Enterprises to Adopt Biometric Middleware Solutions in Next 10 Years
According to a recent report by FactMR, the biometric middleware solution market is likely to see more demand in the coming years. This kind of solution facilitates enterprises to rapidly deploy biometrics solutions without any development hassles within a very affordable budget and the demand is rising dramatically.
What is Biometric Middleware?
Biometric middleware is a ready software solution that facilitates biometric identification (1:N) or authentication (1:1) functions for desktop or web applications with the help of a biometric scanner and a biometric matching engine. When using biometric middleware, it’s just a matter of hours to deploy a full-fledged biometric system. Some middleware solutions, like Hybrid Biometric Platform by M2SYS, even comes with support for multiple biometric modalities like the fingerprint, finger vein, iris, and facial recognition.
Market Scenario
Research conducted by Fact.MR disclosed their report on the market size of biometric middleware. According to present demand and the rate of adoption of biometric middleware in enterprises, it is expected to reach 4.3 billion US dollars in the next 10 years, whereas the present market size is just around 1 billion US dollars. Another market research report recognized M2SYS Technology as one of the leading contributors behind this growth. There are millions of patients in the USA relying on their biometric identification systems, thousands of bank account holders are identified every day and enterprises are saving billions of dollars per year by optimizing their workforce.
Why are Companies Looking for Biometric Middleware?
Let’s look at the example of ASMAB – a West African Micro-Credit bank was experiencing serious problems with fraudulent applications in Benin. To continue their efforts to facilitate widespread socioeconomic development, they needed a quick and affordable solution to identify fake loan applicants from real. That’s when they opted for Hybrid Biometric Platform, a biometric middleware solution from M2SYS. There are many other companies all around the globe favoring biometric middleware solutions because:
It’s Affordable
In the last couple of years, the introduction of the biometric-as-a-service model has made the adoption of biometric technology more affordable for businesses of all sizes.
It’s Accurate
Different industries like manufacturing, communication, media, and service providing enterprises are more aware of the accuracy and benefits of biometrics and are expected to adopt the technology this year, which is projected to be 60% of the total market.
It’s Easy to Deploy
As it eliminates the cost of system development, IT maintenance burdens, and saves time, the demands for such solutions are rising exponentially.
Role of M2SYS
M2SYS Technology, headquartered in Atlanta, has developed extra-ordinary biometric matching systems and cloud applications over the years. They are now offering biometric-as-a-service to the governments and enterprises of different scales. In addition, their Hybrid Biometric Platform is still one of the best middleware solutions available in the market, which supports multimodal biometrics like the fingerprint, finger vein, iris, and facial recognition in a single platform through a single integration.
