Biometric workforce management or time and attendance systems offer a common set of performance-based capabilities. In order to support corporate management, frontline supervisors, store managers, and employees across manufacturing, distribution, transportation, and retail operations. As previously mentioned, a biometric attendance system uses a worker's fingerprint to allow them to clock in and out of their workplace. The system first scans and maps out each employee's fingerprint using a variety of predetermined locations.
Highlights from Biometric Workforce Management Market Study
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The key Vendors profiled in the report are M2SYS (United States), IDEMIA (France), TBS Biometric (Switzerland), Aware, Inc (United States), NEC Corporation (Japan), Cogent Systems, Inc (United States), HID Global (United States), Precise Biometrics (Sweden), Aratek (Taiwan) and Iris ID Systems Inc (United States). Additionally, other players that are part of this comprehensive study are Mantra Softech (India), Invixum (Canada) and Aditech Ltd (United Kingdom).
Geographic Breakdown and Segment Analysis
The Global Biometric Workforce Management market presents a comprehensive analysis of the Biometric Workforce Management market by product type (Fingerprint, Facial Recognition, Iris, Voice and Other), by end-user/application (Time Attendance, Access Control, Citizen Identification and Other), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Biometric Workforce Management industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the holds majority of market share of the Biometric Workforce Management market
Analyst at AMA have segmented the market study of Global Biometric Workforce Management market by Type, Application and Region.
Influencing Trend:Rapid Use of Artificial Intelligence in Biometric Workforce Management
Market Growth Drivers:Rising Concern About Security, Data Threats and Data Leaks in Organization and Demand in Time and Attendance Management in Workplaces
Challenges:Limited Capabilities Due to Lack of Advanced Software, Data and Privacy Leaks Concern Associated with Biometric Workforce Management, Lack of Expertise Understanding Highly Technical and Complex Biometric Workforce System and Lack of Standardization Associated with Biometric Workforce Management
Restraints:High Cost Associated with Biometric Workforce Management and Error in Providing False Acceptance Rate (FAR) and False Rejection Rate (FRR)
Opportunities:Growing Corporate Sector Leads Demand of Biometric Workforce Management and Rapid Adoption of IoT and Innovation in Fifth generation Technology
On 10 November 2020, TBS is introducing the 2D Time, a fingerprint recognition device with a large screen for workforce management and time and attendance applications. The adoption of biometrics in workforce and identity management and in time and attendance has been witnessing a steep growth in the past years. It is part of a trend towards organizational restructuring, which highlights security and accuracy as well as other advantages such as productivity, transparency and accountability.
Regulatory Insights:Overall, Illinois' Biometric Information Privacy Act (BIPA) enacted in 2008is generally considered the most stringent of all state laws regarding biometric data. Under BIPA, a private entity cannot collect or store biometric data without first providing notice to employees, obtaining written consent and making certain disclosures. In addition, covered entities are required to develop a written policy establishing a retention schedule and guidelines for permanently destroying biometric data.
The market for Biometric Workforce Management is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share.
Key Target AudienceBiometric Workforce Management, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others