Biometrics in workforce management: Key market research findings
- Incorporation of biometrics at construction sites
- Growing implementation of fingerprint identification
Technavio has released a new market research report on the global biometric market in workforce management, to its biometrics portfolio. The global biometric market in workforce management is expected to grow at a CAGR of 20% between 2015 and 2019, owing to the growing need to address the issues of buddy punching, time theft, data theft, and identity theft issues in several organizations. APAC is estimated to be the fastest-growing region during the forecast period. Several enterprises in countries like India and China are expected to implement biometric time and attendance systems to mitigate time fraud and employee attendance issues.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Construction sites are implementing biometrics workforce management systems to provide authorized access, owing to increasing security dimensions at construction sites. To overcome thefts of tools and equipment from construction sites, the companies are using biometrics identification and monitoring systems at these sites. Moreover, biometric installations also enable monitoring of real-time performance of labor and assessment of productivity,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research
Fingerprint identification is the largest segment of the market, accounting for 63% of the total market share. 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.
The major players in the global biometric market in workforce management include BioEnable, 3M, M2SYS Technology, Safran and Suprema. 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.
A more detailed analysis is available in the Technavio report, Global Biometric Market in Workforce Management 2015-2019.
We can customize reports by other regions and specific segments upon request.
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- Global Fingerprint Biometrics Market 2015-2019
- Emerging Biometrics Technologies: Global Industry Analysis 2015-2019
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