Enterprise biometrics and vein recognition research from Tractica and Technavio

September 4, 2015 - 

Research analyst firms Tractica and Technavio have each published individual reports on biometrics for enterprise applications, and vein recognition biometrics, respectively.

Tractica’s “Biometrics for Enterprise Applications” report examines the market for enterprise applications for biometrics horizontally across all industries, including 10-year forecasts for the period from 2015 through 2024.

One of the report’s top findings it that enterprise biometrics devices and software licenses will reach 142 million annually by 2024.

According to the report, enterprises around the world are growing more comfortable in integrating biometrics in their processes and systems, with annual sales of enterprise biometrics devices and software licenses estimated to increase from 12.7 million in 2015 to 142.0 million in 2024.

The report also forecasts that enterprise IT security will be the dominant biometrics application during the forecast period, but other use cases will also grow as well.

“Biometrics technologies fit every industry,” said principal analyst Bob Lockhart. “Regardless of the vertical market, companies have IT systems that require logon, physical facilities with restricted access, or employees who clock-in and clock-out. Biometrics can make all of those processes faster and more secure.”

The report also examines five use cases that can occur in any industry, as well as a specialized use case for personalized hospitality and entertainment.

Meanwhile, Technavio published a new report titled “Global Vein Recognition Biometrics Market in BFSI Sector 2015-2019“, which covers the present scenario and the growth prospects of the global vein recognition biometrics market in the BFSI sector.

Technavio’s analysts forecast the global vein recognition biometrics market in the BFSI sector to grow at a CAGR of 27.83% over the period 2014-2019.

The report covers the market’s key regions of APAC, Europe, Latin America, MEA, and North America, as well as the market landscape and its growth prospects in the coming years.

The report analyzes the market’s key vendors, including Fujitsu, Hitachi, M2SYS Technology, NEC and Safran, along with other prominent vendors like 3M Cogent, BioEnable, IdentyTech Solutions, IDLink Systems, Mantra Softech, Matrix Security Solutions, Mofiria, PalmSure, and Tyco.

The report also covers several other topics, including the forecasted market size in 2019 and growth rate, key market trends (introduction of palm vein recognition biometrics in smartphones), market drivers (shift from fingerprint to finger vein recognition biometrics in BFSI sector), major challenges to market growth (privacy issues with biometric data), key vendors in this market space, market opportunities and threats faced by the key vendors, and strengths and weaknesses of the key vendors.

Previously reported, research analyst firms TechNavio, Transparency Market Research, and Grand View Research have all published new biometrics market reports which include forecasts for the next decade.

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.