DUBLIN--(BUSINESS WIRE)--The "Biometrics as a Service Market by Modality Type (Unimodal (Fingerprint, Facial, Iris, Voice, Palm and Vein Recognition) and Multimodal), Application, Deployment Model, Organization Size, Industry, and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The Global Biometrics-As-A-Service Market is Expected to Grow from USD 838.0 Million in 2017 to USD 2972.8 Million By 2022, at a CAGR of 28.82%.
There is an increasing need for biometrics solutions for identifying and enrolling citizens for elections and voting purpose. Biometrics-as-a-service offerings provide more accurate identification and are more cost effective compared to traditional identification services. This is one of the major growth drivers for the biometrics-as-a-service market. However, concerns related to storage of biometric data on the cloud may prevent the end-users from adopting these solutions.
Multi-modal biometric authentication incorporates two or more modalities for authentication. Moreover, as they require multiple biometric credentials for positive identification, they are more secure as compared to unimodal solutions. Due to these benefits, multimodal offerings are expected to be deployed widely across various industry verticals.
Financial institutions face an increasing need for reliable authentication techniques to protect against the increasing attacks. Moreover, biometric authentication provides additional security owing to the fact that biometric identifiers are virtually impossible to replicate and cannot be shared. Thus, the biometric-as-a-service offerings are gaining momentum for mobile banking, payments, and authentication applications, due to their exclusive ability to provide greater security in comparison to other traditional authentication methods.
North America is estimated to have the largest market in 2017, whereas Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview And Industry Trends
6 Biometrics-As-A-Service Market Analysis, By Modality Type
7 Biometrics-As-A-Service Market Analysis, By Application
8 Biometrics-As-A-Service Market Analysis, By Deployment Model
9 Biometrics-As-A-Service Market Analysis, By Organization Size
10 Biometrics-As-A-Service Market Analysis, By Industry
11 Geographic Analysis
12 Company Profiles
- Aware, Inc.
- Fulcrum Biometrics
For more information about this report visit https://www.researchandmarkets.com/research/w2pbvc/biometrics_as_a