The Global Biometric-as-a-Service (BaaS) Market size is projected to grow at a CAGR of around 19.78% during the forecast period, i.e., 2022-27. According to MarkNtel Advisors Study.
Global Biometric-as-a-Service (BaaS) Market Driver:
Digitalization and Growing Security Threats: The growing dependence on technology of the key industries, such as e-commerce, banking, security, etc., has urged the need for enhanced security mechanisms, which, in turn, has resulted in the increased integration of biometric services globally. Moreover, the mounting need to strengthen national security in many countries is also augmenting the demand for Biometric-as-a-Service (BaaS) models.
Governments worldwide are using BaaS to identify illegal immigrants, criminals, etc. For example, over 150 countries have adopted e-Passport programs, a combination of paper & electronic passports containing biometric identification information stored on an embedded microchip. It is for more accurate authentication of the identity of travelers while maintaining their privacy & the highest level of security.
Industries like healthcare, IT, banking, etc., are also shifting toward BaaS for more privacy & fewer security threats and are investing extensively in enhancing security systems. Moreover, the mounting demand for fingerprint scanning biometric solutions for payments & banking services is another crucial aspect positively influencing the global market. For instance:
In January 2021, What’s App launched a privacy measure, which allows users to secure their accounts through biometric authentication.
The increasing need to secure online transactions, surging security threats, and mounting adoption of advanced technologies by governments to create awareness among citizens and promote digitalization is anticipated to propel the overall market growth during 2022-27.
Download a free sample copy of the Report: https://www.marknteladvisors.com/query/request-sample/biometric-as-a-service-market.html
Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
*Reports Delivery Format – Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address.
Browse Full Report including(TOC+ List of Table and Figures) : https://www.marknteladvisors.com/research-library/biometric-as-a-service-market.html
Global Biometric-as-a-Service (BaaS) Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2021
-Historical Period: 2017 to 2020
-Forecast Period: 2022 to 2027
- By Component
- Solutions
- Services
- By End Users
- Banking and Financial Services
- Government
- IT/ITES
- Healthcare
- Manufacturing
- Energy & Utilities
- Retail
- Others (Transport, Entertainment, etc.)
- By Trait
- Physiological
- Face Recognition
- Fingerprint Recognition
- Iris Recognition
- Palm and Vein Recognition
- Others
- Behavioral
- Voice Recognition
- Signature Recognition
- Others
- Physiological
- By Organization Size
- Small & Medium Enterprises
- Large Enterprises
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Thales Biometrics, Leidos Holdings, Inc., Fujitsu Ltd., NEC Corporation, BioEngagable Technologies Pvt. Ltd., ImageWare Systems, Inc., M2SYS Technology – KernellÓ Inc., Mobbeel Solutions, S.L.L., Aware, Inc., IDEMIA France SAS, Clearview AI, Inc., Bayometric, Amazon Inc, Microsoft Corporation, & CERTIBIO are looking forward to strengthening their market positions.
Have questions? Our consultant is ready to assist: https://www.marknteladvisors.com/query/talk-to-our-consultant/biometric-as-a-service-market.html
Data-Driven Insights Backed by Proven Research
We follow a tried-and-tested research methodology that blends top-down and bottom-up approaches to deliver highly accurate market insights. Every report is powered by data triangulation, ensuring well-rounded and validated findings.
From smart sample selection and reliable data collection to in-depth analysis and precise forecasting, our process is designed to minimize error and maximize impact.
About Us –
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
Contact Us
MarkNtel Advisors
Email: sales@marknteladvisors.com
Website: www.marknteladvisors.com
Latest Press Release – https://www.marknteladvisors.com/press-release
