Fact.MR has released a new report that suggests that the biometric middleware market is poised to recover from its slight dip in 2020. That decline was primarily the result of COVID-19, but Fact.MR believes that the market is already beginning to rebound and will soon resume the upward trajectory that it was on before the onset of the pandemic.
The firm attributed much of the anticipated growth to the rising demand for biometric authentication in a number of different sectors, and especially in healthcare, government, and financial services. For the latter, potential applications include fraud prevention and the authorization of payments. Organizations in other sectors can use the technology to prevent data breaches, comply with the world’s strict data protection requirements, and ensure that people’s sensitive personal information remains secure.
According to Fact.MR, the demand will be particularly high in North America and Europe, which will be the largest markets for biometric middleware tech, though the Asia Pacific region will display the most growth leading up to 2031. The United States and Germany will be the biggest players in their respective regions, while China and India will present lucrative growth opportunities in the APAC area.
Despite the optimistic forecast, Fact.MR did note that middleware providers will have to overcome a few hurdles in the next10 years. Small and medium-sized operations often cannot afford expensive middleware technology, while other organizations may not have the technical expertise (or the funds) needed to integrate new biometric hardware. There may also be some sanitary concerns about contact-based biometric modalities in the wake of COVID-19.
Fact.MR listed Daon, Aware, Precise, ImageWare, and CrossMatch as some of the most noteworthy providers of biometric middleware solutions. The firm has previously argued that biometric technologies will drive much of the demand for physical access control systems in the next 10 years.
April 6, 2021 – by Eric Weiss