Unlocking the Future of the Biometrics-As-A-Service Market: Growth Rate, Key Trends, and Opportunities for 2025-2034
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How has the biometrics-as-a-service market grown in recent years?
The market size for biometrics-as-a-service has witnessed substantial expansion over the past few years. Expected to escalate from $3.75 billion in the year 2024 to a value of $4.72 billion in 2025, the compound annual growth rate (CAGR) is projected at 25.8%. The extraordinary growth experienced in the previous period can be traced back to factors such as the surge in digital transformations, increased usage of cloud services, the growing trend of remote work and access, as well as enhanced precision and dependability.
How is the biometrics-as-a-service market size expected to evolve during the forecast period?
There is an anticipated surge in the market size of biometrics-as-a-service in the upcoming years. The market is predicted to expand to a value of $13.47 billion in 2029, with an annual growth rate of 30.0%. The expansion in the projected timeframe is due to a surge in security needs, rise in mobile and iot integration, expansion in healthcare and telemedicine, and infrastructure development. Key trends for this duration include an increased application of mobile biometrics, utilization of cloud-based baas solutions, heightened security for internet transactions, and advancements in technology.
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Which key drivers are propelling the biometrics-as-a-service market’s growth?
The surge in biometrics usage is predicted to fuel the expansion of the biometrics as a service market in the future. Biometrics involves the measurement and statistical evaluation of individuals primarily used to authenticate or validate asserted identities. The escalating demands for improved security, user convenience, and identity confirmation in a variety of sectors, including banking, healthcare, and government services, are driving the increasing adoption of biometrics. Biometrics are employed to authenticate a user’s identity, enabling access to secure physical or digital locations, safeguarding transactions, and performing workforce management-related tasks. For instance, the Information Commissioner’s Office, a government office based in the UK, forecasted in February 2024 that the requirement for biometric recognition would considerably rise in the forthcoming years. Moreover, global market revenues are anticipated to almost double, soaring from $43 billion in 2022 to $83 billion by 2027. Consequently, the escalating adoption of biometrics is propelling the growth of the biometrics as a service market.
What are the market segments in the biometrics-as-a-service industry?
The biometrics-as-a-service market covered in this report is segmented –
1) By Scanner Type: Fingerprint Recognition, Iris Recognition, Palm Recognition, Facial Recognition, Voice Recognition, Other Scanner Types
2) By Modality: Unimodal, Multimodal
3) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
4) By Application: Site Access Control, Time Recording, Mobile Application, Web And Workplace
5) By End-User: Government, Retail, IT (Information Technology) And Telecom, Banking, Financial Services And Insurance (BFSI), Healthcare, Other End-Users
Subsegments:
1) By Fingerprint Recognition: Optical Fingerprint Scanners, Capacitive Fingerprint Scanners, Ultrasonic Fingerprint Scanners
2) By Iris Recognition: Camera-based Iris Scanners, Smartphone Iris Recognition Systems
3) By Palm Recognition: Palm Print Scanners, Palm Vein Recognition Systems
4) By Facial Recognition: 2D Facial Recognition Systems, 3D Facial Recognition Systems
5) By Voice Recognition: Speaker Verification Systems, Voiceprint Recognition Systems
6) By Other Scanner Types: Behavioral Biometrics, Multimodal Biometric Systems
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Which leading companies are shaping the growth of the biometrics-as-a-service market?
Major companies operating in the biometrics-as-a-service market are Accenture PLC, Fujitsu Ltd., NEC Corporation, Thales Group, Leidos Holdings Inc., IDEMIA SA, Nuance Communications Inc., HID Global Corporation, Bytes Technology Group PLC, VoiceIt Technologies LLC, Imprivata Inc., Uniphore Software Systems Private Limited., Suprema Inc., BioEngagable Technologies Pvt Ltd., Aware Inc., Cognitec Systems GmbH, Integrated Biometrics LLC, IRITECH Inc., CERTIFY Global Inc., M2SYS Technology Inc., SecuGen Corporation, Athena Sciences Corporation, ImageWare Systems Inc., Mogimo Inc., Accu -Time Systems Inc., Clearview AI Inc., Biometrics Research Group Inc., Union Community Co Ltd., Skybiometry, Speech Technology Center Limited.
What key trends are currently impacting the biometrics-as-a-service market’s development?
Prominent firms in the biometrics-as-a-service industry are embracing innovative technologies like multimodal biometric authentication to deliver dependable services to their clients and solidify their standing in the market. Multimodal biometric authentication is a method that employs two or more distinct biometric identifiers for improved multi-factor authentication. For example, NEC Corporation, an IT and electronics corporation based in Japan, unveiled Bio-IDiom, a multimodal biometric authentication solution, in November 2022. This unique solution combines both face and iris recognition to offer highly accurate, swift authentication with an extremely low false acceptance rate of less than one in 10 billion. This form of biometric authentication facilitates a shared ID system to accelerate smooth collaboration across multiple services and aids in creating inventive customer experiences and services. The solution ensures precision in data capture by automatically adjusting the camera positions based on the user’s height.
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Which geographic areas are influencing the growth of the biometrics-as-a-service market?
North America was the largest region in the biometrics-as-a-service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in biometrics-as-a-service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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