The global Biometric-as-a-Service (BaaS) market size is expected to reach USD 6.41 Billion in 2028 and register a steady CAGR of 19.8%, according to latest analysis by Emergen Research. Key factors driving market revenue growth include advancements in technology coupled with rising demand for Biometric-as-a-Service (BaaS) technology in automotive, commercial centers, defense & security and consumer electronics applications, among others.
Global Biometric-as-a-Service (BaaS) Market has been developing at a rapid rate and is contributing significantly to the global economy in terms of revenue, growth rate, sales, market share, and size. The Global Biometric-as-a-Service (BaaS) Market report is a comprehensive research document that provides valuable insights to the readers to understand the fundamentals of the Biometric-as-a-Service (BaaS) market.
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Some Key Highlights From the Report
Large enterprises segment accounted for a larger revenue share in 2020 owing to rapid deployment of biometric-as-a-service technology as a result of benefits this technology provides. Various BFSI, manufacturing, IT, and healthcare giants have started to deploy BaaS in their respective security infrastructure as necessity for such need arises.
Biometric-as-a-Service market revenue in Asia Pacific is expected to increase at the fastest growth rate during the forecast period owing to rapid urbanization and digitalization and growth in sectors such as IT and Telecom, BFSI, and retail. The region has become a point of attraction for numerous multinational companies looking to expand their business, expand customer base, and drive revenues.
Key players in the market include Fujitsu, Thales, Lexis Nexis, Idemia, Microsoft, Google, Accenture, Fingerprints, Amazon, and Bayometric.
Comprehensive Regional Analysis Covers the Following Regions:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a comprehensive analysis of the competitive landscape of the market through extensive profiling of the key competitors. The section on the competitive analysis covers product portfolio, company overview, production and manufacturing capacity, financial standing, revenue and gross profit margins, and market position. It also sheds light on the mergers and acquisitions, joint ventures, collaborations, and partnerships occurring in the market.
Emergen Research has segmented the global biometric-as-a-service market on the basis of offering, type, organization size, vertical, and region:
- Offering Outlook (Revenue, USD Billion; 2018–2028)
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Face Recognition
- Fingerprint Recognition
- Voice Recognition
- Iris Recognition
- Palm and Vein Recognition
- Others (DNA, Signature, Keystroke)
- Organization Size Outlook (Revenue, USD Billion; 2018–2028)
- Small and Medium Enterprises
- Large Enterprises
- Vertical Outlook (Revenue, USD Billion; 2018–2028)
- Government (Public Administration)
- IT and ITES
- Energy and Utilities
- Other Professional Services
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Key Coverage of the Biometric-as-a-Service (BaaS) Market:
- Insightful information regarding the global Biometric-as-a-Service (BaaS) market
- Identification of growth in various segments and sub-segments of the Biometric-as-a-Service (BaaS) market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations
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