Market Overview: Biometric-as-a-Service (BaaS) Market FY2022-2027
This reports provides an essential and dependable overview of the Biometric-as-a-Service (BaaS) Market, serving as a guide for stakeholders navigating the industry’s future trajectory. It covers critical aspects, guiding through challenges and opportunities, shedding light on the market landscape, key insights, driving forces, major competitors, regulatory framework, potential growth, ongoing trends, supply chain dynamics, evolving policies, segments and prominent players.
Biometric-as-a-Service (BaaS) Market Report Coverage Details:
- Base Year: 2021
- Historical Data: 2017-20
- Forecast Period: 2022-2027
- CAGR: 19.78% (2022-2027)
The Global Biometric-as-a-Service (BaaS) Market is projected to grow at a CAGR of around 19.78% during the forecast period, i.e., 2022-27.
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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.
Biometric-as-a-Service (BaaS) Market Segmentation Analysis – FY2022-2027
Discover a comprehensive evaluation of every segment and its subdivisions, allowing our clients to gain a deep understanding of the Biometric-as-a-Service (BaaS) Market (2022-2027). We prioritize uncovering the pivotal factors that presently drive and will shape the industry’s growth moving forward. Our goal is to empower our esteemed clients by optimizing their end-user positioning and revenue generation through a thorough analysis of market size, share and all the latest market scope across diverse segmentation categories.
The Biometric-as-a-Service (BaaS) Market segmentation is enlisted below:
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
By Organization Size
- Small & Medium Enterprises
- Large Enterprises
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By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
Biometric-as-a-Service (BaaS) Market Competitive Landscape
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.
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Key Report Highlights
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
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