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Market Research Report
Product code
922181
Global Biometrics-As-A-Service Market 2019-2025 |
Global Biometrics-As-A-Service Market 2019-2025 |
Published: January 7, 2020
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
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Global Biometrics-As-A-Service Market Size, Share & Trends Analysis Report, By Scanner Type (Fingerprint Recognition, Iris Recognition, Palm Recognition, Facial Recognition, and Others), By Verticals (BFSI, IT and Telecommunication, Healthcare, Government and Utilities, Retail, and Others), and Forecast 2019-2025
The global Biometrics-As-A-Service Market is growing at a CAGR of XX% during the forecast period. The growing trend of Bring Your Own Devices (BOYD) and increasing cyber-attacks across the globe are projected to drive the global biometrics-as-a-service. Furthermore, advancement in cloud computing technologies and increasing storage capacity of clouds for biometric-as-a-service are also estimated to be major factors that are fuelling the growth of the market. However, certain factors are hindering the growth of the market. Safety and security issues and lack of awareness about the biometrics-as-a-service are estimated to be the major constraints for the growth of the market.
The market is segmented based on scanner type, and verticals. Based on the scanner type, the market is segmented into fingerprint recognition, iris recognition, palm recognition, facial recognition, and others. Based on verticals, the BFSI is anticipated to hold the largest share during the forecast period. Fingerprint recognition is a cost-effective technology and is predominantly adopted by various industry verticals, contributing to the segmental growth of the market. Further, on the basis of verticals, the market is segmented into BFSI, IT and telecommunications, healthcare, retail, government and utilities, and others. BFSI is expected to hold a significant share and continue the same trend during the forecast period.
The global biometrics-as-a-service market is further segmented on the basis of geography into North America, Europe, Asia-Pacific and the Rest of the World. North America is estimated to be the leading region in the market. Early adoption of the advanced technology in the region is backing the growth of the market in the region. Further, Asia Pacific is expected to exhibit a considerable growth rate during the forecast period. Government initiatives in developing countries such as India and China to promote digitalization and increasing adoption of the technology in SMEs are driving the regional growth of the market.
Some of the players operating in the global biometrics-as-a-service market include Aware Inc., BioEnable Technologies Pvt. Ltd., NEC Corp., Nuance Communications Inc., Certibio, Fujitsu Ltd., and others. To survive in the market, these players adopt different growth strategies such as mergers and acquisitions, and partnerships and collaboration. For instance, in April 2019, Fujitsu collaborated with Kia Motors Australia to develop a biometric-enabled police highway patrol vehicle with a critical information system integrated into the in-car infotainment system.
The market study of the global biometrics-as-a-service market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
The report is intended for biometrics manufacturers, suppliers, third-party distributors, IT firms, software vendors, cloud-based services vendors, companies working on advanced technologies, BFSI, defense, government, IT and Telecommunication company and their related software companies, for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.