Biometrics-as-a-service is a cloud-based platform that offers enterprises the ability to utilize biometric capabilities by accessing the technology over the internet. Organizations are adopting biometrics-as-a-service to quickly add biometric capabilities to their processes, thereby making it easy to enroll and confirm the identities of customers and employees without the need to build and support the infrastructure in-house. This technology enables organizations across all industries to quickly deploy and start using the biometrics technology in their day-to-day identity management operations which is further seen driving the market.
The global biometrics-as-a-service market is expected to grow from USD 838.0 Million in 2017 to USD 2,972.8 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 28.82%. Biometrics-as-a-service deals with offering capabilities such as biometrics onboarding, duplicate checking, and authentication-as-a-service over the internet, through a cloud based infrastructure. The biometric services capture both physiological and behavioral aspects of human beings, thus providing authentication based on fingerprint, face, iris, voice, and vein, among others. These services are witnessing a rise in demand as they are finding utility in identification and verification applications from industries such as Banking, Financial Services, and Insurance (BFSI), government, and retail.
This report provides detailed insights into the biometrics-as-a-service market, split across various regions, segments, and industries. The market is segmented on the basis of modality types into unimodal and multimodal. The unimodal segment includes fingerprint scanning, facial recognition, iris recognition, voice recognition, palm, and vein recognition, and others (DNA and signature recognition). The applications considered for the market include mobile banking, payments, and authentication; identity proofing and credentialing; law enforcement and border control; civil identity and elections; workforce management; and others (account recovery, de-duplication, and access control). The deployment model for the biometrics-as-a-service market consists of public cloud, private cloud, and hybrid cloud deployments. The market is also segmented on the basis of organization sizes into Small and Medium-sized Enterprises (SMEs) and large enterprises. The large enterprises segment is expected to have the larger market size, due to high demand for scalable infrastructure to secure their facilities. The growing security threats across the globe and the increasing usage of mobile devices are expected to create significant demand for biometrics-as-a-service solutions and fuel the growth of the market.
The report covers all the major aspects of the biometrics-as-a-service market and provides an in-depth analysis across the regions of North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market in North America is expected to have the largest market share, due to the presence of major vendors, and increasing adoption of associated services. The APAC region is expected to provide several opportunities in the market and is projected to grow at the highest CAGR during the forecast period.
However, biometrics-as-a-service stores the biometric data on the cloud and concerns related to the security of this data may act as a restraining factor for the market growth. Various vendors provide biometrics-as-a-service solutions to help enterprises reduce their Capital Expenditure (CAPEX). Aware, Inc. (US) is one of the major vendors that offer biometrics-as-a-service solutions. The company is extensively focused on providing biometric solutions that are cost-effective and secure. Other vendors in the biometrics-as-a-service market include Fujitsu (Japan), BioID (Switzerland), HYPR (US), M2SYS (US), OT-Morpho (France), SUPREMA (South Korea), Leidos (US), CERTIFY GLOBAL (US), ImageWare Systems (US), IriTech (US), SkyBiometry (Lithuania), Polygon Innovation (Portugal), RightPatient (US), VoiceIt Technologies (US), Athena Sciences Corporation (US), SmilePass (UK), BYTES TECHNOLOGY GROUP-Bytes SI (South Africa), SecurAX (India), Accenture (Ireland), Fulcrum Biometrics (US), AimBrain (UK), Certibio (Brazil), VoicePIN.com (Poland), and SpeechPro (US). These market players have adopted various strategies, such as partnerships, collaborations, and expansions, to remain competitive in the market.
Vendors who fall in this category receive high scores for most of the evaluation criteria. They have strong and established product portfolios, and a very strong market presence. They provide mature and reputable biometrics-as-a-service solutions. They also have strong business strategies. Companies such as IDEMIA, Fujitsu, Aware, Inc., Accenture, Leidos, and BioID are included in the visionary leaders category.
Innovators in the MicroQuadrant are the vendors who have demonstrated substantial product innovations as compared to their competitors. They have very focused product portfolios. However, they do not have very strong growth strategies for their overall business. The companies included in the innovators category are HYPR, M2SYS, CERTIFY GLOBAL, ImageWare Systems, IriTech, Polygon Innovation, Athena Sciences Corporation, SmilePass, Fulcrum Biometrics, AimBrain, and Certibio.
They are vendors with niche product offerings who have started to gain a position in the market. They do not have very strong business strategies as compared to the other established vendors. They might be new entrants in the market and require some time before gaining a significant traction. SecurAX, SUPREMA, SpeechPro, VoiceIt, VoicePIN.com, RightPatient, and SkyBiometry are included in the emerging companies category.
Biometric as a Service Quadrant
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- Breadth and Depth of Product Offerings
- Technology Offered
- Others ( DNA, Ear Lobe, Signature and Other Behavioral)
- Product Features and Functionality
- Uni-modal ( Single Biometric Trait )
- Multi-modal ( Multiple Biometric Trait )
- Product Quality and Reliability
- Deployment Mode
- Hybrid Cloud
- Public Cloud
- Private Cloud
- Product Differentiation and Impact on Customer Value
- Accuracy Rate
- Services Offered
- Support Services
- Other Support Services