Global Biometric-as-a-Service (BaaS) Market Comprehensive Analysis and Forecast 2022 to 2027

Global Biometric-as-a-Service (BaaS) Market Overview: 2022-2027
Base Year: 2021
Historical Years: 2017-20
Forecast Years: 2022-2027
The Global Biometric-as-a-Service (BaaS) Market is projected to grow at a CAGR of around 19.78% during the forecast period, i.e., 2022-27. The Global Biometric-as-a-Service (BaaS) Market is going through significant growth due to multiple drivers like technological advancements and, of course, increasing healthcare needs. The increase in road accidents throughout the country creates a greater demand for X-rays.
Markntel Advisor’s Global Biometric-as-a-Service (BaaS) Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, Global Biometric-as-a-Service (BaaS) Market drivers, barriers, Global Biometric-as-a-Service (BaaS) Market Trends, and Key Players in Global Biometric-as-a-Service (BaaS) Market.
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Global Biometric-as-a-Service (BaaS) Market Dynamics: 2022-2027
Possible Growth Restraint: Increasing Security & Privacy Concerns Due to Data Theft Incidences
Service providers need to be careful regarding the biometric authentication methods they use in order to prevent violations of customers' privacy or exposure of their personal information since this information could be stolen or lost if the cloud isn’t well-secured. Due to these reasons, consumers & enterprise organizations hesitate while adopting BaaS solutions.
According to Varonis, a US-based data security & insider threat detection company, around 10 million identities have got stolen since 2013, and nearly 64% of them occurred in the United States. Hence, increasing concerns over the security of biometric data stored in the cloud might challenge the Biometric as a Service Market growth during 2022-27..
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Global Biometric-as-a-Service (BaaS) Market (2022-30): Segmentation Outlook
The market report has segmented the market into the following categories:
By Component
-Solutions
-Services
By End Users
-Banking and Financial Services
-Government
-IT/ITES
-Healthcare
-Manufacturing
-Energy & Utilities
-Retail
-Others (Transport, Entertainment, etc.)
By Trait
-Physiological
-Face Recognition
-Fingerprint Recognition
-Iris Recognition
-Palm and Vein Recognition
-Others
Behavioral
-Voice Recognition
-Signature Recognition
-Others
By Organization Size
-Small & Medium Enterprises
-Large Enterprises
By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia Pacific.
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Top Companies Operating in the Global Biometric-as-a-Service (BaaS) Market:
Thales Biometrics, Leidos Holdings, Inc., Fujitsu Ltd., NEC Corporation, BioEngagable Technologies Pvt. Ltd., ImageWare Systems, Inc., M2SYS Technology - KernellÓ Inc., Mobbeel Solutions, S.L.L., Aware, Inc., IDEMIA France SAS, Clearview AI, Inc., Bayometric, Amazon Inc, Microsoft Corporation, & CERTIBIO.
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