This market research report includes a detailed segmentation of the global biometrics as a service market by end-user (enterprises and government organizations). It outlines the market shares for regions such as the Americas, EMEA, and APAC. The key vendors analyzed in this report are BioID, Fujitsu, ImageWare, and IriTech.
Technavio’s market research analysts estimate the global biometrics as-a-service market, to grow at a CAGR of 17% between 2016 and 2020. The demand for cloud solutions in biometrics is one the rise especially for time and attendance authentication, so as to track the mobile workforce. The emergence of IoT (internet of things), which requires remote access control systems for authentication is propelling the demand for biometrics. The Americas occupy 44% of the overall market share, where most organizations are shifting towards cloud-based biometrics authentication services due to rising fraudulent activities.
The new market research report from Technavio provides a breakdown and analysis of the biometrics as-a-service segments by technology.
“The growing implementation of BYOD policy among enterprises has necessitated the need for cloud-based mobile biometrics. Enterprises such as Samsung are hiring third-party service providers to manage biometrics data in the cloud. The application of cloud-based mobile biometrics is spreading across several sectors including retail, commercial, healthcare and defense. Homeowners are also adopting cloud-based mobile biometrics, owing to the growing concerns for residential security,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research
Enterprises accounted for the highest market share with over 90% of the market, where a major share of the revenues comes from the SME segment. Enterprises in sectors such as BFSI, healthcare, retail, utilities, and transportation are shifting toward biometrics as a service solutions provided by vendors such as ImageWare Systems. There is low awareness among government users, which is leading to the low adoption rate.
The leading vendors in the global biometrics as-a-service market include BioID, Fujitsu, ImageWare, and IriTech. It is a niche market with the presence of very few vendors. The vendors in the market compete on the basis of price, innovation, service, reputation, distribution, and promotion. As the market is still in its development stage, smaller vendors developing innovative solutions have the chances of getting acquired by larger players in the market.
A more detailed analysis is available in the Technavio report, Global Biometrics as-a-service Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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