Saturday, 04 December 2021 08:54 GMT

Biometric-as-a-Service Market Insights by Emerging Trends, Growth and Forecast till 2024


(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 25, 2021, 06:19 /Comserve / -- The global biometric-as service market size to grow at a Compound Annual Growth Rate (CAGR) of 17% during the forecast period

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment. 

The global biometric-as service market size to grow at a Compound Annual Growth Rate (CAGR) of 17% during the forecast period
SDKI forecasts the global biometric-as
service market size to grow from USD 1.2 billion in 2019 to USD 2.7 billion by 2024, at a CAGR of 17.0% during 2019–2024. The major growth drivers for the market include increasing users and data-security initiatives by government, growing usage of mobile devices, and increasing demand for robust fraud detection and prevention systems. However, low cybersecurity budget of organizations and high installation costs may restrain the market growth.

Healthcare application area to grow at the highest rate during the forecast period
Increasing digital health records and stringent regulatory mandates to manage these records has increased the use of biometrics in the healthcare sector. Additionally, biometrics being increasingly used to monitor the use of prescribed drugs.

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Service Market Insights by Emerging Trends, Growth and Forecast till 2024

Unimodal segment to hold a larger market size during the forecast period
Unimodal solutions are easy to deploy and less complex than multimodal technologies. However, unimodal technologies are more vulnerable to threats, such as spoofing, and are not as reliable as multimodal systems. These systems are therefore deployed in industries where high levels of security and reliability are not required.

Asia Pacific (APAC) to grow at the highest CAGR during the forecast period Increasing security concerns in India, China, Japan, and Korea have further contributed to the adoption of biometric solutions in these countries. The Indian government launched an initiative toward the unique identification of citizens using biometrics and toward the issuance of Aadhaar numbers and cards.

Fill This Form and get the Sample Copy of This Report: 
The Final Report will cover the impact analysis of COVID-19 on this industry: Biometric-as
Service Market Insights by Emerging Trends, Growth and Forecast till 2024

 By Company: Tier I: 15%, Tier II: 42%, and Tier III: 43%
 By Designation: C-Level: 62%, Director Level: 20%, and Others: 18%
 By Region: North America: 40%, APAC: 30%, Europe: 20%, MEA: 5%, and Latin America: 5%

Research coverage
The report segments the global biometric-as
service market by application area, modality, offering, and region. The application area segment comprises government and defense, financial services, healthcare, law enforcement, human resources, and others (travel and hospitality, academia and research, and secured enterprises/institutions). The modality segment comprises unimodal and multimodal. The biometric-as service market by offering has solution and services. The report covers the biometric-as service market with respect to 5 major regions, namely, North America, Europe, APAC, Latin America, and the Middle East and Africa (MEA).

The report would help the market leaders and new entrants in the global biometric-as service market in the following ways:
1. The report segments the market into various subsegments. Hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across applications and regions.
2. It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
3. It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.

TABLE OF CONTENTS

1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 STAKEHOLDERS
1.3 YEARS CONSIDERED FOR THE STUDY
1.4 MARKET DEFINITIONS
1.5 SEGMENT DEFINITIONS
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 KEY TRENDS
3.2 GEOGRAPHIC INSIGHTS
3.3 MARKET DYNAMICS

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.


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