Global Biometric Services Platform (BioSP) Market by Type (Face Recognition, Fingerprint Recognition, Iris Recognition, Others), By Application (Citizen ID and Voting Programs, KYC, Fraud Prevention, Territory Management, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global biometric services platform (BioSP) market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The increasing demand for secure and convenient authentication methods is driving the growth of the global BioSP market. The rising adoption of biometric technologies for various applications such as citizen ID and voting programs, KYC, fraud prevention, territory management, and others is also contributing to the growth of this market. However, data privacy concerns may restrain the growth of this market in some regions during the forecast period. On the basis of type, fingerprint recognition held a major share in 2017 and is expected to maintain its dominance during the forecast period. This can be attributed to its high accuracy rate compared with other types of biometric recognition technologies.



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Product Definition:

A biometric services platform (BioSP) is a system that enables the secure and efficient delivery of biometric-based services. BioSPs provide an interface between service providers and consumers, as well as other back-end systems needed to support biometric authentication. They can also provide management capabilities for enrolling and managing users, tracking transactions, and reporting on usage statistics.

Face Recognition:

Face recognition is a biometric technology that analyzes the unique facial features of an individual and enables to compare it with the stored images. The primary use of face recognition is in security applications such as identification of persons for access control or verification purposes. However, this technology has several other uses such as in video surveillance, person authentication for online transactions, and age confirmation for children below 13 years.

Fingerprint Recognition:

The global market for fingerprint recognition and its usage in biometric services platform is expected to witness significant growth over the forecast period. The primary factor driving this growth is increasing demand for security systems across various sectors such as commercial, industrial, and residential.

Application Insights:

The others segment includes signature recognition, hand geometry, iris-based recognition and voice identification. The growing need for authentication of electronic transactions and identity proofing is anticipated to drive the demand for biometric services platform over the forecast period. The rising adoption of these services in e-commerce and other financial institutions is expected to fuel growth over the coming years.

The increasing usage of fingerprint biometric data in mobile payments, banking applications, online shopping portals and e-government programs across various industries has increased the demand for these platforms across regions. Various organizations have been conducting workshops & seminars with regards to digital transformation & innovation along with new project funding initiatives by industry players to educate businesses on potential revenue generating opportunities related to this technology shift (4).

Regional Analysis:

The market in Asia Pacific is expected to grow at a significant rate over the forecast period. The growth can be attributed to various factors such as increasing government initiatives, rising need for security solutions, and rapid technological advancements. For instance, in India, the Unique Identification (UID) project aims at creating a unique identity platform for residents based on their biometric data such as fingerprint and face recognition. Moreover, China has launched its national biometric ID system called Social Security Number (Ssn) that will include facial recognition features along with fingerprints or iris scans for identification purposes.

North America region accounted for more than 20% of revenue share in 2017 owing to high demand from end-use industries coupled with growing adoption of digital services across several sectors including healthcare & life sciences; banking & financial services; public safety & justice; and others.

Growth Factors:

Increasing demand for security and safety measures: The increasing incidences of crime and terror activities have led to the increased demand for security solutions across the world. This is expected to drive the growth of the biometric services platform market in the coming years.
Growing adoption of biometric technology by enterprises: Enterprises are increasingly adopting biometric technology to improve their security measures. This is expected to boost the growth of the biometric services platform market in future.
Rising number of government initiatives for adoption of biometrics: Governments around the world are launching various initiatives for promoting adoption of biometrics among citizens. This is anticipated to fuelthe growthofbiometric servicesplatformmarketin thenearfuture 4 Increased useof mobile devicesforidentificationpurposes:Theuseofmobile devicesforidentificationpurposesisgrowingrapidly,due tobetheirconvenienceandportabilityfactorsthatallowusers touse themanywhereandanytime .Thisisexpectedtogrowthebiometricservicesplatformmarketfurtherinthecomingyears 5 ProliferationoftheInternetofThings(IoT):TheIoTistransformingeveryindustry,includingthesecuritysector,byconnectingdevicesandrelyingonthemtointeractwitheach otherandsendorreceivedata .Thiswillleadtothegrowthofthebiometricservicesplatformmarketin themajorityofthetargetedmarkets


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Scope Of The Report
Report Attributes
Report Details
Report Title
Biometric Services Platform (BioSP) Market Research Report
By Type
Face Recognition, Fingerprint Recognition, Iris Recognition, Others
By Application
Citizen ID and Voting Programs, KYC, Fraud Prevention, Territory Management, Others
By Companies
Sensory, Nok Nok Labs, IDEMIA, Invixium, Fischer International Identity, Identity Automation, Crossmatch, Centrify Corporation, Aware, NEC Corporation, ImageWare Systems
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
144
Number of Tables & Figures
101
Customization Available
Yes, the report can be customized as per your need.

Global Biometric Services Platform (BioSP) Market Report Segments:
The global Biometric Services Platform (BioSP) market is segmented on the basis of:
Types
Face Recognition, Fingerprint Recognition, Iris Recognition, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Citizen ID and Voting Programs, KYC, Fraud Prevention, Territory Management, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Sensory
Nok Nok Labs
IDEMIA
Invixium
Fischer International Identity
Identity Automation
Crossmatch
Centrify Corporation
Aware
NEC Corporation
ImageWare Systems



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Highlights of The Biometric Services Platform (BioSP) Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Face Recognition
Fingerprint Recognition
Iris Recognition
Others
By Application:
Citizen ID and Voting Programs
KYC
Fraud Prevention
Territory Management
Others
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Biometric Services Platform (BioSP) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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