LeapZipBlog: Steve Blade's blog: Biometric Services Platform (BioSP) Market will perform during the forecast period 2018 2028

Biometric Services Platform (BioSP) Market will perform during the forecast period 2018 2028

May 23, 2019 by Steve Blade  

In the commercial and industrial sectors, the features offered by an organization’s biometric services platform eliminate the risk of fraud and trespassing, and enables unfailing identification of individuals. This is the primary driver of the Global Biometric Services Platform (BioSP) Market. Suppliers offer customizable biometric products that can be integrated with a standard biometric services platform to meet the organization’s needs. However, in the case of a large and complex network system that includes multiple sub-system biometric services platforms in various government agencies, international data exchange barriers decrease the efficiency and reliability of biometric products, which, in turn, challenges the global biometric services platform market.

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A biometric services platform enables the integration of advanced biometric data management and processing systems in a standard web service architecture. This service-oriented data biometric services platform offers data management, formatting, workflow, and other utilities for large-scale iris recognition, face recognition, and standard fingerprint recognition. A biometric services platform is ideal for application-based requirements, such as collection of biometric data throughout a vast distributed network, and the consequent analysis, distribution, processing, sharing, and matching of the data. A biometric services platform uses open-source components, extensively, and is usually in compliance with the J2EE standards. A common biometric services platform applies multiple mechanisms for the security of access, communication, and data. A biometric services platform offers a foundation for the basic enrolment, verification, and identification of individuals having multiple roles. A logical access module integrated in a biometric services platform provides user data access, which allows both, specific data security and UI level security, based on individual roles and user groups within the network. This entails that, the biometric services platform can be programed to provide resource access to an individual or a group of individuals with a specific role. If needed, end users can also access the de-duplication and blacklisting features of their biometric services platform, which enables reliable access declination in the case of duplicates and banned individuals.

Companies, such as Invixium, are incorporating the concept of biometric services platforms to develop IoT-enabled biometric products for time management and access control in smart homes and buildings. The company offers its customizable IXM software ecosystem as a biometric services platform for the residential, commercial, and industrial sectors.

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Biometric Services Platform Market: Regional Outlook

Among all the regions, North America holds the largest market share in the global biometric services platform market. It is anticipated to maintain a steady growth rate in the biometric services platform market during the forecast period. The growth of the biometric services platform market in North America is attributed to the ever-rising trend of industrial and commercial automation. The rise in disposable income in the industrial and commercial sectors plays a major role in driving the growth of the global biometric services platform market. Southeast Asian and other Asia Pacific economies are expected to register significant growth rates in the biometric services platform market. Western and Eastern European countries are also expected to generate steady growth rates in the biometric services platform market during the forecast period. The overall growth in the global biometric services platform market is attributed to the ever-rising demand for KYC and fraud prevention services.

Biometric Services Platform Market: Key Players

A few of the major players operating in the global biometric services platform market include Crossmatch; Centrify Corporation; Fischer International Identity, LLC; Identity Automation; ImageWare Systems; Aware, Inc.; I.am; NEC Corporation; Sensory Inc.; Nok Nok Labs, Inc.; IDEMIA, and Invixium, among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.

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