Biometric-as-a-Service Market

Biometric-as-a-Service Market Overview

The biometric-as-a-service market is growing tremendously and is estimated to record an impressive CAGR of 23% during 2022-2032.

“Biometric as a service is gaining popularity in various institutions such as corporates, universities, schools, office, workplaces, organization owing to the digitization of attendance and records of the staff.”

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.

Which are the Factors Affecting the Biometrics-as-a-Service Market Growth?

“Among all the biometric systems available in the market, biometric fingerprint scanners will dominate the market because of its easy installation and low price.”

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.  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.

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.

Some of the other 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.

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.

Nikhil Kaitwade

Principal Consultant

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Who are the Key Players in the Biometrics-as-a-Service Market?

Biometric equipment manufacturers are targeting the small business and hostel facilities by developing new types of biometric scanners as per their specific needs.”

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.

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.

Examples of some of the key players operating in the biometric-as-a-service market are Fujitsu, Bio ID, HYPR (US), Aware, Inc., OT-Morph, M2SYS (US), SUPREMA Leidos (US), Image Ware Systems, CERTIFY GLOBAL, Polygon Innovation, Iri Tech, Sky Biometry , Right Patient, VoiceIt Technologies Athena Sciences Corporation, Smile Pass, BYTES TECHNOLOGY GROUP-Bytes SI, Fulcrum Biometrics, SecurAX, Accenture, , Aim Brain, Certibio, and Speech Pro (U.S.).

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