Global Biometrics as a Service Market is expected to reach US$ 4221.5 Million by 2024 from US$ 706.3 Million in 2016 at a CAGR of 29.1%.
Research report categorizes the Global Biometrics as a Service Market based on modality type, application, rack unit, deployment, organization size, and geography. Based on the modality types classified as multimodal and unimodal. An application includes in the market are Low Enforcement & Border Control, Mobile Banking, Payments and Authentication, Workforce Management, Civil Identity, and Elections, Identity Proofing & Credentialing. Rack unit classified as Above 40 RU, 25-40 RU, Up to 25 RU. Deployment model is sub-segmented into public, private and hybrid. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
The key driving factor for this market include capabilities such as biometrics onboarding, duplicate checking, and authentication-as-a-service over the internet, through a cloud-based infrastructure. The biometric services capture both physiological and behavioral aspects of human beings, thus providing authentication based on fingerprint, face, iris, voice, and vein, among others
Based on organization size, large size enterprises segment is anticipated to lead the market share over the forecast period, and anticipated to hold the largest market share owing to the growing security threats across the globe and the rising usage of mobile devices are expected to create significant demand for biometrics-as-a-service solutions and fuel the growth of the market.
Based on application, civil identity and elections segment are expected to witness the highest CAGR during the forecast period. Countries nearby the world are enrolling its people for various identification initiatives. Biometrics provides fast and secure registration otherwise identification, which has contributed to the growth in this segment.
In terms of geographically, a growth of the market in the APAC region is anticipated to dominate the market over the forecast period majorly owing to provide several opportunities in the market and is projected to grow at the highest CAGR during the forecast period.
Key players operating on the market are, Aware, Inc., M2sys, Bioid, Iritech, Smilepass , PQ Solutions, Accenture, Infineon, Aware, Inc., Fujitsu, Leidos.
The Scope of the Global Biometrics as a Service Market Report:
Global Biometrics as a Service Market, by Modality Type:
- Multimodal
- Unimodal
Global Biometrics as a Service Market, by Applications:
- Low Enforcement & Border Control
- Mobile Banking, Payments and Authentication
- Workforce Management
- Civil Identity and Elections
- Identity Proofing & Credentialing
Global Biometrics as a Service Market, by Rack Unit:
- Above 40 RU
- 25-40 RU
- Up to 25 RU
Global Biometrics as a Service Market, by Deployment Model:
- Private Cloud
- Public Cloud
- Hybrid Cloud
Global Biometrics as a Service Market, by Organization Size:
- Small & Medium Enterprises
- Large Enterprises
Global Biometrics as a Service Market, by Geographies:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
The major key players that influence growth of Global Biometrics as a Service Market:
- Aware, Inc.
- M2sys
- Bioid
- Iritech
- Smilepass
- PQ Solutions
- Accenture
- Infineon
- Aware, Inc.
- Fujitsu
- Leidos
This Article Is Submitted By This @Maximize Market Research Company
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