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Biometric-as-a-Service Market Worth $2.7 Billion by 2024 - Exclusive Report by MarketsandMarkets™
[June 19, 2019]

Biometric-as-a-Service Market Worth $2.7 Billion by 2024 - Exclusive Report by MarketsandMarkets™


CHICAGO, June 19, 2019 /PRNewswire/ -- According to a new market research report "Biometric-as-a-Service Market by Application Area (Government and Defense, Financial Services, Healthcare, Law Enforcement, and Human Resources), Modality (Unimodal and Multimodal), Offering (Solution and Services), and Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Biometric-as-a-Service Market size is expected to grow from USD 1.2 billion in 2019 to USD 2.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 17.0% during the forecast period.

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Increasing users and data-security initiatives by government, growing usage of mobile devices, and increasing demand for robust fraud detection and prevention systems are major growth factors for the market. The growing demand for fast and secure users' identification and regulatory compliances in healthcare to handle patient information with the utmost privacy and proper care would provide opportunities for vendors in the Biometric-as-a-Service Market.

Browse in-depth TOC on "Biometric-as-a-Service Market"

5 – Tables

8 – Figures  

68- Pages     

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https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=59189932 

In the application area, financial services segment to hold the largest market size during the forecast period

Over the past couple of years, this segment has been investing heavily on technology, including biometrics to enhance services, such as seamless onboarding process, transaction authentication, and authentic user-session monitoring.

In modality, multimodal segment to grow at a higher CAGR during the forecast period

Multimodal solutions are more secure as compared to unimodal solutions. Moreover, these systems are more accurate and are less prone to image matching and acquisition errors. Data acquisition errors, such as failure-to-acquire and failure-to-enroll and data-matching errors measured in terms of false match rate are lower in case of multimodal authentication. Consequently, these systems are increasingly being adopted in all the industries and are gaining extensive user acceptance.



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North America to hold the largest market size during the forecast period

As North America, a technologically advanced region, with a high number of early adopters and the presence of major market players is expected to contribute the highest market share, in terms of revenues during the forecast period. Factors such as large-scale funded programs and employee access monitoring in buildings are driving the revenue growth in this region.

Major vendors in the global Biometric-as-a-Service Market include NEC (Japan), Aware (US), Fujitsu (Japan), Nuance (US), Leidos (US), Idemia (France), M2SYS (US), Smilepass (UK), Certibio (Brazil), HYPR (US), BioID (Germany), Accenture (Ireland), Fulcrum Biometrics (US), and Phonexia (US).

Browse Adjacent Markets: Cloud Computing Market Research Reports & Consulting

Related reports:

Behavioral Biometrics Market Component (Software & Services), Application (Identity & Access Management, Risk & Compliance Management, Fraud Detection & Prevention management), Deployment Model, Organization Size, and Vertical - Global forecast to 2023

https://www.marketsandmarkets.com/Market-Reports/behavioral-biometrics-market-64844371.html

Voice Biometrics Market Application (Access Control & Authentication, Fraud Detection & Prevention, Forensic Voice Analysis & Criminal Investigation), Component, Type, Deployment, Organization Size, Industry Vertical, Region - Global Forecast to 2024

https://www.marketsandmarkets.com/Market-Reports/voice-biometrics-market-104503105.html

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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