Biometrics is the technical term that measures human characteristics with the help of facial, iris, fingerprint, and other types of authentication methods. The growing security concerns and rising cyber-attacks are the crucial factors driving the demand for enhanced security solutions and services. Also, features such as, easy to use, permanent, easy to measure, and improved information security systems are boosting the demand for biometrics as a service solution. The global biometrics-as-a-service market size is expected to reach over USD 3,000 million by 2025. This can be attributed to the growing number of cyber-attacks and the increasing complex IoT landscape globally.
However, privacy concerns and security issues about the data stored on the cloud are expected to hinder the market growth.
The size of the global market for Biometrics-as-a-Service (BaaS) is expected to reach $10.40 billion by 2030, expanding at a compound annual growth rate (CAGR) of 16.2 a%.
.jpg "The Global Biometrics As A Service Baas Market 2020-2030 (USD Billion)")
Furthermore, the growing adoption of cloud-based biometrics among SMEs is anticipated to provide growth opportunities for the market. Also, the integration of advance technologies such as AI and ML in the biometrics-as-a-service solutions is anticipated to be opportunistic for the industry during the forecast period.
Biometrics-as-a-Service (BaaS) Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | $ 10.40 billion |
| Growth Rate | CAGR of 16.2 % during 2020-2030 |
| Segment Covered | By Type, Enterprise Size, End User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Accenture PLC, Aware Inc., BioEnable Technologies Pvt. Ltd, BioID Technology, Certibio, Fingerprint Cards Ab, Fujitsu Limited, Fulcrum Biometrics, LLC, HYPR Corp., IDEMIA France SAS, ImageWare Systems Inc., IriTech Inc., Leidos Holdings Inc., M2SYS Technology, Mobbeel Solutions S.L.L., MorphoTrust USA, NEC Corp., Nuance Communications Inc., Phonexia SRO, Precise Biometrics AB, Secur-eye, SIC Biometrics, Inc., SmilePass Ltd. |
Key Segment Of The Biometrics-as-a-Service (BaaS) Market
Based on Offering (USD Billion)
• Solutions
• Service
Based on Modality, (USD Billion)
• Unimodal BaaS
• Multimodal Baas
Based on Technology, (USD Billion)
• Fingerprint Recognition
• Voice Recognition
• Signature Recognition
• Iris Recognition
• Palm/Hand Recognition
• Face Recognition
• Behavior Recognition
• Other Technologies
Based on Enterprise Size, (USD Billion)
• SMEs
• Large Enterprises
Based on Deployment Mode, (USD Billion)
• On-Premise BaaS
• On-Cloud BaaS
Based on End User, (USD Billion)
• Government
• Travel
• BFSI
• Healthcare
• E-commerce & Retail
• Defense
• IT & Telecommunication
• Other End-Users
Regional Overview, (USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
the biometrics as a service baas market is growing at a CAGR of 16.2% during the forecast period.
The Global biometrics as a service baas Market is Segmented on the basis of By Type, Enterprise Size, End User, Regions
Asia-Pacific dominated the market for biometrics as a service baas market and accounted for the largest revenue share
The biometrics solutions are gaining huge traction recently and the market is already moving towards its maturity. The wide adoption of authentication technology across industrial premises, corporate offices, and government and public sectors is the key factor boosting the growth of biometrics as service solutions and services globally. The growing concerns related to the safety of data, records, and systems are primarily driving the demand for biometrics solutions across several industries such as government and defense, banking, healthcare, retail, and others. Moreover, the growing demand for cost-effective security solutions is also expected to provide major growth opportunities for the market in the forthcoming years.
Component Segment
Based on the component segment, the market is bifurcated into solutions and services. In 2019, the solutions segment gathered the highest market revenue and it is anticipated to govern the biometrics-as-a-service market throughout the forecast period. However, the service industry is anticipated to gather the highest CAGR throughout the forecast period.
Modality Segment
In terms of modality, the market is segmented into unimodal biometrics and multi-modal biometrics. The multi-modal biometrics solutions segment is anticipated to gather the highest market growth during the forecast period. The growth of this segment is mainly attributed to the increasing demand from big organizations that due to its reliable and high-security feature. On the contrary, the unimodal solutions segment dominated the market in 2019 and it is expected to hold the position throughout the forecast period.
Industry Vertical Segment
Based on industry vertical, the market is bifurcated into IT & telecom, retail and e-commerce, BFSI, healthcare, government & defense, and others. The healthcare industry is projected to accumulate the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the increasing need to provide secure access to patient’s health information.
Asia-Pacific region is expected to hold the highest CAGR during the forecast period 2020–2025. The growth of this region is mainly accredited to growing investments by numerous governments in biometric projects. Also, growing smart city initiatives in countries such as China, India, and others is expected to create demand biometric solutions and services. Moreover, North America dominated the Biometrics-as-a-service market during the forecast period due to the growing cyber-attacks in this region. Also, increased spending by various organizations and companies to enhance IT security is also the major factor fuelling the market growth in this region.
-Market,-2018-2025-(USD-million).png "North America Biometrics-as-a-Service (BaaS) Market, 2018-2025 (USD million)")
The major players of the global Biometrics-as-a-service market are Accenture, BioID, Fujitsu, Leidos Holding, IDEMIA, NEC Corporation, M2SYS Technology, Fulcrum Biometrics, Iritech, and Imageware Systems Incorporated. Moreover, the other potential players in the biometrics-as-a-service market are Phonexia, Smilepass, M2SYS, and Certibio. The recognized companies are coming up with innovative and new entertainment technologies and solutions. For instance, in May 2019, BioID and TESIS SYSware collaborated to integrate BioID Web Service (BWS) into TESIS SYSware’s ASPR automated password recovery tool. With this collaboration, TESIS SYSware now provides liveness detection along with facial recognition.