Biometrics-as-a-Service is a centralized biometric database on the internet, which is used for authentication of a person based on a set of recognizable and verifiable data, which is unique and specific to them. The technology is considered widely useful as it lowers cost and helps customers to blend in different modalities to develop best use cases for different organizations and permit rapid integration with existing business intelligence and systems. BaaS has been significantly adopted among different industries, including government, fintech and private companies, owing to its existing features associated with SaaS. Several benefits such as high reliability, cost-efficiency and instant deployment are shifting the attention of different SMEs toward its adoption.
Some of the Major Market Players Are:
Fujitsu Limited,Accenture Plc.,Aware Inc.,Leidos Holdings, Inc.,BioID,M2SYS Technology – Kernell? Inc,Fulcrum Biometrics, LLC,IDEMIA,Imageware Systems Incorporated,Iritech, Inc.
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Increase in the adoption of cloud-based biometrics, supported by numerous factors such as growing cyber-attacks, stringent government regulations for data security and demand for cost-efficient biometrics are the major factors that drive the growth of the market. In addition, growth of IoT landscape and increase in BYOD adoption among enterprises also fuels the growth of the market. However, security and privacy concerns of biometric data stored on cloud hampers the growth of the market. Furthermore, surge in the adoption of cloud-based biometrics among developing economies, due to rise in the cloud industry and integration of advanced technologies, such as artificial intelligence, are anticipated to provide major opportunities for the market.
KEY MARKET SEGMENTS
By Organization Size
– Large Enterprises
– Small and Medium Enterprises
– Unimodal Biometrics
– Multi-Modal Biometrics
By Industry Vertical
– Retail and E-commerce
– Government & Defense
– IT & Telecom
Our Sample Report Accommodate a Brief Introduction of the research report, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology
The reports cover key developments in the Biometrics-as-a-Service Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players.
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