Biometric-as-a-Service Market Forecast Report | Global Analysis, Demand, Revenue by 2027

The global Biometric-as-a-Service (BaaS) market size is expected to reach USD 6.41 Billion in 2028 and register a steady CAGR of 19.8%, according to latest analysis by Emergen Research. Key factors driving market revenue growth include advancements in technology coupled with rising demand for Biometric-as-a-Service (BaaS) technology in automotive, commercial centers, defense & security and consumer electronics applications, among others.

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Competitive Landscape:

The research report offers key insights into the leading market players’ strengths and weaknesses, assessed using Porter’s Five Forces and SWOT analyses. The report includes Biometric-as-a-Service market segmentation based on product type, application spectrum, and key regions. The investigative study estimates the market size, market share, and revenue generation over the forecast timeframe. The key players profiled in the report include:

Key players in the market include Fujitsu, Thales, Lexis Nexis, Idemia, Microsoft, Google, Accenture, Fingerprints, Amazon, and Bayometric.

Some Key Highlights From the Report

· In May 2020, Innovatrics and Daltrey, which is an ID access management company, partnered to develop Biometric-as-a-Service solution for frictionless authentication with passive liveness detection. Most current biometric facial recognition benchmarks show Innovatrics technology is among the fastest in identifying people from large data sets.

· The retail segment accounted for largest revenue share in 2020 due to rising preference for access control of employees, which allows retailers to curb theft of inventory on-premise. The technology is also being explored for promotional and advertising targeting purposes. In March 2021, Piestro, which is a pizzeria-maker, partnered with PopID for safer, easier, and faster biometrics-based solutions for pizza lovers. The partnership will enable on-site contactless ordering and payment as well as use of PopID-compatible machines to view menus, place orders, and complete payments using the same screen.

· Biometric-as-a-Service market revenue in Asia Pacific is expected to increase at the fastest growth rate during the forecast period owing to rapid urbanization and digitalization and growth in sectors such as IT and Telecom, BFSI, and retail. The region has become a point of attraction for numerous multinational companies looking to expand their business, expand customer base, and drive revenues.

The report categorizes the market into different key segments based on types and applications, along with key regional segmentation. The report offers insights into the segment expected to garner traction during the forecast period, and the region expected to dominate the market in the coming years.

· Offering Outlook (Revenue, USD Billion; 2018–2028)

o Solutions

o Services

· Type Outlook (Revenue, USD Billion; 2018–2028)

o Face Recognition

o Fingerprint Recognition

o Voice Recognition

o Iris Recognition

o Palm and Vein Recognition

o Others (DNA, Signature, Keystroke)

· Organization Size Outlook (Revenue, USD Billion; 2018–2028)

o Small and Medium Enterprises

o Large Enterprises

· Vertical Outlook (Revenue, USD Billion; 2018–2028)

o BFSI

o Education

o Government (Public Administration)

o IT and ITES

o Healthcare

o Manufacturing

o Others

1. Entertainment

2. Transportation

3. Energy and Utilities

4. Retail

5. Telecommunication

6. Other Professional Services

Regional Analysis:

The global Biometric-as-a-Service market report broadly considers the market mechanism of both the developing and developed regions of the market. This section provides crucial data and information about the different market regions, a country-wise analysis of the Biometric-as-a-Service industry, and an assessment of the market reach and consumer base in the key geographical regions to enable readers to formulate effective business expansion strategies.

Major Geographies Encompassed in the Report:

· North America (U.S., Canada)

· Europe (U.K., Italy, Germany, France, Rest of EU)

· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

· Latin America (Chile, Brazil, Argentina, Rest of Latin America)

· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Objectives of the Global Biometric-as-a-Service Market Study:

· An in-depth study of the evolving market sectors and the growth & penetration status of the global Biometric-as-a-Service market

· COVID-19 Impact Analysis to highlight the major opportunities and challenges

· Strategic recommendations to help readers formulate lucrative business strategies

· Identification of the emerging players and their tactical approaches to expand market presence

· An extensive study of the product portfolios of the major market players and their regional presence

· A closer look at the strategic initiatives undertaken by the leading companies across this industry, including mergers & acquisitions, collaborations, partnerships, and joint ventures

Table of Content:

Chapter 1. Methodology & Sources 1.1. Market Definition 1.2. Research Scope 1.3. Methodology 1.4. Research Sources 1.4.1. Primary 1.4.2. Secondary 1.4.3. Paid Sources 1.5. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2020-2028 Chapter 3. Key Insights Chapter 4. Biometric-as-a-Service Market Segmentation & Impact Analysis 4.1. Biometric-as-a-Service Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.2.1. Growing usage of mobile devices 4.2.2.2. High security threats 4.2.2.3. Increasing demand for cost-effective solutions to access advanced biometrics capabilities 4.2.3. Market restraints analysis 4.2.3.1. Security of biometric data stored on the cloud 4.3. Technological Insights 4.4. Regulatory Framework 4.5. Porter’s Five Forces Analysis 4.6. Competitive Metric Space Analysis 4.7. Price trend Analysis 4.8. Covid-19 Impact Analysis

Chapter 5. Biometric-as-a-Service Market By Offering Insights & Trends, Revenue (USD Billion) 5.1. Offering Dynamics & Market Share, 2021 & 2028 5.1.1. Solutions 5.1.2. Services

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