• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

Technavio Predicts Strong Growth in Biometric Workforce Management

March 31, 2016

Technavio is predicting strong growth for the global biometric workforce management market over the next few years. The market research firm forecasts a CAGR of 17 percent between 2015 and 2019.

Technavio Predicts Strong Growth in Biometric Workforce ManagementPredictably, the market’s growth is primarily being driven by organizations’ desire to replace traditional and archaic employee tracking systems, both in the areas of time and attendance tracking, and security via access control. Technavio says the latter is the faster-growing segment, and expects it to reach a value of $5.5 billion by the end of the forecast period, while the overall global workforce management market is predicted to reach a value of $26.57 billion.

Interestingly, Technavio analyst Amrita Choudhury points to multimodal biometric solutions as a key driver of the overall market. In a report synopsis, Choudhury asserts that because multimodal systems “are more accurate, reliable, secure, and help prevent spoofing attacks,” they “are likely to be accepted for time and attendance monitoring due to its reliance on multiple biometric technologies, rather than a single biometric characteristic for identification.”

It’s a notable prediction given that multimodal solutions are only just starting to become more widespread in hypothetically more sensitive applications such as in financial services, whereas the need for such security would seem to be less pressing in areas like time and attendance tracking. Still, in access control there could be a rising appetite for multimodal solutions as awareness about potential spoofing rises, particularly in highly sensitive environments.

In any case, the overall market – with multimodal and single-modality solutions alike – is evidently on the rise.

—

March 31, 2016 – by Alex Perala

Primary Sidebar

Identity is Shaping Air Travel – Time to Invest

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

TECH5 logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

Recent Posts

  • Another Big BIPA Ruling, Paris Olympics Legislation, NEOM Airlines, and More: Identity News Digest
  • FacePhi Co-founds Social Impact Project With Spanish University, Investment Group
  • The NSA and CISA Highlight On-device Privacy: Identity News Digest
  • On-demand Webinar: Building a Passwordless World
  • Webinar: Building a Passwordless World with Prove’s Bill Fish

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 FindBiometrics