Global Biometrics-as-a-Service (BaaS) Market 2020-2030 by Offering, Modality, Technology, Enterprise Size, Deployment Mode, End User, and Region: Trend Forecast and Growth Opportunity

Global Biometrics-as-a-Service (BaaS) Market 2020-2030 by Offering, Modality, Technology, Enterprise Size, Deployment Mode, End User, and Region: Trend Forecast and Growth Opportunity

Bonafide Trust 28-06-2022 181 Pages Figures : 85 Tables : 90
Region : Global Category : IT & Telecommunications Technology

Global biometrics-as-a-service (BaaS) market will reach $10.40 billion by 2030, growing by 16.2% annually over 2020-2030 owing to the rising need for biometrics service and technology. An effective replacement for conventional biometric software models is biometric-as-a-service (BaaS). The technology makes biometric deployment and use possible for many kinds of businesses. With BaaS, users can begin implementing facial recognition and fingerprint scanning to record these facts about clients and staff, as well as to thwart potential fraud, improve customer service, and streamline operations without having to spend a lot of money, time, or resources on software acquisition and integration. Technology advancements, together with an increase in demand for biometric-as-a-service technology in a variety of industries, including automotive, commercial buildings, defence & security, and consumer electronics, are fueling the expansion of the biometric-as-a-service market. BaaS is useful in a variety of settings, including data centres, nuclear reactor sites, research and development facilities, and more. The BaaS industry is expected to develop in the future due to service expansion and rising need for more complete security, both offline and online. In order to improve capabilities and technologies and get absorbed on a service provider's whole biometrics infrastructure, businesses are working on integrating biometrics with the cloud. Mobile devices and allied industries are using consumer biometrics more frequently, and demand is particularly high for device security and access control. For instance, WhatsApp introduced a new privacy feature for Android users. It enables users to protect their accounts using fingerprint sensors for biometric authentication. The anonymity connected with SIM card purchases is eliminated by biometric registration. A person will have to register their fingerprint with the telecom services provider each time they want to buy a card. If someone uses the associated number to perform any crime, this will make it easier to identify them. This is especially useful in regions of the world where reselling SIM cards to people or organisations involved in terrorism, Internet fraud, or kidnapping is a problem. Biometrics are effective and allow for quick registration. They also let service providers recognise when an illegal user or person is abusing a connection. For instance, in March 2020, the Nigerian Compliance Monitoring and Enforcement team had 9.2 million incorrectly registered SIM cards on mobile networks. One of the key trends witnessed in the market studied is a model shift in business discourse toward more privacy and fewer security threats. The end-users are increasingly expecting for integrated solutions, rather than depending on traditional methods. Consumer biometric applications have expanded rapidly over the recent years, with increased adoption of mobile devices. The global biometrics demand is anticipated to develop at a significant growth rate, owing to the rising number of terrorist activities, the increasing theft activities about crucial data, and information that have raised concerns regarding national security. Significant factors, such as growth in the e-passport program, government support, and extensive use in criminal identification, are expected to drive the market’s growth over the forecast period majorly.

Covid-19 Impact on Biometrics 

Global businesses have experienced changes of a similar scope as a result of the COVID-19 pandemic outbreak and the global response to it. COVID-19 is anticipated to have both serious short-term consequences and a potential long-term effect. Technologies like biometrics, artificial intelligence (AI), and machine learning (ML) are anticipated to be crucial in the fight against this pandemic. In order to stop the spread of COVID-19, biometric systems have been widely used throughout the world as a critical tool for early detection, patient screening, and public safety monitoring. Biometrics are being swiftly incorporated into protocols for the prevention and control of infectious diseases in key industries like surveillance, border control, law enforcement, healthcare, and biotechnologies. In order to identify people who are not wearing protective masks, face recognition and surveillance activities are being enhanced. Additionally, AI algorithms are being improved in order to correctly recognise people even while they are hiding behind masks. Industry analysts predict that after the COVID-19 epidemic, touchless biometric identification technologies like facial and iris recognition will gain significant acceptance. Since the likelihood of COVID-19 spreading increases when touch-based technologies like vein and fingerprint recognition are used, these technologies have already begun to acquire popularity on a global scale. To stop the spread of COVID-19, numerous governments, law enforcement organisations, etc. have already abandoned touch-based biometric authentication and embraced touchless biometric authentication methods. Hence Innovating contactless biometrics authentication methods requires pushing the boundaries of AI and ML technologies and algorithms. Systems that can evaluate behavioural patterns and emotional/psychological states to monitor, predict, and prepare for any anomalous incident are also predicted to gain traction in the near future. These systems include temperature and fever detection systems.

Highlighted with 85 tables and 90 figures, this 181-page report “Global Biometrics- as-a-Service (BaaS) Market 2020-2030 by Offering, Modality, Technology, Enterprise Size, Deployment Mode, End User, and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global biometrics-as-a-service market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. 

In-depth qualitative analyses include identification and investigation of the following aspects:
   • Market Structure 
   • Growth Drivers 
   • Restraints and Challenges
   • Emerging Product Trends & Market Opportunities
   • Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global biometrics-as-a-service market in every aspect of the classification from perspectives of Offering, Modality, Technology, Enterprise Size, Deployment Mode, End User, and Region. 

By Offering
     • Solutions
     • Service

By Modality
     • Unimodal BaaS
     • Multimodal Baas

By Technology 
     • Fingerprint Recognition
     • Voice Recognition
     • Signature Recognition
     • Iris Recognition
     • Palm/Hand Recognition
     • Face Recognition
     • Behavior Recognition
     • Other Technologies

By Enterprise Size
     • SMEs
     • Large Enterprises

By Deployment Mode
     • On-Premise BaaS
     • On-Cloud BaaS

By End User
     • Government
     • Travel
     • BFSI
     • Healthcare
     • E-commerce & Retail
     • Defense
     • IT & Telecommunication
     • Other End-Users

By Geography
     • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
     • Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
     • North America (U.S., Canada, and Mexico)
     • South America (Brazil, Chile, Argentina, Rest of South America)
     • Rest of the World (Saudi Arabia, UAE, South Africa)

For each aforementioned region and country, detailed analysis and data for annual revenue are available for 2019-2030. The breakdown of all regional markets by country and split of key national markets by Modality, Technology, and End User over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in global biometrics-as-a-service market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.

Key Players (this may not be a complete list and extra companies can be added upon request): Accenture PLC,Aware Inc., BioEnable Technologies Pvt. Ltd, BioID Technology, Certibio, Fingerprint Cards Ab, Fujitsu Limited, Fulcrum Biometrics, LLC, HYPR Corp., IDEMIA France SAS, ImageWare Systems Inc., IriTech Inc., Leidos Holdings Inc., M2SYS Technology, Mobbeel Solutions S.L.L., MorphoTrust USA, NEC Corp., Nuance Communications Inc., Phonexia SRO, Precise Biometrics AB, Secur-eye, SIC Biometrics, Inc., SmilePass Ltd., 

(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

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