Biometrics in workforce management is a technology that enables identification of a person to grant access to systems, devices, or data through physical or behavioral human characteristics. Fingerprints, facial patterns, voice, or typing cadence are some major examples of biometric identifiers. Biometric types include fingerprints, photo and video, physiological recognition, voice, signature, and DNA.
Global Biometrics in Workforce Management Market – Dynamics
Rising Mass Migration across the Globe
Over the last 8-10 years, the number of people migrating from one city to another or from one country to another has increased exponentially. The industrial revolution has played a major role in the rising mass migration. The industrial revolution in 1760 was the origin which encouraged companies to go global. This has resulted in rising number of people migrating from one country to another for work. Biometrics helps in eliminating buddy punching and a number of other issues caused by loopholes and inaccuracies in the older attendance and time keeping systems.
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Rising Concerns About Data Theft and Data Privacy
Concerns about data theft and data privacy across the globe is high because the number of data thefts and data breach cases have increased in the past few years. Government agencies and governments need to pay large amounts running into over millions of US$ for data recovery.
For instance, U.S. data breach incidents tracked in 2017 hit a new record high of 1,579 breaches. According to IBM, the average total cost of a data breach in the U.S. reached a record-breaking US$ 7.35 million in year 2017. The cost related to resolving any data breach attack is very high. For example, a malware attack costs a financial business around US$ 825,000 on average to resolve.
North America to Dominate the Global Biometrics in Workforce Management Market
In terms of region, the global biometrics in workforce management market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global biometrics in workforce management market during the forecast period, as adoption of multiple and advanced digital display technologies by SMEs and large enterprises is higher in this region compared to other regions.
COVID-19 Impact on the Global Biometrics in Workforce Management Market
The COVID-19 pandemic is expected to adversely impact the global biometrics in workforce management market for a short-term period. This is attributed to lockdown in countries of Europe, North America, and Asia Pacific regions, which hold 75%–85% share of the global biometrics in workforce management market. Expansion of the work from home concept has impacted the deployment of biometric systems across enterprises.
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Global Biometrics in Workforce Management Market – Competition Landscape
- In January 2019, in CES 2019, Pindrop launched a voice identity platform for IoT, voice assistants, smart homes and offices, and connected cars. The company also extended enterprise-grade identity technology to voice-enabled consumers and enterprise devices as the trusted form of authentication.
Established in 2007, IDEMIA is headquartered in Paris, France and is a leading supplier of software used for identification management. IDEMIA is majorly focused on designing and developing augmented reality-based security products across the globe. The company caters to finance, telecommunication, and government sectors. It has deployed nearly 5 million biometric terminals worldwide, catering to nearly 180 countries.
Global Biometrics in Workforce Management Market: Segmentation
The global biometrics in workforce management market can be segmented based on:
Global Biometrics in Workforce Management Market, by Product
Based on product, the global biometrics in workforce management market can be divided into:
- Hand geometry
Global Biometrics in Workforce Management Market, by Industry
In terms of industry, the global biometrics in workforce management market can be segregated into:
- Banking, Financial Services & Insurance
- Telecom & Information Technology (IT)
- Wholesale Distribution
- Non-profit Organizations
- Food & Beverages
- Others (Hospitality, Government, Public Sector, etc.)
Regional analysis of the global biometrics in workforce management market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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