What is Biometric as Service?
Biometric as provider encompasses options and corresponding guide offerings that allow businesses to seamlessly add biometric competencies to their procedures via a SaaS-based model, thereby making procedures such as on boarding and affirmation of identities, handy to manage. The ordinary biometric authentication methods focal point broadly speaking solely on obtaining biometric features as a substitute than facts security. It captures an individual’s biometric facts (fingerprint, palm-vein, IRIS, or facial images) and converts it into templates for storage. Ensuring impervious storage of biometric templates is now not essential however inadequate as the biometric small print transmitted over public networks can effortlessly be copied or extracted via an eavesdropper. Cloud-based biometric identification & authentication appear to be a doubtlessly eye-catching answer for non-public and authorities groups as it presents whole protection and permits ubiquitous biometric authentication techniques to run hastily & securely by using cloud services.
The market study is broken down and major geographies with country level break-up.
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Biometric as Service market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Idemia (France), NEC (Japan), Thales (France), M2SYS (United States), Fujitsu (Japan), Aware (United States), Leidos (United States), Nuance (United States), Certisign (Brazil), HYPR (United States) and BioID (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ayonix (Japan), Phonexia (United States), Lexis Nexis (United States) and Cognitec Systems (Germany).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Biometric as Service market by Type, Application and Region.
On the basis of geography, the market of Biometric as Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Biometrics, the sub-segment i.e. Fingerprints will boost the Biometric as Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry, the sub-segment i.e. IT and Telecom will boost the Biometric as Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering, the sub-segment i.e. Service will boost the Biometric as Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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Market Trend
- Faced With Document Fraud and Identity Theft, Terrorism and Cybercrime, International Regulation Changes, New Biometric Security Solutions Are Being Implemented
Market Drivers
- Growing Use of Biometrics in Consumer Electronics Devices to Provide Seamless Access over Different Applications
- Increasing Number of Government Initiatives to Adopt Biometrics
- Rising Need for Surveillance & Security Owing To Threats of Terrorist Attacks
Opportunities
- Continuous Improvement of Biometric Security Is a Must
- Regulations around Biometric Data Are Tightening
- Using Biometrics in Continuous Authentication Applications Will Gain More Traction
Restraints
- Costs – Significant Investment Needed In Biometrics for Security
- Data Breaches – Biometric Databases Can Still Be Hacked
- Tracking and Data – Biometric Devices Like Facial Recognition Systems Can Limit Privacy for Users
Challenges
- Privacy
- Fear of Harm Resulting From Using the System
- General User Anxiety
Key Target Audience
Biometric as Service Developer, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.