Press Release: April 16, 2020
Traditional identification and security practices include ID cards, access cards, pins, passwords, paper logs and registers. These practices are either possession based, or knowledge based and not so efficient. Biometrics are based on inherent factors like fingerprint, face recognition, eye scanner etc. and biometric tools can be efficiently used to recognize these factors for identification and security purposes. Also, biometrics being inherent based factor, eliminates the possibility to forget or share passwords and loss or theft of access, ID cards. Modern biometric systems have an ability to connect to networks and information system, which brings an opportunity of Biometric as a Service. Biometric as a service offers various advantages such as affordability, scalability, security, quick integration and deployment, easy implementation. It enables business to automating business process, increase accountability and eliminates paper log, registers which can save money.
On-premises biometric systems require specialized IT infrastructures, like servers and networking. This infrastructure is not only expensive, but also troublesome to maintain. Biometrics-as-a-Service doesn’t require any specialized IT infrastructure or maintenance for the deployment of the biometric project. Biometric as a service encourages pay for use business model, which also let the small and medium scale business for its adoption. Also, now-a-days business are focusing more towards improving customer experience and provide them with enhanced security. For example, Fujitsu has developed empty handed shopping with palm vein authentication. These factors tend to grow the market of global Biometric as a Service. However, giving away of inherent features of a users might create a sense of security among them and can hinder the growth in the market.
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Various notable players operating in the market, include Fujitsu Ltd, Aware, Inc., Bayometric, Inc., Gemalto NV, NEC Corporation, M2SYS Technology – KernellÓ Inc. SmilePass, Hypr Corp., Fulcrum Biometrics, LLC. and BioID
The Global Biometric as a Service market has been segmented based on scan type, application, offerings, modalities and key geographies. Based on scan type, the market comprises of fingerprint, iris, palm, voice, facial and others. Based on application, the market comprises of Financial Services, Healthcare, Defence and Intelligence, Government, Education and Others. Based on offerings, the market comprises of solution and service. Based on modalities the market comprises of unimodal and multi modal. The research report “Global Biometric as a Service market” provides in-depth analysis of global Biometric as a Service market based on scan type, application, offerings, modalities and major geographies for the forecast period from 2019 to 2026. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the global Biometric as a Service market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2019 The competitive landscape section of the report captures and highlights the recent developments in the market.
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Key questions answered in this research report:
1- At what pace is global Biometric as a Service market growing? What will be growth trend in future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Biometric as a Service market?
4- What are the various application areas and how they are poised to grow?
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