Covina, Aug. 13, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the global biometrics as a service in healthcare market size and share is projected to grow from USD 862.66 Million in 2024 and is forecasted to reach USD 3666.41 Million by 2034, exhibiting a compound annual growth rate (CAGR) of 17.2% during the forecast period (2024 - 2034).
Biometrics As a Service in Healthcare Market Report Overview
Biometrics As a Service in Healthcare represents a transformative approach to security, identification, and data management within the healthcare industry. Traditionally, healthcare organizations have relied on passwords and identification cards for secure access but these methods are increasingly vulnerable to breaches. Biometrics offers a higher level of security by using unique biological traits that are difficult to replicate or steal.
Biometrics as a service in healthcare is a viable way to boost security better patient experiences and faster processes establishing it as a crucial element in the digital revolution of the healthcare sector.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of Market
Competitive Landscape:
Biometrics As a Service in Healthcare Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Fujitsu
- NEC CORPORATION
- Suprema
- Thales
- Aware, Inc.
- BIO-key International
- Cognitec Systems GmbH
- Daon, Inc.
- M2SYS Technology
- Cogent Systems
- Assa Abloy
- Precise Biometrics
- ZKTeco
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Analyst View:
As the healthcare industry undergoes digital transformation, the demand for robust security measures to protect sensitive patient information has become paramount. The shift towards cloud-based solutions in healthcare is another critical factor driving the adoption of biometrics as a service. Healthcare providers increasingly seek scalable and flexible solutions that can be easily integrated into their existing systems.
Market Dynamics:
Drivers:
Regulatory Compliance and Data Security
- One of the primary drivers of Biometrics as a Service (BaaS) in Healthcare market is the need for stringent regulatory compliance and enhanced data security. Biometrics offers a highly secure method of verifying identities and accessing sensitive data, making it a critical tool for ensuring compliance with these regulations.
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Market Trends:
Integration of Cloud-Based Solutions
- A significant trend in the target market is the growing integration of cloud-based solutions. As healthcare organizations increasingly move towards digital transformation there is a strong preference for scalable, flexible, and cost-effective solutions that can be easily integrated into existing systems.
Segmentation:
Biometrics As a Service in Healthcare Market is segmented based on Component, Modality, End-User, and Region.
Component Insights
- This sector includes Software and Services. The services segment is expected to dominate the target market growth. These services include consulting, customization, and implementation of biometric technologies tailored to specific healthcare needs such as patient identification, access control, and secure electronic health records (EHR) management.
Delivery Mode Insights
- In the target market multimodal is the most dominant segment as it refers to the use of multiple biometric modalities to verify an individual’s identity. This often includes combining different types of biometric data such as fingerprints, facial recognition, and voice recognition.
End-use Insights
- In the target market hospitals and clinics is the most dominant segment as they deal with a large volume of patient data and interactions daily. Biometrics, such as fingerprint recognition and facial recognition, provide a secure and accurate method for identifying patients.
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Recent Development:
- In April 2024, Onfido's acquisition by Entrust was completed, and Vision-Box signed an agreement with Amadeus. The authentication company Entrust has completed the acquisition of Onfido, a provider of selfie biometrics, following several months of initial negotiations. In a similar vein, Amadeus completed the acquisition of Vision-Box after authorities gave its final approval.
Regional Insights
- North America: the development of biometrics as a service solution is aimed at the used of cutting-edge technology like artificial intelligence and cloud computing. North America hospitals and clinics use these technologies to improve the scalability and efficiency of their biometric systems.
- Asia Pacific: This region’s healthcare systems have developed more attention and is being paid to safeguarding patient data against attacks and illegal access. Biometrics as a service offers a strong remedy for these issues.
Browse Detail Report on "Biometrics As a Service in Healthcare Market Size, Share, By Component (Software, Services), By Modality (Unimodal, Multimodal), By End-User (Hospitals and clinics, Pharmacies, Insurance providers, Government healthcare agencies), and By Region - Trends, Analysis, and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/biometrics-as-a-service-in-healthcare-market-5552
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