Adroit Market Research - Industry Insights

Biometrics as a service (BaaS) is a composite whole of diverse benefits extended by the feature of software-as-a-service (SaaS) in the realm of biometrics. IN the coming years, it is likely that Biometrics as a service (BaaS) will be a million-dollar business owing to its large-scale adoption across end-use industries.

BaaS bases biometric application across enterprises is a growing mainstream industrial practice as it allows businesses to accurately foresee and predict the operational expenses of BaaS adoption, which is well mediated by a subscription based model instead of cos

Biometrics as a service (BaaS) is a composite whole of diverse benefits extended by the feature of software-as-a-service (SaaS) in the realm of biometrics. IN the coming years, it is likely that Biometrics as a service (BaaS) will be a million-dollar business owing to its large-scale adoption across end-use industries.

BaaS bases biometric application across enterprises is a growing mainstream industrial practice as it allows businesses to accurately foresee and predict the operational expenses of BaaS adoption, which is well mediated by a subscription based model instead of cost intensive capital expenditure pertaining to inhouse adoption, followed by recurring maintenance expenditure.

Further, BaaS also is a comparatively fast track mechanism with bare minimum expenditure on hardware and software services, thus eliminating substantial risk involvement. BaaS also allows enterprises to continue flexible services and can choose to continue or discontinue the services according to their long-term business objectives.

Based on the aforementioned, adoption of BaaS across large number of businesses irrespective of their dimensions is a growing trend which is likely to be succeeded by exponential growth figures in global biometrics as a service (BaaS) market in the nearing future. Ubiquitous adoption of BaaS as an attractive solution and security enablement feature across enterprises as well as government bodies is crucially determined by its cloud-based structure that ensures complete authenticity, enables data security besides eliminating legacy data silos and human errors.

Authenticity and human errors are thoroughly eliminated in BaaS based operational structure as it is completely based on human pupil, fingerprint, face recognition systems which are unique to every individual. This necessarily doesn't require old methods of PIN-based authentication protocols which run the risk of hacking and data breach.

Countries such as the UK Likely to Influence Large Scale Deployment of BaaS in Border Control Activities

A standard BaaS based identification and authentication system allows users to accurately establish access to biometric cloud infrastructure aided by a biometric identification device which is cloud-enabled. Therefore, BaaS based identification system is independent of time and location status and is easily deployable to obtain real time data access.

Besides healthcare industry adoption of BaaS aligning with EHR transition, biometric as a service is increasingly being deployed in border control on the back of accelerated leisure and business travel. Factors such as increased needs for security and seamless passenger processing needs have bolstered rapid adoption of BaaS in border control activities. Several countries are pioneering large scale deployment of BaaS in border control. In a recent development, following suit as the US and Canada, the UK government is contemplating deployment of biometric based identification and authentication services across borders. The development is closely related to BREXIT and subsequent free movement policy, thus necessitating stringent border rules to control illegal mobility of men and goods alike.

Aware Biometrics to Offer High Tech BaaS Solutions across Banks and Border Control Activities in Latin America

Additionally, in this regard, leading companies in BaaS market are redesigning their business models to comply with soaring industry demands. To remain industry specific, companies are continuing their long standing reliance on M&A expeditions, thus coining lucrative business deals. Recently in biometrics as a service (BaaS) market, market participant Aware Biometrics has been finalized as the provider of advanced BaaS services owing to its robust facial recognition capabilities, improved with its liveness detection feature.

The company is likely to continue its BaaS services across banking and border control needs in Latin America, entitled to offer high tech mobile biometric authentication, thereby eliminating password-based log in practices. Aware's Knomi biometric authentication software is likely to be deployed and integrated with mobile apps and security system where customers can log in with biometric authentication and identification tools. The development is crucial milestone in biometrics as a service (BaaS) market in contemporary times.

Aware biometric software solutions has been a stalwart in mediating diverse functionalities in terms of visitor screening, border management and the like. Since the last decade strides in biometrics adoption necessitates adequate recognition of physical attributes such as face, fingerprints and iris and in recent times even voice to identify a person. BaaS allows biometric matching of individuals to establish access to certain services and solutions. BY the sheer range of advantages, BaaS is amply adopted across small and medium enterprises just in line with large scale adoption across industry conglomerates.

Leading Players such as Idemia Invest Mindfully towards Geographical Expanse Eying Sustainable Foothold

Market participant, Idemia is likely to further expand its BaaS bases services across Egypt, aiming to enhance its geographical expanse and footprint. The company is likely to build new biometrics as a service, solutions in collaboration with Egypt Post in order to develop digital identity services with its novel fingerprint biometrics and ID documents of the citizens. Digital transformation and rampant adoption of diverse services such as AI, digital identity and the like are poised to further unravel novel growth prospects in Egypt, thus facilitating adoption of Biometrics as a service (BaaS) in foreseeable future.

Additionally, companies in BaaS market are also focusing on establishing a favorable stance amidst staggering competition, to achieve which leading players besides investing aggressively in new product and service portfolios are also investing in CSR activities. Echoing the same, leading BaaS market player Redrock Biometrics has recently affirmed its decision to offer advanced biometrics solutions for free for access across all businesses offering essential services. The company is best known for its advanced Biometrics as a service (BaaS) platform, PalmID software that offers high tech authentication services. The development is aligning with the recent pandemic Covid-19 which is wrecking tremendous economic burden across industries worldwide