PUBLISHER: IMARC | PRODUCT CODE: 1467547
PUBLISHER: IMARC | PRODUCT CODE: 1467547
The global biometrics-as-a-service market size reached US$ 1.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.7 Billion by 2032, exhibiting a growth rate (CAGR) of 16.3% during 2024-2032.
Biometrics-as-a-service (BaaS) refers to a cloud-based application that identifies and authenticates individuals using their biological and behavioral characteristics. It is based on biometrics technology that records the user's presence through a highly accurate eye, voice and facial recognition. This enables advanced, enterprise-wide biometric identification, which aids in enhancing the security of the existing organizational infrastructure. In comparison to the traditionally used paper- and pin-based authentication systems, BaaS systems are highly scalable, cost- and time-effective and less prone to fraudulent activities. Modern BaaS solutions can be deployed for site and mobile access control, time recording and web and workspace management.
The growing need for comprehensive authentication systems, along with the increasing adoption of cloud-based services by enterprises across the globe, is one of the key factors creating a positive outlook for the market. Both government and private organizations are adopting advanced BaaS solutions to counter security attacks and identity thefts. Furthermore, widespread adoption of these solutions in the banking, healthcare and retail sectors is providing a boost to the market growth. For instance, banking service providers are offering mobile-based applications for virtual transactions and digital wallets, which are highly sensitive and can only be accessed through advanced authentication systems, such as fingerprint scanning and facial or voice recognition. Additionally, various technological advancements, such as the integration of BaaS with smartphones, tablets and laptops, are acting as other growth-inducing factors. This aids in conducting business transactions through multi-device and location-independent environments. Other factors, including rapid urbanization, coupled with the implementation of favorable government initiatives to enhance national security, are expected to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global biometrics-as-a-service market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, solution type, trait, modality, rack unit, deployment model, organization size, application and end user.
Solutions
Services
Fingerprint Recognition
Face Recognition
Iris Recognition
Voice Recognition
Palm and Vein Recognition
Others
Physiological
Behavioral
Unimodal
Multimodal
Above 40 RU
25-40 RU
Up to 25 RU
Cloud-based
On-premise
SMEs
Large Enterprises
Site Access Control
Time Recording
Mobile Application
Web and Workplace
Government
Healthcare
BFSI
IT and ITES
Manufacturing
Education
Others
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Accenture, Aware Inc., BioID, Fujitsu Limited (Furukawa Group), Imageware Systems Incorporated, IDEMIA France, Iritech Inc., M2SYS Inc., NEC Corporation and Thales Group.