Europe 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

Biometric is a technology that is used by the organizations as a component of high end security solutions to store the information and analyse the biological data of a user by capturing unique his or her physical human features. Scanning device or a reader, software to convert the scanned information into digital form, and a database to store the biometric data are the basic components of biometrics technology. Europe biometrics-as-a-service (BaaS) market reached $490.72 million in 2019 and will grow by 15.2% annually over 2020-2030.The main drivers of the growth of the biometric as a service are the rapid adoption of cutting-edge technologies like artificial intelligence and internet of things, the growing demand for resources and solutions that provide high-end security and assurance at low cost, and the rapid development of infrastructure, particularly in the various developing regions of the world. The development of cloud-based biometrics and an increasing focus on technological developments in security and surveillance systems will be key market growth drivers. Increased demand for biometrics services and products from the healthcare industry, strict government data security regulations, an increase in cases of false identity, cyberattacks, and data breaches in the healthcare industry, as well as an increase in the cost of R&D for security solutions, will all hinder market growth. However, lack of skilled workforce and technological expertise in underdeveloped and developing economies will act as a growth restraint for the market. Lack of a strong IT infrastructure in developing and underdeveloped countries will yet again hamper the market growth rate. Also, high initial investments, surging maintenance costs and rising security and privacy concerns of biometric data stored on cloud will also hamper the market growth rate. Additionally, the market for biometric as a service is expanding significantly due to the industrial need for quick and secure registration. With the aid of biometric-as-a-service, it is possible to identify employees in workplaces. A lot of basic and common consumer electronics, like cellphones and other gadgets, are used in biometrics-as-a-service. During the projected period, it is anticipated that biometrics-as-a-intelligent service's operation would open up new market opportunities. Additionally, the demand for biometric-as-a-service is anticipated to rise in the coming years as a result of an expansion in corporate and industry size and the number of personnel. The market for biometrics as a service will experience significant expansion in the upcoming year thanks to the same.
The growing use of biometric systems in the transportation and healthcare industries is the cause of the increased demand for biometrics in the United Kingdom. The sector is also being helped by the switch from conventional to innovative biometric technologies. The federal government of Germany is a significant end consumer. The French biometrics market is being driven by the government, banking, financial services, and insurance industries. The French government has announced plans to create a database for its 60 million citizens that would include their standard biometric data. The Italian biometrics market is expanding significantly. In fact, it is anticipated that during the predicted period the nation will record the greatest CAGR. Italy's biometrics market is another significant one in this area. The nation is anticipated to have the highest growth rate by the end of the predicted years.

Covid-19 Impact on Biometrics Market
The World Health Organization classified COVID-19 as a pandemic in March 2020, which led to travel restrictions, turbulence in the financial markets, as well as detrimental effects on supply chains and output levels. The COVID-19 pandemic has significantly increased demand for touchless biometric solutions, particularly in the healthcare sector, as well as created substantial disruptions and changes in a variety of industries. Advanced multifactor and multimodal biometric technologies are becoming more and more important due to their accuracy and conformance with COVID-19's social distancing norms. In order to avoid physical contact and virus transmission, companies must refrain from using palm print, fingerprint, and hand-key scanners. These steps are paving the way for user-friendly iris scans and facial recognition technology that may be used in a variety of settings.
Highlighted with 36 tables and 58 figures, this 126-page report “Europe 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 Europe 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 Europe 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 Europe 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

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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

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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
     • Germany
     • UK
     • France
     • Spain
     • Italy
     • Russia
     • Rest of Europe (further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)

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 Europe 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.)