Biometrics-as-a-Service (BaaS) Market Overview, Growth Trends, Segmentation, Key Players (2024-2031)

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Global Biometrics-as-a-Service (BaaS) Market growing with a CAGR of 19.4% during the forecast period 2024-2031.

Overview

The rising incidence of terrorist activities and the growing theft of critical data are expected to drive global demand for biometrics at a rapid pace, heightening concerns about national security. Additionally, the increasing use of mobile devices, government data security regulations, and the need for effective fraud detection and prevention solutions are the primary factors fueling the adoption of biometrics as a service in the healthcare market.

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Market Growth Trends

Growing Integrating of Biometrics with Cloud

Integrating biometrics with the cloud, which has become a key focus for suppliers, enables cloud-enhanced capabilities to be seamlessly incorporated into a service provider's entire biometrics infrastructure. For instance, in July 2019, Sky Biometry updated its cloud-based face detection and recognition algorithm, introducing significant improvements that enhanced accuracy and enabled the detection of a wider range of facial features.

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Market is Segmented

v  By Modality:  Unimodal, Multimodal

v  By Technology:  Fingerprint Recognition, Voice Recognition, Signature Recognition, Iris Recognition, Palm/Hand Recognition, Face Recognition, Behavior Recognition, Others

v  By Enterprise Size:  Small & Medium Sized Enterprises, Large Enterprises

v  By Deployment Mode:  On-Premise, Cloud-based

v  By End-User:  Retail, Healthcare, and Life Sciences, BFSI, Telecom, and IT, Defense, Government, Others

v  by Region:  North America, Latin America, Europe, Asia Pacific, Middle East, and Africa

Market Key Players

v  Accenture PLC

v  Aware Inc.

v  BioEnable Technologies Pvt. Ltd

v  BioID Technology

v  Fujitsu Limited

v  Nuance Communications Inc.

v  Precise Biometrics AB

v  SIC Biometrics, Inc.

v  NEC Corp.

v  ImageWare Systems Inc.

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