Global Biometrics Market in Hospitality Sector 2016-2020
Published: Nov 2015 | Pages: 69 | SKU: IRTNTR8018 |
Market outlook of the biometrics market in the hospitality sector
Technavio’s market research analyst predicts the global biometrics market in the hospitality sector to grow at a CAGR of around 27% during the forecast period. With the increase in cases of time theft, data theft, and other criminal activities in the hospitality sector, the demand for security technologies including a highly reliable and accessible personal authentication and identification systems has increased. Biometrics has emerged as a suitable security and monitoring solution to meet this need as it is based on the behavioral and physiological characteristics of an individual, which is difficult to replicate. Biometrics in the hospitality sector is seen as the most accurate and reliable system because it eliminates manual inputs, identity card exchange, and time theft.
Biometrics in hospitality sector gives real-time information about workforce and visitors by providing complete and accurate visibility to their reporting and leaving time. It enables the hospitality sector to gain better insight into the employees’ work and time spent on work. Biometrics is being used in the hospitality sector for monitoring, identification, and access control. The adoption of biometrics in the hospitality sector is expected to increase during the forecast period due to the increased instances of security breaches such as terrorist attacks and bombings in the past two to three years in the hospitality sector.
Technology segmentation and analysis of the biometrics market in hospitality sector
- Fingerprint identification
- Facial recognition
- Vein recognition
The fingerprint identification accounted for the largest market share in the biometrics market in hospitality sector during 2015. However, this segment is anticipated to witness a decline in its shares by the end of 2020 as fingerprints can be recreated easily. For instance, The Chaos Computer Club, Europe’s largest association of hackers, was able to reconstruct an accurate thumb impression of an individual by using VeriFinger.
Geographical segmentation and analysis of the biometrics market in hospitality sector
- APAC
- Europe
- Latin America
- MEA
- North America
North America dominated the market during 2015, accounting for a market share of around 40%. The increased acceptance of biometrics in the hospitality sector for time and attendance monitoring, access to PCs, networks, and servers, control access to restricted areas, and limit access to critical data has been driving the market growth in this region. . This region is expected to retain its market leadership until the end of the forecast period due to an increase in instances of security breaches in the hospitality sector such as terrorist attacks and bombings.
Competitive landscape and key vendors
The global biometrics market in the hospitality sector is fragmented due to the presence of numerous small regional vendors and large multinational vendors. International players are investing in upgrading existing technologies. The key players are expected to diversify their geographical presence with a focus on APAC during the forecast period.
The leading vendors in the market are -
- 3M Cogent
- Crossmatch
- FUJITSU
- M2SYS
- NEC
The other prominent vendors of the market include ACTAtek, Allegion, ePortID, Herta Security, Iris ID, IriTech, SecurAX Tech, SekureID, TENBIO, Trac-Tech, Tyco, and WatchGuard.
Key questions answered in the report
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global biometrics market in the hospitality sector?
- What are the key market trends impacting the growth of the biometrics market in the hospitality sector?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global biometrics market in the hospitality sector?
- Trending factors influencing the market shares of the North America, Europe, APAC, MEA, and Latin America?
- What are the key outcomes of the five forces analysis of the global biometrics market in the hospitality sector?
Technavio also offers customization on reports based on specific client requirement.
Related reports:
Table of Contents
- Highlights
- Market overview
- Research methodology
- Economic indicators
- Key market highlights
- Biometrics workflow
- Biometric technologies used in hospitality sector
- Advantages and disadvantages of biometrics in hospitality sector
- Market overview
- Product life cycle of biometric technologies in hospitality sector
- Global biometrics market in hospitality sector
- Five forces analysis
- Global biometrics market in hospitality sector by technology 2015-2020
- Global fingerprint identification market in hospitality sector
- Global facial recognition market in hospitality sector
- Global vein recognition market in hospitality sector
- Segmentation of global biometrics market in hospitality sector by geography 2015-2020
- Segmentation of global biometrics market in hospitality sector by geography 2015-2020 (revenue)
- Vendors matrix
- Description of major vendors
- Vendor news updates
- Other prominent vendors
- 3M Cogent
- Crossmatch
- Fujitsu
- M2SYS Technology
- NEC
- List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
PURCHASE FULL REPORT OF
market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
Why should you prefer Technavio's market insights report?
- Off-the-shelf research reports
- Reports can be tailored to meet the customer's needs
- Trusted by more than 100 fortune 500 organizations
- Information about the market's key drivers, trends, and challenges
- Parent market analysis
- Every week, 50,000 people visit our subscription platform
- Detailed vendors report with competitive landscape
- Covid-19 impact and recovery analysis
- Data on revenue-generating market segments
- Details on the market shares of various regions
- Five-force market analysis