Global $2.9 Bn Biometrics as a Service Market to 2022

The global biometrics-as-a-service market is expected to grow from USD 838.0 Million in 2017 to USD 2,972.8 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 28.82%

Biometrics-as-a-service deals with offering capabilities such as biometrics onboarding, duplicate checking, and authentication-as-a-service over the internet, through a cloud based infrastructure. The biometric services capture both physiological and behavioral aspects of human beings, thus providing authentication based on fingerprint, face, iris, voice, and vein, among others. These services are witnessing a rise in demand as they are finding utility in identification and verification applications from industries such as Banking, Financial Services, and Insurance (BFSI), government, and retail.

The report covers all the major aspects of the biometrics-as-a-service market and provides an in-depth analysis across the regions of North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market in North America is expected to have the largest market share, due to the presence of major vendors, and increasing adoption of associated services. The APAC region is expected to provide several opportunities in the biometrics-as-a-service market and is projected to grow at the highest CAGR during the forecast period.

However, biometrics-as-a-service stores the biometric data on the cloud and concerns related to the security of this data may act as a restraining factor for the market growth. Various vendors provide biometrics-as-a-service solutions to help enterprises reduce their Capital Expenditure (CAPEX). Aware, Inc. (US) is one of the major vendors that offer biometrics-as-a-service solutions. The company is extensively focused on providing biometric solutions that are cost-effective and secure.

Market Overview And Industry Trends

Drivers

Restraints

Opportunities

Challenges

Technology Trends And Standards

Innovation Spotlight

Industry Use Cases

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/research/d9v85j/biometrics_as_a

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