New biometrics market reports by Goode Intelligence and Technavio

December 5, 2015 - 

Two new reports for the biometrics industry were recently released.

Mobile biometrics for financial services

Goode Intelligence has published a new report, “Mobile Biometrics for Financial Services; Market & Technology Analysis, Adoption Strategies & Forecasts 2015-2020”, which predicts that by 2020 over 16 billion mobile biometric payment transactions will be made.

According to the research firm, millions of customers (120 million plus during 2015) are using mobile biometrics daily to provide secure user authentication and transaction authorization. This trend is set to continue and accelerate.

The report identifies major trends driving the industry and analyzes how mobile biometrics has an increasingly important role in fraud reduction and improving customer experience for financial services customers worldwide.

Report author Alan Goode commented, “biometrics is a disruptive force for the financial services industry and is being used by new FinTech entrants, including mobile device manufacturers and mobile platform owners (Apple, Google and Samsung), as a method of dominating the banking and payment experience through ownership of a customer’s identity.”

Companies referenced in the report include: Alipay, Agnitio, Apple, ARM, Banco Santander, Bank of Lanzhou, Bank of China, Bank of Korea, Barclays, BehavioSec, BioCatch, BIO-key, Biometrics Signature ID, British Bankers Association, Cirrus Logic, Daon, DARPA, Diamond Fortress, Diebold, EarlyWarning, Edgar, Dunn & Co., EMVCo, Encap Security, Ernst & Young, ECB, eyeLock, EyeVerify, Facebanx, FFIEC, FCA, FFA, Fingerprint Cards, Fotonation, Fujitsu, Garanti Bank, Gemalto, Getin Bank, Google, Hitachi, Hoyos Labs, HYPR Corp., Huawei, Idair, IDEX, IEEE, ING Bank, IrisGuard, Isbank, KeyLemon, MasterCard, Microsoft, NIST, NCR, NEXT Biometrics, Nok Nok Labs, NTT DoCoMo, Nuance, Nymi, OCBC, OCC, OKI, PayPal, Pindrop, Qualcomm, RBS, Royal Bank of Canada, RSA Security, Samsung, SayPay, St Georges Bank, Sonavation, Synaptics, Tangerine Bank, Tencent, The FIDO Alliance, The Natural Security Alliance, Trustonic, USAA, US Federal Reserve, ValidSoft, Verint, VISA, VoiceTrust, VoiceVault, VOXX International, Westpac, Wincor Nixdorf and ZTE.

Biometrics in workforce management

Technavio has released a new report entitled “Global biometric market in workforce management” which discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.

The global biometric market in workforce management is expected to grow at a CAGR of 20% between 2015 and 2019 due to the growing need to address issues of buddy punching, time theft, data theft, and identity theft issues.

APAC is estimated to be the fastest-growing region during the forecast period with several enterprises in countries like India and China expected to implement biometric time and attendance solutions to mitigate time fraud and employee attendance issues.

Fingerprint identification accounts for 63% of the total workforce management market share and is expected to continue to sustain growth during the forecast period.

“Construction sites are implementing biometrics workforce management systems to provide authorized access, owing to increasing security dimensions at construction sites,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research. “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.”

Companies mentioned in the report include BioEnable, 3M, M2SYS Technology, Safran and Suprema.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.