The Biometrics as a Service market was valued at US$1.160 billion in 2017 and is expected to grow at a CAGR of 30.25% over the forecast period to reach a total market size of US$5.665 billion by 2023. Rising incidence of frauds resulting from identity theft has been steering enterprises towards more secure access and identity management solutions. As a result, various biometric solutions have been gaining popularity among the end-users across the globe. Although these solutions have been witnessing significant adoption among enterprises, their adoption among enterprises with very tight budgets is still limited. This can be seen as one of the factors driving the popularity of biometrics as a service across enterprises. Availability of a good number of vendors offering reliable biometric capabilities over cloud is increasing their adoption among the end-users who seek to control their costs without compromising on security. Favorable initiatives from the governments are further increasing the adoption of biometrics as a service, thus boosting the growth of the market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Biometrics as a Service value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Biometrics as a Service market.
Major industry players profiled as part of the report are Fujitsu, Bayometric, Karalundi, SmilePass, Zolon Tech Inc., Tascent and BioID.
The Biometrics as a Service market is segmented by modality type, deployment model, enterprise size, end-user industry and geography.
By Modality Type
By Deployment Model
By Enterprise Size
By End-User Industry
Communication and Technology
Travel and Tourism
Middle East and Africa