Biometrics as a Service in Healthcare Market is valued at approximately USD 569.1 million in 2021 and is anticipated to grow with a healthy growth rate of more than 17.6% over the forecast period 2022-2029. Biometrics is an identifying method that uses physical characteristics like fingerprints, faces, iris, voices, and palm veins to identify people. In the healthcare sector, biometric recognition is used to prevent financial losses brought on by medical identity fraud.
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The growing integration of blockchain, increasing usage of mobile devices, coupled with the rising need for effective fraud detection & prevention solutions in the healthcare sector are the primary factors that are propelling the market growth across the globe.
The rising proliferation of artificial intelligence (AI) across the healthcare sector is presenting various growth prospects to the market. According to the Statista analysis, the global market for artificial intelligence (AI) in healthcare was projected to be worth approximately USD 11.06 billion in 2021. Additionally, it is anticipated that the market expands and reach USD 187.95 by 2030. Therefore, the rising adoption of AI in healthcare helps in integrating their operations and services with cloud technology, along with also modify these services as per their convenience. Moreover, the rising technological developments, as well as the increase in government investments in biometric initiatives are presenting various lucrative opportunities over the forecasting years. However, privacy and security concerns regarding the biometric data stored on the cloud and the high initial investments are hampering the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Biometrics as a Service in Healthcare Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the growth of healthcare industry, rising implementation of biometrics in different sectors, and the rapid development in online transactions. Whereas, the Asia Pacific is also expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing government expenditure on security, and rise in government investments in biometric initiatives such as national ID cards and e-passports in the market space.
Major market players included in this report are:
Thales Group
Fujitsu Limited
Aware, Inc.
BIO-key International
MorphoTrust USA
NextGate, Imprivata, Inc.
Suprema
Imageware
M2SYS Technology
Imprivata, Inc
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Recent Developments in the Market:
In September 2018, ARA (Afya Research Africa)- a Kenyan healthcare provider, declared the company have started using fingerprint biometrics by Integrated Biometrics to recognize the provision of medical care to people in regions without technological infrastructure while maintaining their privacy.
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Application, Scanner Type, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Unimodal
Multimodal
By Application:
Site Access Control
Time Recording
Mobile Application
Web and Workplace
By Scanner Type:
Fingerprint Recognition
Iris Recognition
Palm Recognition
Facial Recognition
Voice Recognition
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Market Overview:
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- This section may also include information on market segmentation, such as by product type, application, or geography.
Industry Trends and Drivers:
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Market Analysis:
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Market Segmentation:
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Market Size and Forecast:
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Competitive Analysis:
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Market Opportunities and Challenges:
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- It may also address barriers to entry, regulatory hurdles, or competitive threats.
Consumer Insights:
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Future Outlook and Recommendations:
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Appendix:
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