The global biometrics-as-a-service market has grown exponentially in recent years. It will grow from $2.99 billion in 2023 to $3.75 billion in 2024 at a compound annual growth rate (CAGR) of 25.7%. The growth in the historic period can be attributed to increasing digital transformation, rise of cloud services, rise of remote work and access, improved accuracy and reliability.
The global biometrics-as-a-service market is expected to see exponential growth in the next few years. It will grow to $10.48 billion in 2028 at a compound annual growth rate (CAGR) of 29.3%. The growth in the forecast period can be attributed to increased security demands, increasing mobile and iot integration, growth in healthcare and telemedicine, infrastructure growth. Major trends in the forecast period include growing use of mobile biometrics, cloud-based baas solutions, enhanced security for online transactions, technological advancements.
The increasing adoption of biometrics is expected to fuel the growth of the biometrics-as-a-service market in the foreseeable future. Biometrics involves the measurement and statistical analysis of individuals to recognize or verify their claimed identity. As a service, biometrics is employed to authenticate a user's identity, granting access to secure physical or digital environments, as well as safeguarding transactions and facilitating various functions related to workforce management. For instance, a survey conducted by Goode Intelligence in April 2021, which involved 220 respondents, revealed that 73% of participants use biometrics to ensure a positive customer and user experience, while 64% prioritize biometric technology that supports remote onboarding and mobile applications. Additionally, a survey by Visa Inc. in May 2022, involving 1,000 Americans, showed that 70% of consumers find biometrics more convenient, and 86% express interest in adopting them for identity authentication and payment purposes. Hence, the increasing adoption of biometrics is a driving force behind the growth of the biometrics-as-a-service market.
The increasing sophistication of security threats is expected to be a major catalyst for the growth of the biometrics-as-a-service market in the coming years. Security threats represent potential dangers or risks that can jeopardize the confidentiality, integrity, or availability of information and resources. Biometrics as a service plays a crucial role in enhancing security by offering convenient and reliable identity verification, thus reducing the likelihood of unauthorized access and identity-related security breaches. For example, in June 2022, the Anti-Phishing Working Group, a US-based organization, reported a total of 1,025,968 phishing attacks in the first quarter of 2022, marking a 15% increase from the fourth quarter of 2021, when 888,585 attacks were recorded. Hence, the rising sophistication of security threats is a driving force behind the growth of the biometrics-as-a-service market.
Privacy concerns stemming from the use of biometrics-as-a-service present a significant challenge that may impede market growth in the forecast period. Privacy concerns refer to the apprehension individuals feel about the safeguarding and utilization of their personal information provided to an entity. The deployment of biometrics raises valid concerns about the security and privacy of personal data. For example, in May 2023, the Federal Trade Commission, a US-based government agency, issued a warning about the growing use of consumers' biometric information and related technologies. The use of biometric information technologies to identify consumers in specific locations could potentially reveal sensitive personal details about them, such as their attendance at healthcare facilities, religious services, or political or union meetings. Therefore, privacy concerns associated with the use of biometrics-as-a-service pose a hindrance to the market's growth.
Leading companies in the biometrics-as-a-service market are embracing advanced technologies like multimodal biometric authentication to offer reliable services and fortify their market presence. Multimodal biometric authentication involves using two or more distinct biometric identifiers for multi-factor authentication. For example, in November 2022, NEC Corporation, a prominent Japanese information technology and electronics company, introduced Bio-IDiom, a multimodal biometric authentication solution. This system combines face recognition and iris recognition, enabling high-precision, rapid authentication with an impressively low false acceptance rate of less than one in 10 billion. The biometric authentication facilitated by this technology allows for a unified ID, streamlining seamless collaboration across various services and enhancing the development of innovative client experiences and services. Additionally, the solution ensures precise data capture by automatically adjusting the camera's position based on the user's height.
In May 2022, LexisNexis Risk Solutions, a US-based analytics company, acquired BehavioSec for an undisclosed amount. This acquisition fortified LexisNexis' capability to effectively detect and authenticate digital identities. BehavioSec, a US-based advanced technology provider, is known for its expertise in behavioral biometrics.
Major players in the biometrics-as-a-service market are Accenture PLC, Fujitsu Ltd., NEC Corporation, Thales Group, Leidos Holdings Inc., IDEMIA SA, Nuance Communications Inc., HID Global Corporation, Bytes Technology Group PLC, VoiceIt Technologies LLC, Imprivata Inc., Uniphore Software Systems Private Limited., Suprema Inc., BioEngagable Technologies Pvt Ltd., Aware Inc., Cognitec Systems GmbH, Integrated Biometrics LLC, IRITECH Inc., CERTIFY Global Inc., M2SYS Technology Inc., SecuGen Corporation, Athena Sciences Corporation, ImageWare Systems Inc., Mogimo Inc., Accu -Time Systems Inc., Clearview AI Inc., Biometrics Research Group Inc. , Union Community Co Ltd., Skybiometry, Speech Technology Center Limited.
North America was the largest region in the biometrics-as-a-service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in biometrics-as-a-service report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the biometrics-as-a-service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The biometrics-as-a-service scanners encompass a range of technologies, including fingerprint recognition, iris recognition, palm recognition, facial recognition, voice recognition, and others. Fingerprint recognition involves an automated process that verifies or identifies a person by comparing two fingerprints. These biometric modalities, whether unimodal or multimodal, can be deployed across public, private, and hybrid cloud environments. They find applications in various sectors including government, retail, IT, telecom, BFSI, healthcare, and others, serving purposes such as site access control, time recording, mobile applications, web-based solutions, and workplace applications.
This report provides biometrics-as-a-service market statistics, including biometrics-as-a-service industry global market size, regional shares, competitors with a biometrics-as-a-service market share, detailed biometrics-as-a-service market segments, market trends and opportunities and any further data you may need to thrive in the biometrics-as-a-service industry. This biometrics-as-a-service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The biometrics-as-a-service market consists of revenues earned by entities by providing such as fraud prevention, access control and identity verification. The market value includes the value of related goods sold by the service provider or included within the service offering. The biometrics-as-a-service market also includes sales of palm or finger vein pattern sensors, cameras, signature pads and document readers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The global biometrics-as-a-service market is expected to see exponential growth in the next few years. It will grow to $10.48 billion in 2028 at a compound annual growth rate (CAGR) of 29.3%. The growth in the forecast period can be attributed to increased security demands, increasing mobile and iot integration, growth in healthcare and telemedicine, infrastructure growth. Major trends in the forecast period include growing use of mobile biometrics, cloud-based baas solutions, enhanced security for online transactions, technological advancements.
The increasing adoption of biometrics is expected to fuel the growth of the biometrics-as-a-service market in the foreseeable future. Biometrics involves the measurement and statistical analysis of individuals to recognize or verify their claimed identity. As a service, biometrics is employed to authenticate a user's identity, granting access to secure physical or digital environments, as well as safeguarding transactions and facilitating various functions related to workforce management. For instance, a survey conducted by Goode Intelligence in April 2021, which involved 220 respondents, revealed that 73% of participants use biometrics to ensure a positive customer and user experience, while 64% prioritize biometric technology that supports remote onboarding and mobile applications. Additionally, a survey by Visa Inc. in May 2022, involving 1,000 Americans, showed that 70% of consumers find biometrics more convenient, and 86% express interest in adopting them for identity authentication and payment purposes. Hence, the increasing adoption of biometrics is a driving force behind the growth of the biometrics-as-a-service market.
The increasing sophistication of security threats is expected to be a major catalyst for the growth of the biometrics-as-a-service market in the coming years. Security threats represent potential dangers or risks that can jeopardize the confidentiality, integrity, or availability of information and resources. Biometrics as a service plays a crucial role in enhancing security by offering convenient and reliable identity verification, thus reducing the likelihood of unauthorized access and identity-related security breaches. For example, in June 2022, the Anti-Phishing Working Group, a US-based organization, reported a total of 1,025,968 phishing attacks in the first quarter of 2022, marking a 15% increase from the fourth quarter of 2021, when 888,585 attacks were recorded. Hence, the rising sophistication of security threats is a driving force behind the growth of the biometrics-as-a-service market.
Privacy concerns stemming from the use of biometrics-as-a-service present a significant challenge that may impede market growth in the forecast period. Privacy concerns refer to the apprehension individuals feel about the safeguarding and utilization of their personal information provided to an entity. The deployment of biometrics raises valid concerns about the security and privacy of personal data. For example, in May 2023, the Federal Trade Commission, a US-based government agency, issued a warning about the growing use of consumers' biometric information and related technologies. The use of biometric information technologies to identify consumers in specific locations could potentially reveal sensitive personal details about them, such as their attendance at healthcare facilities, religious services, or political or union meetings. Therefore, privacy concerns associated with the use of biometrics-as-a-service pose a hindrance to the market's growth.
Leading companies in the biometrics-as-a-service market are embracing advanced technologies like multimodal biometric authentication to offer reliable services and fortify their market presence. Multimodal biometric authentication involves using two or more distinct biometric identifiers for multi-factor authentication. For example, in November 2022, NEC Corporation, a prominent Japanese information technology and electronics company, introduced Bio-IDiom, a multimodal biometric authentication solution. This system combines face recognition and iris recognition, enabling high-precision, rapid authentication with an impressively low false acceptance rate of less than one in 10 billion. The biometric authentication facilitated by this technology allows for a unified ID, streamlining seamless collaboration across various services and enhancing the development of innovative client experiences and services. Additionally, the solution ensures precise data capture by automatically adjusting the camera's position based on the user's height.
In May 2022, LexisNexis Risk Solutions, a US-based analytics company, acquired BehavioSec for an undisclosed amount. This acquisition fortified LexisNexis' capability to effectively detect and authenticate digital identities. BehavioSec, a US-based advanced technology provider, is known for its expertise in behavioral biometrics.
Major players in the biometrics-as-a-service market are Accenture PLC, Fujitsu Ltd., NEC Corporation, Thales Group, Leidos Holdings Inc., IDEMIA SA, Nuance Communications Inc., HID Global Corporation, Bytes Technology Group PLC, VoiceIt Technologies LLC, Imprivata Inc., Uniphore Software Systems Private Limited., Suprema Inc., BioEngagable Technologies Pvt Ltd., Aware Inc., Cognitec Systems GmbH, Integrated Biometrics LLC, IRITECH Inc., CERTIFY Global Inc., M2SYS Technology Inc., SecuGen Corporation, Athena Sciences Corporation, ImageWare Systems Inc., Mogimo Inc., Accu -Time Systems Inc., Clearview AI Inc., Biometrics Research Group Inc. , Union Community Co Ltd., Skybiometry, Speech Technology Center Limited.
North America was the largest region in the biometrics-as-a-service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in biometrics-as-a-service report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the biometrics-as-a-service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The biometrics-as-a-service scanners encompass a range of technologies, including fingerprint recognition, iris recognition, palm recognition, facial recognition, voice recognition, and others. Fingerprint recognition involves an automated process that verifies or identifies a person by comparing two fingerprints. These biometric modalities, whether unimodal or multimodal, can be deployed across public, private, and hybrid cloud environments. They find applications in various sectors including government, retail, IT, telecom, BFSI, healthcare, and others, serving purposes such as site access control, time recording, mobile applications, web-based solutions, and workplace applications.
This report provides biometrics-as-a-service market statistics, including biometrics-as-a-service industry global market size, regional shares, competitors with a biometrics-as-a-service market share, detailed biometrics-as-a-service market segments, market trends and opportunities and any further data you may need to thrive in the biometrics-as-a-service industry. This biometrics-as-a-service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The biometrics-as-a-service market consists of revenues earned by entities by providing such as fraud prevention, access control and identity verification. The market value includes the value of related goods sold by the service provider or included within the service offering. The biometrics-as-a-service market also includes sales of palm or finger vein pattern sensors, cameras, signature pads and document readers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Biometrics-as-a-Service Market Characteristics3. Biometrics-as-a-Service Market Trends and Strategies32. Global Biometrics-as-a-Service Market Competitive Benchmarking33. Global Biometrics-as-a-Service Market Competitive Dashboard34. Key Mergers and Acquisitions in the Biometrics-as-a-Service Market
4. Biometrics-as-a-Service Market - Macro Economic Scenario
5. Global Biometrics-as-a-Service Market Size and Growth
6. Biometrics-as-a-Service Market Segmentation
7. Biometrics-as-a-Service Market Regional and Country Analysis
8. Asia-Pacific Biometrics-as-a-Service Market
9. China Biometrics-as-a-Service Market
10. India Biometrics-as-a-Service Market
11. Japan Biometrics-as-a-Service Market
12. Australia Biometrics-as-a-Service Market
13. Indonesia Biometrics-as-a-Service Market
14. South Korea Biometrics-as-a-Service Market
15. Western Europe Biometrics-as-a-Service Market
16. UK Biometrics-as-a-Service Market
17. Germany Biometrics-as-a-Service Market
18. France Biometrics-as-a-Service Market
19. Italy Biometrics-as-a-Service Market
20. Spain Biometrics-as-a-Service Market
21. Eastern Europe Biometrics-as-a-Service Market
22. Russia Biometrics-as-a-Service Market
23. North America Biometrics-as-a-Service Market
24. USA Biometrics-as-a-Service Market
25. Canada Biometrics-as-a-Service Market
26. South America Biometrics-as-a-Service Market
27. Brazil Biometrics-as-a-Service Market
28. Middle East Biometrics-as-a-Service Market
29. Africa Biometrics-as-a-Service Market
30. Biometrics-as-a-Service Market Competitive Landscape and Company Profiles
31. Biometrics-as-a-Service Market Other Major and Innovative Companies
35. Biometrics-as-a-Service Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
This report provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on biometrics-as-a-service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for biometrics-as-a-service? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Report Scope
Markets Covered:
1) By Scanner Type: Fingerprint Recognition; Iris Recognition; Palm Recognition; Facial Recognition; Voice Recognition; Other Scanner Types2) By Modality: Unimodal; Multimodal
3) By Deployment Model: Public Cloud; Private Cloud; Hybrid Cloud
4) By Application: Site Access Control; Time Recording; Mobile Application; Web and Workplace
5) By End-User: Government; Retail; IT (Information Technology) and Telecom; Banking, Financial Services and Insurance (BFSI); Healthcare; Other End-Users
Key Companies Mentioned: Accenture plc; Fujitsu Ltd.; NEC Corporation; Thales Group; Leidos Holdings Inc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Methodology
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