Research scope of the global biometric in workforce management market
Technavios market research analysts predict the global biometric workforce management to record a CAGR of more than 17% from 2015 to 2019. The report considers revenues generated from the sales of biometric solutions, including hardware, software, integrated solutions, and services used by enterprises and government organizations to authenticate and monitor employees. Authentication implies identification and access control for premises and system networks while monitoring includes surveillance, time, and attendance.
The market is mainly driven by the need for organizations to adopt biometric workforce management to replace traditional security systems. These include PINs, ID cards, passwords, and keys that are traditionally used to record clock in and clock out.
Market segmentation of biometrics in workforce management by application
Biometric access control systems restricts unauthorized access, thus ensuring safety of employees and mitigating the risk of tampering important data. People are granted access only when their identity is confirmed by the information stored in the database of the enterprise. Access control is the fastest growing segment, predicted to reach a market size of more than USD 5.5 billion during the forecast period.
Global biometric market in workforce management by technology
Fingerprint identification accounts for the largest share of this market. Fingerprint technology is the oldest biometric technique, mostly used by organizations worldwide for time and attendance monitoring, and access control. As its accuracy rate is relatively higher, this segment will continue to sustain growth during the forecast period.
Geographical segmentation of the biometric market in workforce management
The market share of the North America region is expected to decline by the end of 2019. During the same period, the market share of APAC is estimated to increase on account of high adoption in countries such as China and India. The Europe market will witness higher adoption from Nordic countries such as Denmark and Norway as compared to the UK during the forecast period.
Competitive analysis of the biometric market in workforce management
Vendors in this market are expected to launch multimodal biometrics for time and attendance with combinations such as inbuilt fingerprint as well as finger vein recognition systems within a single device. As multi-modal biometric system saves cost, its demand among end-user industries such as construction will pose an attractive opportunity for the market vendors over the next four years.
Other prominent vendors in this market include ATS, BioLink Solutions, Biometric Time Clock Systems, Biomatiques Identification Solution, BioSITE Systems, Delaney Secure, Easy Clocking, ePortID, FingerCheck, Fujitsu, HID Global, Iris ID, IriTech, SecurAX, SekureID, Tensor, TimeLabs, and Trac-Tech.
Key questions answered in the report
What are the key factors driving the biometric market in workforce management
What are the key market trends impacting the growth of the biometric market in workforce management
What are the various opportunities and threats faced by the vendors in the biometric market in workforce management
Trending factors influencing the market shares for MEA, Latin America, APAC, Europe, and North America
Key outcome of the five forces analysis on the biometric market in workforce management
Growth forecast of the biometric market in workforce management until 2019
Technavio also offers customization on reports based on specific client requirement.