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Demand for Security Solutions in BFSI and Government Sectors Driving Biometrics Middleware Market: Fact.MR
[April 08, 2021]

Demand for Security Solutions in BFSI and Government Sectors Driving Biometrics Middleware Market: Fact.MR


NEW YORK, April 8, 2021 /PRNewswire/ -- The biometrics middleware market has registered a temporary slump in demand through 2020 owing to restrictions on industrial activities and limited applications in commercial establishments due to the unprecedented COVID-19 outbreak. However, potential applications of touchless biometric solutions have helped to partially nullify the effects of the pandemic on the biometric middleware prospects through 2021.

FactMR

The rising use of biometric software solutions in consumer electronic devices for identification and authentication applications, the demand for security and surveillance products for domestic and international threats are important aspects discussed in the biometrics middleware study by consulting firm Fact.MR. The study recalibrates pre-COVID-19 estimates, in terms of broader developments across BFSI, government and healthcare industries.

According to Fact.MR, the biometrics middleware market is estimated to reflect positive growth prospects through 2031, with a decent rate of growth since 2016. Insurance providers and financial services have emerged as major contributors to the global economy, indicating new opportunities for biometric manufacturing companies. These changes in security solutions are anticipated to fuel developments for manufacturers towards flexibility in technology integration and ease of deployment.

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Multi-Application Integration and Modular Interfaces Gain Ground

Modules of biometrics middleware are designed to provide functionality in terms of respective application areas thereby, allowing user access to biometric capture, ID documents, and verification components to external and internal systems.

The base technologies being used in these tools are integrated into middleware with plug-in mechanisms. This is important, as middleware can now integrate optimal technology combinations available in terms of application-wise settings. As a result, biometrics middleware solutions meet individual requirements of the respective applications. The introduction of interchangeable plugins, and the expandability and flexibility of the overall system is sustained.

"Biometric systems are increasingly being considered as more secure and convenient security solutions over conventional alternatives that rely heavily on passwords, smart cards, and more. Biometrics have helped in tackling important security challenges including organized crime, international terrorism, identity theft, and document forgeries. Furthermore, biometric middleware is easy to integrate and do not require high levels of expertise for operations. These biometric industry trends will remain key to long-term developments in the industry," says a Fact.MR analyst.

Key Takeaways from Fact.MR's Biometrics Middleware Study

  • BFSI and healthcare sectors account for major biometric market share owing to applications in data security for electronic records.
  • Software platforms are expected to gain significantimpetus with wide-ranging scope of applications including data & workflow management, and formatting for large-scale systems.
  • China and India are high potential markets driven by the presence of vast manufacturing and ICT development sectors.
  • United States will hold the lead in the biometrics middleware market, supported by a high-value information technology industry.
  • Germany accounts for major share in Europe, driven by digitalization drives among insurance and financial service providers in the country.



Portfolio Expansion Strategies through Collaborations to Gain Traction Amidst Key Players

Prominent biometric system market developers profiled by Fact.MR include Aerendir Mobile Inc., Daon Inc., Fischer International Identity LLC, Aware Inc., Crossmatch Technologies Inc., Precise Biometrics AB, Imageware Systems Inc., Centrify Corporation, and Identity Automation. 


An important aspect of key manufacturers is an expanding product portfolios. For instance, in February 2021, ZTE the China-based consumer electronics manufacturer announced the launch of a new under-display facial recognition system for smartphone applications. 

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Further, in March 2021, Samsung joined hands with Mastercard to launch a new biometric payment card including new security chipsets, for applications at Mastercard payment terminals. Also, NEXT Biometrics has announced the development of a new fingerprint sensor solution in collaboration with Broadcom meeting Microsoft SecureBIO requirements for PC applications.  

More Insights on the Biometrics Middleware Market  

Fact.MR, in its latest offering, provides an unbiased analysis of the global biometrics middleware market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product type (software and services), and end use industry (BFSI, government sectors, retail, healthcare, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa). 

Key Questions Covered in the Report

  • How is the global biometrics middleware market expected to grow in 2021?
  • Why is the demand for biometrics middleware gaining momentum?
  • How is urbanization influencing biometrics middleware sales in the future?
  • What factors are attracting prominent biometrics middleware manufacturers to China?
  • Why is Europe a lucrative hub for key biometrics middleware market players?
  • How do growth prospects appear for the US, UK and French biometrics industry?
  • Which are the prominent biometrics middleware manufacturers profiled in Fact.MR's report?

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Explore Fact.MR's Coverage on the ICT Domain 

Modular Biometric Access Control Terminals Market: A recent study by Fact.MR on the modular biometric access control terminals market offers a 10-year forecast from 2018 to 2028. The study analyzes crucial trends that are currently determining market growth. This biometrics market and industry report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players.  

Biometric Authentication Solution Market: Fact.MR's recent report on the biometrics authentication solution market offers a forecast from 2021 to 2031, highlighting such key aspects as drivers, opportunities and trends prevailing across the aforementioned period. The report provides a detailed analysis of key segments' growth prospects across prominent geographies, along with information on the important stakeholders and manufacturers operating in the landscape. 

Biometric Data Encryption Device Market: A detailed assessment of global biometric data encryption device value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in Fact.MR's elaborate coverage on the landscape. Statistics have been provided for key segments' and their expansion prospects across prominent geographical locations.  

About Fact.MR

Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we'll be an able research partner.

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SOURCE Fact.MR


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