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

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

Bonafide Trust 28-06-2022 118 Pages Figures : 26 Tables : 54
Region : North America Category : IT & Telecommunications Technology

The term "biometrics-as-a-service" (BaaS) refers to a cloud-based programme that uses a person's biological and behavioural traits to identify and authenticate them. It is built on biometrics technology that accurately detects the user's presence through facial, voice, and eye contact. This makes it possible to use advanced biometric identification across the entire company, which helps to increase the security of the current organisational architecture. BaaS systems are more scalable, cost- and time-effective, and less vulnerable to fraud than the more common paper- and pin-based authentication methods. Modern BaaS solutions can be used for online and workspace administration, time tracking, and site and mobile access control. North America biometrics-as-a-service (BaaS) market is expected to grow by 15.8% annually in the forecast period and reach $3,493.75 million by 2030. One of the main factors contributing to the market's optimistic outlook is the expanding requirement for comprehensive authentication systems and the increasing acceptance of cloud-based services by businesses around the world. Organizations in both the public and private sectors are implementing cutting-edge BaaS solutions to thwart security breaches and identity theft. Additionally, the market growth is being boosted by the extensive use of these solutions in the banking, healthcare, and retail industries. For instance, financial service providers now provide mobile-based applications for highly sensitive digital wallets and virtual transactions that can only be accessed with the help of cutting-edge authentication technologies like voice or facial recognition and fingerprint scanning. Other growth-promoting aspects include numerous technological developments, such as the incorporation of BaaS with smartphones, tablets, and laptops. This makes it easier to do business in multi-device and location-neutral contexts. The market is anticipated to grow as a result of additional factors, such as rising urbanisation and the implementation of beneficial government programmes to improve national security. According to the Federal Trade Commission, identity theft in the payment and banking industries is quite common in the US, which will increase the use of high-tech identification services like biometrics. Mastercard wanted to offer biometric authentication services to each and every customer. Banks that accept Mastercard payments are now required to support this kind of identification. Therefore, the need for biometric systems would increase further if more BFSI industry participants adopted this approach. One of the main reasons why the US has been one of the early adopters of technology is the abundance of R&D activity there. The nation has long utilised biometric technologies for identity verification procedures and systems as well as authentication purposes. Biometrics have a vast market due to their wide range of applications, whether it be governmental entities or even global banks.

Covid-19 impact
Numerous sectors across the globe have been impacted by the COVID-19 outbreak and the worldwide lockdown, including the market under investigation. The adoption pattern for biometrics has significantly changed as a result of the recent COVID-19. The COVID-19 has created a significant market for non-contact sensing technologies. Touch-based technologies are losing market share, while touchless technologies are now overtaking them. Various end-users, including offices, hospitals, airports, and secure locations that rely on card readers, fingerprint readers, or manual processes, can all be seen using the trend. The market is also being driven by the steadily rising acceptance of non-contact biometric attendance in these applications. As many governmental organisations assert that there is a risk of infection via these frequently touched surfaces, the market has seen a significant fall in fingerprint recognition over the last three to four months.

The report titled,“North America Biometrics- as-a-Service (BaaS) Market 2020-2030 by Offering, Modality, Technology, Enterprise Size, Deployment Mode, End User, and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire North America 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 North America 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 North America biometrics-as-a-service market in every aspect of the classification from perspectives of Offering, Modality, Technology, Enterprise Size, Deployment Mode, End User, and Country. 

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
     • U.S.
     • Canada
     • Mexico

For each aforementioned country, detailed analysis and data for annual revenue are available for 2019-2030. The breakdown 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 North America 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.)

Read More

Card image cap

Interested in this report?
Get your FREE sample!

Requirement Gathering & Methodology
Data Collection Techniques
Our Research Team & Data Sourcing
Data Science & Analytical Tools
Data Visualization & Presentation Skills
Project/ Report Delivery & After Sales Services