Overview of the Global Biometric-as-a-Service (BaaS) Market: Key Statistics and Trends:
According to the latest report by MarkNtel Advisors, titled “Global Biometric-as-a-Service (BaaS) Market By Component (solutions, Services), By Type of Biometric (Face Recognition, Fingerprint Recognition, Voice Recognition, Iris Recognition, Palm and Vein Recognition, Others), By EndUsers (Banking and Financial Services, Government, IT/ITES, Healthcare, Manufacturing, Energy & Utilities, Retail, Others), By Trait (Physiological, Behavioral), By Organization Size (Small & Medium Enterprises, Large Enterprises), 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. The report provides a thorough analysis of the market, covering competitor dynamics, regional insights, and a detailed breakdown of industry segments.
Global Biometric-as-a-Service (BaaS) Market Growth and Scope:
Base Year: 2021
Forecast Period: 2022-27
Historical Data: 2017-20
CAGR (2022-2027): 19.78%
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Possible Growth Restraint: Increasing Security & Privacy Concerns Due to Data Theft Incidences
Service providers need to be careful regarding the biometric authentication methods they use in order to prevent violations of customers’ privacy or exposure of their personal information since this information could be stolen or lost if the cloud isn’t well-secured. Due to these reasons, consumers & enterprise organizations hesitate while adopting BaaS solutions.
According to Varonis, a US-based data security & insider threat detection company, around 10 million identities have got stolen since 2013, and nearly 64% of them occurred in the United States. Hence, increasing concerns over the security of biometric data stored in the cloud might challenge the Biometric as a Service Market growth during 2022-27.
A Comprehensive Analysis of Leading Companies of Biometric-as-a-Service (BaaS) Market by MarkNtel Advisors:
- Thales Group (Gemalto N.V.)
- 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
- Others
Key Biometric-as-a-Service (BaaS) Market Segmentation:
Explore Our Comprehensive Study: https://www.marknteladvisors.com/research-library/biometric-as-a-service-market.html
-By Component
- Services
- Solutions
Of them all, the Services segment is expected to gain significant momentum in the Global Biometric as a Service (BaaS) Market during 2022-27.
-By Trait
- Physiological
- Behavioral
Of them all, the Behavioral segment is expected to acquire a considerable market share during 2022-27, owing to the burgeoning demand for digitally integrated technologies across a variety of industries, such as banking, government, manufacturing units, etc.,
-By End Users
- Banking and Financial Services
- Government
- IT/ITES
- Healthcare
- Manufacturing
- Energy & Utilities
- Retail
- Others (Transport, Entertainment, etc.)
-By Organization Size
- Small & Medium Enterprises
- Large Enterprises
Geographical Analysis
-By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
North America is expecting to portray a noticeable growth in the Biometric as a Service (BaaS) Market during 2022-27.
key Reports 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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Key Advantages of the Report by MarkNtel Advisors:
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- Comprehensive Market Dynamics Analysis: The report offers valuable insights into the key drivers, restraints, challenges, and opportunities within the market, helping stakeholders make well-informed decisions.
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