LONDON--(BUSINESS WIRE)--According to the latest market research study released by Technavio, the global biometric access control systems market is expected to exceed USD 12 billion by 2019, growing at a CAGR of over 18% during the forecast period.
This research report titled ‘Global Biometric Access Control Systems Market 2015-2019’, provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecast for various market segments and all geographical regions.
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The report segments the global biometric access control systems market by end-user and can be divided into four broad categories:
- Government (worldwide)
- BFSI
- Transportation
- Healthcare
Global biometric access control systems market by government sector
The share of the government sector in the global biometric access control systems market is predicted to reach almost 6 billion by 2019, growing at a CAGR of over 16%.
According to Amrita Choudhury, lead analyst at Technavio for automatic identification system research, “Increased awareness about the benefits of biometric access control systems among government organizations and rise in government infrastructure projects worldwide are driving the market. Governmental organizations use these systems for workforce management and authentication of their customers.”
Centerlink, the Australian social security department, uses voice-based biometric access control system to authenticate their regular callers by asking for their Centerlink numbers, names, and answers to secret questions. This technique helps in verifying the voice of an account holder and processing his or her request immediately. The Government of India is using Aadhar-based biometric attendance system for registering the presence of employees in government organizations. This helps employees maintain their productivity and efficiency and manage their leaves and working hours.
Global biometric access control systems market by BFSI sector
The share of the BFSI sector in the global biometric access control systems market is expected to exceed USD 2 billion by 2019, growing at a CAGR of over 19%.
With rising security breaches and transaction frauds, the need for highly secure identification and personal verification systems has become imperative, especially in the BFSI sector. Several global banks and financial institutions are integrating biometric technologies, such as voice recognition and fingerprint recognition, with access control systems in cellphone-based applications to provide customers secure access to online accounts.
ING, a Dutch bank, has added biometric authentication functionality on its mobile banking application. Customers can use Apple's Touch ID to check their account balance and transactions on the application.
Global biometric access control systems market by transportation sector
The share of the transportation sector in the global biometric access control systems market is expected to reach USD 1.8 billion by 2019, growing at a CAGR of over 20%.
The market share of the sector is likely to rise due to an increase in the implementation of biometric access control systems for cross-border programs at various airports and seaports. A number of immigration counters in countries such as the UK have integrated fingerprint recognition technology with access control systems to facilitate passenger verification, increase workforce efficiency, and reduce waiting time at counters.
Soekarno-Hatta International Airport in Jakarta, Indonesia, has made it mandatory for passengers to provide their passports along with a fingerprint scan.
“Other advanced biometric technologies, such as iris recognition, are being embedded in passports and visas for individual identification,” says Amrita.
Global biometric access control systems market by healthcare sector
The share of the healthcare sector in the global biometric access control systems market is predicted to exceed USD 1.6 billion by 2019, growing at a CAGR of almost 20%.
The market in the healthcare sector is growing rapidly due to the implementation of stringent regulations such as Health Insurance Portability and Accountability Act to maintain the privacy of patients. Doctors are increasingly adopting the fingerprint biometric-integrated mobile devices to access their patients' records remotely. The technology helps in maintaining privacy and security of people's secure electronic health records.
Healthcare organizations are integrating biometric access control systems in employees ID cards to track their working time and attendance.
Fujitsu provides palm vein recognition-based access control systems to enhance physical access security in hospitals. As per Technavio analysis, contactless palm vein authentication is considered secure, hygienic, and non-intrusive. It is highly secure, since the scanning device identifies individuals by the pattern of the blood flow within their veins.
Technavio’s ICT research analysts highlight the following five vendors as the top contributors to the global biometric access control systems market:
- 3M Cogent
- HID Global
- M2SYS Technology
- NEC
- Safran
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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