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(Wireless-NewsWire.Com, October 25, 2018 ) The Global Biometrics as a Service Market was valued at USD 698 million in 2016 and is projected to reach USD 6,909.81 million by 2025, growing at a CAGR of 29.01% from 2017 to 2025.
Biometrics is a security system, used for the identification of the employees by examination of an individual’s behavioral or physical characteristics. Biometrics is used as a replacement of the traditional security and identification methods such as ID card or pin systems. A biometric system uses biological data and transfers it into digital data which is then used for identification. The advantages of biometric systems include the requirement of the presence of the individual for access, rather than other forms of identification which can be misused by being stolen or forged, quick integration and deployment, good security, and easy implementation.
As there is an emergence of mobile cloud-based biometrics there is a growing need for cost-effective advanced biometric solutions. These high adoption of multimodal biometrics are driving factors for biometrics as a service market size to grow. The security and storage issues with biometrics over cloud lead to high vulnerability of the biometrics system. This leads to security concerns which overall restrain the market growth for biometrics as a service.
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Competitive Landscape:
The major players in the market are as follows:
Fulcrum Biometrics
Fujitsu
Idemia
Leidos
Aware, Inc.
M2sys
Accenture
Iritech
Bioid
Smilepass
Hypr
Certibio
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