Apr 01, 2021
Biometrics Middleware Market Gaining Momentum with Growing Adoption of Biometrics-as-a-Service Model
by Team Fact.MR
Biometrics middleware has come into the limelight in recent years as demand for data security and privacy from digitally-driven businesses is reaching new heights. While biometrics middleware providers continue to tap opportunities created by rapid adoption in diverse end-use sectors, starting from healthcare to FSI, the outbreak of the COVID-19 pandemic threw new challenges to industry players in 2020.
The revised report on ‘biometrics middleware’ published by Fact.MR thoroughly analyzes the global industry trends, demand-supply trajectories, and growth & restraining factors for the forecast period of 2021 to 2031. As stated in the report, the impact of the pandemic is likely to persist for a couple of years more, while the recovery of key end-use sectors such as transportation & utilities, retail, and BFSI, to name a few, is expected to create new avenues for stakeholders in this industry.
Key Takeaways from Market Study
- High requirement in banking, financial services, and insurance (BFSI) sector likely to be witnessed
- Software segment to gain traction in biometrics middleware in terms of product type
- North America remains the largest industry for biometrics middleware, with its focal point being the United States
- Germany to keep leading the world’s second-largest biometrics middleware industry - Europe
- The market in Asia Pacific set to exhibit fastest growth throughout the forecast period
- China, Japan, the United Kingdom, India, and France to remain highly lucrative markets
“With technical and digital advancements gaining prominence, biometrics middleware manufacturers are developing advanced software and service solutions targeted for diverse end-use segments. Additionally, integration of AI in biometrics is creating new avenues for industry players,” says a Fact.MR analyst.
How is Demand from Governments Paving New Paths for Biometrics Middleware Providers?
Growing emphasis on security and safety in various government sectors and institutions such as customs and border protection security, transportation security administration, and others is boosting the sales of biometrics middleware.
For instance, recently, the Transportation Security Administration of the United States brought in new security solutions for optimal safety, such as-
- TSA PreCheck®
- Real ID Checking System
According to a report published by the European Commission (EC), the European Union (EU) customs security sector has adopted various advanced solutions such as Authorized Economic Operator (AEO), Smart and Secure Trade Lanes Pilot (SSTL), and Import Control System 2 (ICS2). These give a glimpse of increasing demand for biometrics middleware in governmental sectors around the globe.
Who is Winning in this Space?
Key players in the biometrics middleware market face cut-throat competition. In order to widen their growth scope, they are developing quality products more frequently.
- Daon Inc. recently launched its new Daon’s Information Security Management System (ISMS), which is certified against the ISO/IEC 27001:2013 international standard for information security management.
- Aware Inc. launched its new BioSP™, Knomi® Mobile Biometric Authentication Platform, Indigo™, and others, during the last 5 years.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the biometrics middleware market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (software and services) and end-use industry (BFSI, governmental sectors, retail, healthcare, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About the ICT Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the ICT team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the Industrial lucidly in 50+ countries for over a decade. The ICT team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – ICT
E-mail: [email protected]