Biometric-as-a-Service Market Forecast Report | Global Analysis, Demand, Revenue, Competitive Landscape, and Trend Analysis Research Report by 2027

Biometric-as-a-Service Market

The global Biometric-as-a-Service (BaaS) market size is expected to reach USD 6.41 Billion in 2028 and register a steady CAGR of 19.8%, according to latest analysis by Emergen Research. Key factors driving market revenue growth include advancements in technology coupled with rising demand for Biometric-as-a-Service (BaaS) technology in automotive, commercial centers, defense & security and consumer electronics applications, among others.

The report formulated with authentic information and in-depth analysis of the data by a thorough examination of the market trends, growth opportunities, emerging areas, drivers and restraints, and other key features that aims to offer the investors and shareholders insightful data of the market landscape. This can assist them in making beneficial investment plans. The report also covers the analysis of the competitive landscape by thorough profiling of the companies actively engaged in the industry. Along with this, the report offers insights into their business profiles, product portfolio, and financial standings.

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Some Key Highlights From the Report

• In May 2020, Innovatrics and Daltrey, which is an ID access management company, partnered to develop Biometric-as-a-Service solution for frictionless authentication with passive liveness detection. Most current biometric facial recognition benchmarks show Innovatrics technology is among the fastest in identifying people from large data sets.
• The retail segment accounted for largest revenue share in 2020 due to rising preference for access control of employees, which allows retailers to curb theft of inventory on-premise. The technology is also being explored for promotional and advertising targeting purposes. In March 2021, Piestro, which is a pizzeria-maker, partnered with PopID for safer, easier, and faster biometrics-based solutions for pizza lovers. The partnership will enable on-site contactless ordering and payment as well as use of PopID-compatible machines to view menus, place orders, and complete payments using the same screen.
• Biometric-as-a-Service market revenue in Asia Pacific is expected to increase at the fastest growth rate during the forecast period owing to rapid urbanization and digitalization and growth in sectors such as IT and Telecom, BFSI, and retail. The region has become a point of attraction for numerous multinational companies looking to expand their business, expand customer base, and drive revenues.
• Key players in the market include Fujitsu, Thales, Lexis Nexis, Idemia, Microsoft, Google, Accenture, Fingerprints, Amazon, and Bayometric.

Biometric-as-a-Service Market Segmentation:

Emergen Research has segmented the global biometric-as-a-service market on the basis of offering, type, organization size, vertical, and region:

• Offering Outlook (Revenue, USD Billion; 2018–2028)
  • Solutions
  • Services
• Type Outlook (Revenue, USD Billion; 2018–2028)
  • Face Recognition
  • Fingerprint Recognition
  • Voice Recognition
  • Iris Recognition
  • Palm and Vein Recognition
  • Others (DNA, Signature, Keystroke)
• Organization Size Outlook (Revenue, USD Billion; 2018–2028)
  • Small and Medium Enterprises
  • Large Enterprises
• Vertical Outlook (Revenue, USD Billion; 2018–2028)
  • BFSI
  • Education
  • Government (Public Administration)
  • IT and ITES
  • Healthcare
  • Manufacturing
  • Others
    1. Entertainment
    2. Transportation
    3. Energy and Utilities
    4. Retail
    5. Telecommunication
    6. Other Professional Services

The research study also offers insights into various regulatory frameworks and evaluates the growth of the industry in each key region of the world. The report also provides an assessment of the micro and macro-economic factors influencing the growth of the market in the mentioned regions. The global Biometric-as-a-Service market is segmented into the following based on the key regions of the world:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Summary of the Global Biometric-as-a-Service Report:

• Comprehensive analysis of the market including risks and opportunities
• Details of business strategies and plans undertaken by key market players
• Analysis of current and future trends that will affect the growth of the market in the forecast timeline
• In-depth analysis of drivers and constraints for better understanding of the market
• The report encompasses a detailed forecast for the years 2020-2027.
• The report provides valuable insights on key market growth driving trends and monetary competence in the forecast timeline.

Table Of Content:

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope  
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Biometric-as-a-Service Market Segmentation & Impact Analysis
    4.1. Biometric-as-a-Service Market Material Segmentation Analysis
    4.2. Industrial Outlook 
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Growing usage of mobile devices
                    4.2.2.2. High security threats
                    4.2.2.3. Increasing demand for cost-effective solutions to access advanced biometrics capabilities
          4.2.3. Market restraints analysis 
                    4.2.3.1. Security of biometric data stored on the cloud
    4.3. Technological Insights 
    4.4. Regulatory Framework
    4.5. Porter’s Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

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