DUBLIN--(BUSINESS WIRE)--The "Biometric-as-a-Service Market by Application Area (Government and Defense, Financial Services, Healthcare, Law Enforcement, and Human Resources), Modality (Unimodal & Multimodal), Offering (Solution and Services), & Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global biometric-as-a-service market size is forecasted to grow from USD 1.2 billion in 2019 to USD 2.7 billion by 2024
The major growth drivers for the market include increasing users and data-security initiatives by government, growing usage of mobile devices, and increasing demand for robust fraud detection and prevention systems. However, the low cybersecurity budget of organizations and high installation costs may restrain the market growth.
Healthcare application area to grow at the highest rate during the forecast period
Increasing digital health records and stringent regulatory mandates to manage these records has increased the use of biometrics in the healthcare sector. Additionally, biometrics being increasingly used to monitor the use of prescribed drugs.
A unimodal segment to hold a larger market size during the forecast period
Unimodal solutions are easy to deploy and less complex than multimodal technologies. However, unimodal technologies are more vulnerable to threats, such as spoofing, and are not as reliable as multimodal systems. These systems are therefore deployed in industries where high levels of security and reliability are not required.
Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
Increasing security concerns in India, China, Japan, and Korea have further contributed to the adoption of biometric solutions in these countries. The Indian government launched an initiative toward the unique identification of citizens using biometrics and toward the issuance of Aadhaar numbers and cards.
Key Topics Covered:
1.1 Objectives of the Study
1.3 Years Considered for the Study
1.4 Market Definitions
1.5 Segment Definitions
2 Research Methodology
3 Executive Summary
3.1 Key Trends
3.2 Geographic Insights
3.3 Market Dynamics
4 Biometrics-as-a-Service Market Analysis By Application Area
5 Biometrics-as-a-Service Market Analysis By Modality
6 Biometrics-as-a-Service Market Analysis By Offering
6.2 Solution, By Type
6.3 Solution, By Trait
7 Biometrics-as-a-Service Market Analysis By Region
7.1 North America
7.3 Asia Pacific
7.4 Latin America
7.5 Middle East and Africa
8 Competitive Landscape
8.1 Competitive Leadership Mapping
9 Company Profiles
9.10 HYPR Corp
9.13 Fulcrum Biometrics
For more information about this report visit https://www.researchandmarkets.com/r/38tmxo