Biometrics-as-a-Service (BaaS) is an interesting alternative to traditional biometric software models. This technology is used by different types of organizations from government to telecommunication industries. It allows quick deployment and start using biometrics technology in their regular identity management operation. BaaS can also be used for fingerprint scanning and face recognition to register employees and clients. It also helps in preventing fraud and streamlining customer support, without wasting the time and money.
Market Growth Factors
BaaS operates over the internet, and can access biometric software by paying a subscription fee. One of the important benefit of BaaS is that, the organizations can easily add biometrics capabilities to processes. It makes easy to enroll and confirm the identities of customer and employees with the help of fingerprints, and is not necessary to build and support software infrastructure and databases. Because of quick search and faster comparison of fingerprints and faces of employee’s and customer’s, organization can prevent fraud and improve customer service.
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Biometric is split into bio, for biological and metric, for measurement. However, biometrics are biological measurements. It is used to identify the human beings that are under surveillance. Biometric identifiers are unique to each and every individual. Biometric identification can be done through the fingerprints, palm veins, face recognition, DNA, iris recognition etc.
There is increasing need for biometrics solution, as they are essential for identifying and enrolling citizens for elections and voting purpose. Biometrics-as-a-Service provides accurate identification of the individuals, and are more cost effective compared to traditional identification services. This is the major driving factor for the growth of the market. The most restraining factor of the market is, the storage of biometric data on cloud may prevent the users from adopting these solutions. There is a continuously growing demand in Ecommerce, and also there is an increasing adoption of cloud based services. Security and storage concerns are major challenges for the growth of this market.
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The Biometrics as a Service market is segmented on the basis of modality type, application, deployment model, organization size, industry and regions. The modality type consists of unimodal which consists of only one mode, and multimodal which has more than one mode. The applications of this market are mobile banking, payments, workforce management, civil identity and elections and etc. The deployment model is classified under public, private, and hybrid cloud. BaaS is used in small, medium and large size enterprises. It is being used in the industries like Banking, Financial Services, and Insurance (BFSI), government & defense, health care, education, media & entertainment and so on.
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By region the market is bifurcated into north America, Europe, APAC, MEA, Latin America.
The top key players of the Biometrics-as-a-Service market are Fujitsu, Aware, Inc., Accenture, Smilepass, Fulcrum Biometrics, Iritech , Leidos and others
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