Biometric as a Service Market (BaaS) -
Biometrics are biological identity traces of human beings often accessed via thumbs and other parts of human body to register an impression. These biological ‘fingerprints’ serve a wide variety of purposes including identification, verification, security, attendance, time keeping, etc. Government as well as private entities around the world are increasingly using biometrics for applications like access control. Various governments around the world are using it as a mandatory signature in national citizen registers and Ids.
Biometric as a service market is expected to grow significantly as biometrics are far more secure than traditional forms of entry codes like pin, passwords, locks, etc. Individuals are not required to remember biometrics and the information can be carried anywhere easily. Additionally, biometrics are unique identity prints for each individual. Biometrics also leverages computing, imaging, mathematical and statistical methods to map a detailed identity of an individual for high-risk security clearances.
Hence, biometrics as a service can be beneficial for military setups, nuclear reactors, data centers, R&D facilities and more. The secure nature of the service and growing demand for full-proof security, both online and offline is expected to drive the biometric as a service market.
In the near future, biometrics as a market can connect servers around the world with centralised database with a remote server. These databases can connect valuable information systems with the network at the touch of fingertips.
BaaS offers promising opportunities for technology companies around the world. Baas would require little investment for companies to enter a new market. Baas services can also be sold on a subscription basis, which would ensure upfront payments and guaranteed mechanisms of carrying out maintenance. As the setup would be relatively easy, requiring very little software and hardware support; the Baas service market players focus on offering fast and secure services. The Baas service market also promises ‘pay-as-you-grow’ financing model for subscribers. As services under use are easy to track, subscriber loyalty and growing access to the larger database is a priority for Baas service providers.
Biometrics technology is used for identification and authentication of people with the help of their biological and behavioral characteristics. Biometric systems provide the solution to ensure that the rendered services are accessed only by a legitimate user and no one else. They can be defined as a ubiquitous technology that can be used in high definition cameras primarily for facial recognition, and microphones for voice capturing purposes. The specially-designed units that can be customized to scan the vein patterns beneath the skin are also biometric sensors. Some key attributes of biometric sensors include fast verification and identification. Biometric sensors are breakthrough technology, which weed out various security-related issues from different domains.
Technological advancements coupled with rising demand for biometric technology in commercial centers, automotive, consumer electronics, and defense and security among other sectors are offering great opportunities for major players in the biometric sensors market. In today’s technological era, enterprises and consumers alike are rapidly embracing the shift toward a social and mobile era. As more enterprises adopt a faster, more efficient, “on-the-go” business approach, portable mobile devices such as smartphones, tablets, and notebooks are poised to become powerful tools for conducting everyday business transactions for users working in a multi-device and location-independent environment.
Rising demand for fingerprint identification to gain access in smartphones and other smart gadgets has positively impacted the growth of biometric as a service market. Growing demand for biometric sensor based tablets, smartwatches, wearable devices, and other consumer electronic products is one of the major drivers of this market. Convenience of use and comprehensive nature of biometric sensors are among the key drivers for the global Biometric as a service market. Vendors across regions are emphasizing on proving biometric services. Growing preference for stronger systems of security and convenience in terms of application are major factors contributing to the growing popularity of biometric sensors at the global level. Increasing application of biometrics technology in different sectors such as commercial centers, offices, and airports coupled with rising application of finger and facial scan solutions in the security and defense sector are some of the major factors contributing to the growing demand for biometric sensors globally. Moreover, rising demand for fingerprint scanning biometric solutions for payments and banking is having a positive impact on the biometric as a service market. Security of biometric data stored on cloud is the major restraint for the market. Increase in the adoption of cloud services will offer a major opportunity to the biometric as a service market.
The biometric as a service market is segmented based on type, application, deployment type, industry, and region. On the basis of type, the biometric as a service market can be categorized as physiological and behavioral, wherein physiological biometrics includes fingerprint, face recognition, palm vein, and retina and iris recognition. Behavioral biometrics assesses uniquely identifying and measurable patterns of human traits, including characteristics such as voice, gait, and typing rhythms. Based on application, the biometric as a service market can be bifurcated into mobile banking, payments, and authentication, identity proofing and credentialing, law enforcement and border control, civil identity and elections, and workforce management. By deployment type, the biometric as a service market can be classified into cloud and on-premises. In terms of industry, the biometric as a service market is divided into government, banking and finance, consumer electronics, healthcare, defense services, commercial safety and security, home safety and security, transport/ visa/ logistics, and others.
Geographically, the global biometric as a service market is divided into Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific led the market for biometric as a service followed by North America and is expected to maintain its position over the forecast period. Increasing concern about data security and growing prevalence of identity theft is fueling the growth of the market in Asia Pacific. Product development and increasing application of biometric technology in large international airports and commercial centers is fueling the biometric sensors market in North America.
Some of the leading players in the biometric as a service market are Fujitsu, Idemia, Aware, Inc., Leidos, M2sys, IriTech, SmilePass, Certibio, HYPR, Accenture, and Fulcrum Biometrics among others.
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