According to IMARC Group’s latest report, titled “Biometrics-as-a-Service Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global biometrics-as-a-service market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of 22.3% during 2021-2026. 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Biometrics-as-a-Service (BaaS) is an advanced security solution that uses an individual’s biological traits, such as face, palm-vein images, fingerprint, and iris, to authenticate a user’s access. This enables organizations and establishments to prevent data theft while offering a safeguard against cyberattacks and unwarranted access to their premises. Consequently, BaaS finds extensive applications across diverse industrial segments, including defense and corporate, for ensuring secured entry and also monitoring and tracking any case of discrepancy.

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Market Trends

Over the years, the information technology (IT) industry has witnessed an immense rise in the number of users requiring advanced security solutions to protect their properties. Besides this, governments of numerous countries have undertaken several data-security initiatives for securing highly-classified documents. These factors have, in turn, propelled the demand for BaaS significantly. Moreover, the increasing requirement for improved fraud prevention and detection systems has attracted heavy investments in the development of more advanced and efficient products with BaaS features. Along with this, the increasing integration of blockchain technologies and Artificial Intelligence (AI) with BaaS is further presenting vendors with expansion opportunities in the industry. This is expected to create a positive outlook for the market further.

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List of Key Companies Covered in this Market Report:

• Accenture
• Aware Inc.
• BioID
• Fujitsu Limited (Furukawa Group)
• Imageware Systems Incorporated (OTCMKT
• IDEMIA France
• Iritech Inc.
• M2SYS Inc.
• NEC Corporation
• Thales Group

Breakup by Component:

• Solutions
• Services

Breakup by Solution Type:

• Fingerprint Recognition
• Face Recognition
• Iris Recognition
• Voice Recognition
• Palm and Vein Recognition
• Others

Breakup by Trait:

• Physiological
• Behavioral

Breakup by Modality:

• Unimodal
• Multimodal

Breakup by Rack Unit:

• Above 40 RU
• 25-40 RU
• Up to 25 RU

Breakup by Deployment Model:

• Cloud-based
• On-premise

Breakup by Organization Size:

• SMEs
• Large Enterprises

Breakup by Application:

• Site Access Control
• Time Recording
• Mobile Application
• Web and Workplace

Breakup by End User:

• Government
• Healthcare
• BFSI
• IT and ITES
• Manufacturing
• Education
• Others

Breakup by Geography:

• North America (U.S. & Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East & Africa

Key highlights of the report:

• Market Performance (2015-2020)
• Market Outlook (2021- 2026)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. 

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