Biometric-as-a-Service Market

NEC (Japan) and Aware (US) are leading players in Biometric-as-a-Service Market

MarketsandMarkets forecasts the global biometric-as-a-service market size to grow from USD 1.2 billion in 2019 to USD 2.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 17.0% during 2019–2024. Increasing users and data-security initiatives by government, growing usage of mobile devices, and increasing demand for robust fraud detection and prevention systems across the Banking, Financial Services and Insurance (BFSI) industry are bolstering the biometric-as-a-service market growth.

In the last few years, there has been a series of technological innovations that make the biometric technology technically and commercially feasible in the present market scenario. A few prominent technological advancements are the emergence of technologies, such as touchless biometrics and portable biometrics devices. This increasing innovation has led to the present state of the industry, where there are new devices that are being launched in the market at an exponential rate.

Major vendors of biometric-as-a-service include NEC (Japan), Aware (US), Fujitsu (Japan), Nuance (US), Leidos (US), Idemia (France), M2SYS (US), Smilepass (UK), Certibio (Brazil), HYPR (US), BioID (Germany), Accenture (Ireland), Fulcrum Biometrics (US), and Phonexia (US). The key players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global biometric-as-a-service market. They have majorly adopted the strategies of partnerships and new product launches from 2017 to 2019, which have helped them innovate their offerings and broaden their customer base.

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NEC (Japan) is a key technology player in the global biometric-as-a-service market. It has a vast portfolio of solutions and services in the biometric recognition that includes integrated solutions, components, and services for computing and communications applications. The company develops and markets its biometric systems under the solutions and services segment, i.e.,  biometric authentication. Under this segment, the company develops leading biometrics verification engines and advanced image analysis to offer integrated security solutions that fully meet the customers’ demand. The company’s offices are located across the globe in regions, such as APAC, North America, the Middle East, and Europe.

Aware (US) is one of the leading providers of modular software products, including Software Development Kit (SDK) and subsystems that enable fingerprint, face, and iris recognition; and authentication solutions. These products cater critical biometric functionalities for application areas, including law enforcement, border management, defense, intelligence, banking, citizen ID, and payments. The company operates through 4 product groups, namely, mobile biometric authentication framework (Knomi), biometric identification platform (ABIS), biometrics as a service (Indigo), and browser-based enrollment and data management (WebEnroll). The company is providing software and services to the UK government for the implementation of a central biometric services system for applications in law enforcement, border management, and immigration. Aware provides its biometrics-as-a-service solutions through a workforce of 68 employees, and the company has a strong presence in the US and Brazilian markets.

Related Reports:

Biometric-as-a-Service Market by Application Area (Government and Defense, Financial Services, Healthcare, Law Enforcement, and Human Resources), Modality (Unimodal and Multimodal), Offering (Solution and Services), and Region - Global Forecast to 2024

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Report Code
TC 5616
RI Published ON
6/13/2019
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