Biometrics in the Hospitality Industry: Market Size and Growth
To determine the current global market size of biometrics in the hospitality industry, as well as its projected growth, in terms of CAGR, up until 2025.
- According to a market research study that estimates the size and growth between the years 2016 and 2020, the global biometrics market in the hospitality sector is expected to exceed the size of US$ 612 million by 2020, registering a CAGR of nearly 28%.
- The report segments the global biometrics market in the hospitality sector into three broad areas: global fingerprint identification market, global facial recognition market, and global vein recognition market.
- According to estimates, the global fingerprint identification market in the hospitality sector is estimated to reach a market size of US$ 397 million by 2020, at a CAGR of 27% between 2016 and 2020.
- The global facial recognition market in the hospitality sector and the global vein recognition market in the hospitality sector are expected to reach market size of US$ 147 million and US$ 60 million respectively by 2020, posting CAGR of over 30% and 29% respectively.
- According to a market research report published in November 2019, the global biometrics market, overall, is estimated to grow from US$ 14.9 billion in 2018 to US$ 42.9 billion by the end of 2025, at a CAGR of 16.30%.
- Some major players in the global biometrics market in the hospitality sector are: 3M Cogent, Crossmatch, Fujitsu, M2sys and Nec.
Proposed next steps:
You need to be the project owner to select a next step.