The need to ensure data safety in any organization is increasing nowadays. Thus, software and solutions that can handle the same are high in demand. Biometric-as-a-service helps the organization in keeping their data safe and secure. The adoption of biometric-as-a-service is expected to increase during the forecast period due to increasing demand for security of data and need to manage it. Biometric-as-a-service is used by various companies owing to its benefits including security and ease of management and thus, providing a significant growth to the Biometric-as-a-service market. Moreover, cost-effectiveness is a key factor attracting the organizations toward adopting biometric-as-a-service. Also, biometric-as-a-service offers rapid deployment and integration to incorporate biometrics capabilities in the systems of the corporates. This is expected to fuel the growth of the biometric-as-a-service market during the forecast period. In addition, the industrial requirement of fast and secure registration is providing substantial growth to the biometric-as-a-service market. Identification of employees can be achieved in the offices with the help of biometric-as-a-service. Biometrics-as-a-service relies on simple and ubiquitous consumer devices such as smartphones and others. The smart functioning of biometrics-as-a-service is expected to give new scope to the biometrics-as-a-service market during the forecast period. Also, in future with the increasing number of the corporates and industries the need of the biometric-as-a-service is expected to increase owing to increasing number of employees. The same is going to provide a substantial growth to the biometric-as-a-service market in the coming year.
Biometric-as-a-service Market: Drivers and Challenges
Some of the drivers related to the biometric-as-a-service market include advancement in cloud computing technologies and increasing storage capacity of clouds for biometric-as-a-service. Also, the increasing data traffic and the surge in use of mobile devices are expected to contribute to the growth of the biometric-as-a-service market. The growing need to handle important data of the organization is expected to increase the adoption of biometric-as-a-service during the forecast period owing to rise of security of the organizational data. Moreover, with the increase in the number of employees in any organization, the use of biometric-as-a-service also increases providing substantial growth to the biometric-as-a-service market. In addition, biometric-as-a-service allows access to the biometric data from a place other than the parent one. This attracts the customers towards the biometric-as-a-service market. Thus, the biometric-as-a-service market is expected to have potential growth during the forecast period. However, the need for skilled people for operation of biometric-as-a-service is an expected challenge faced by biometric-as-a-service market during the forecast period. Also, less adoption of the biometric-as-a-service by small industries is expected to hinder the biometric-as-a-service market in the coming years.
Biometric-as-a-service Market: Segmentation
The global biometric-as-a-service market can be segmented based on type, component, application and region.
On the basis of type, the global biometric-as-a-service market is segmented as:
On the basis of component, the global biometric-as-a-service market is segmented as:
On the basis of application, the global biometric-as-a-service market is segmented as:
Biometric-as-a-service Market: Key Players
Examples of some of the key players operating in the biometric-as-a-service market are Fujitsu, BioID, HYPR (US), Aware, Inc., OT-Morph, M2SYS (US), SUPREMA Leidos (US), ImageWare Systems, CERTIFY GLOBAL, Polygon Innovation, IriTech, SkyBiometry , RightPatient, VoiceIt Technologies, SmilePass Athena Sciences Corporation, SmilePass, BYTES TECHNOLOGY GROUP-Bytes SI, Fulcrum Biometrics, SecurAX, Accenture, , AimBrain, Certibio, and SpeechPro (U.S.).
Biometric-as-a-service Market: Regional Overview
North America is expected to be the leading regional market for biometric-as-a-service owing to the presence of a large number of vendors and major IT companies. The market in APC is expected to grow at a high CAGR during the forecast period due to expansion of SMEs and startups. Europe is projected to witness significant growth in the global biometric-as-a-service market owing to increasing industrialization. The Middle East and Africa is expected to have a considerate growth in the global biometric-as-a-service market owing to increasing urbanization. China and Japan are expected to have significant growth in the biometric-as-a-service market due to the increasing number of IT-firms and advancement in technology.
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