and Major Segments

Biometrics are remnants of a person's biological identification that are commonly accessible through the thumbs and other body parts to capture an imprint. Identification, verification, safety, attendance, time, and other functions are all served by these biological ‘fingerprints.'

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The market for biometric-as-a-service is divided on the basis of scanner type into fingerprint recognition, iris recognition, palm recognition, facial recognition, voice recognition and others. The division based on application is site access control, time recording, mobile application, web and workplace. Depending on its end-use, the biometric-as-a-service market may be split into government, retail, IT and telecom, BFSI, healthcare, and others.

Market Trends

Organisations in various industries, where security is still a top priority, are spending substantially on security systems, concentrating on access control systems. Some of the most prominent users of this technology include the defence, law enforcement, and government organisations. Furthermore, the growing necessity to improve national security has fueled the global expansion of these systems. In many nations, iris recognition is utilised for various applications, including passport-free automated border crossings, augmenting the growth in the forecast period.

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In the near future, the biometric-as-a-service solution may be used to connect fragmented identification information throughout the organisation and integrate various forms of biometrics as best suited to certain business objectives and risk levels, bolstering the overall demand in the market.

Key Market Players

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

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About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

Media Contact

Company Name: EMR Inc.
Contact Person: Steven Luke, Corporate Sales Specialist – U.S.A.
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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