Biometric Lockers Market Set to Surge Significantly During 2017 – 2027

Biometric Lockers market is one of the gradually increasing market due to rising risk of theft and loss. This security solution help users to save their valuable things such as jewellery, money and other important documents. The traditional security systems provide security with the help of keys which can be stolen or lost easily. These Biometric security systems offers secured and higher security with the help of password. Many companies are providing Biometric Locker systems that include features such as equipment charging and updating, usage monitoring, and security to storage item and access control.

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These Biometric Lockers help users to secure their confidential documents and other valuable items without carrying some key as Biometric lockers verify users with the help of their password and fingerprints. This biometric locker system has no keys hence no duplication and allow only authorized person to open it.

Biometric Lockers Market: Drivers and Challenges

The major factor driving the adoption of Biometric lockers is the increasing issues of theft. Many individuals keep some amount of money or valuable with them for emergency cases this increases the risk of theft. Moreover, simple lockers with password or keys do not provide proper security. People are using these Biometric Lockers as these are advance security solutions which provides security lock with the help of fingerprint, or iris recognition or other identification mode. These Biometric lockers systems have enhanced the security market.

The key challenge for Biometric Lockers market is that biometrics security system uses fingerprints to identify its users and an accident causes a user to lose his/her finger then it can be a problem during the verification process. For voice recognition methods, illnesses such as strep throat can make it hard for authorized users to get access to their information. Another factor that can influence voice recognition systems is the continuous aging of its users. Noise in an environment where voice recognition is used to identify its users can also make it hard for users to be identified

Biometric Lockers Market: Segmentation

Segmentation on the basis of Types:

Hardware

Software

Service

Segmentation on the basis of technology:

Face recognition

Voice recognition

Iris recognition

Others

Key Contracts:

In August 2015, ICICI bank launched fully automated locker named as Smart Vault. This biometric locker uses robotic technology to access the lockers from the safe vault and enables customers to conveniently access their lockers at any time of their preference, in the comfort of a secure lounge where the locker automatically comes up to the customer. Customers can access the lockers in total privacy without any intervention of the branch staff.

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In Biometric Lockers market there are many manufacturers and providers some of them are WYSE Biometric systems, Myritrac, and others.

Regional Overview

Presently, North America and Europe is holding the largest market share for Biometric Lockers market due to high rate of theft and security breach many large industries such as hospitality, BFSI and healthcare. The adoption of biometric based lockers is increasing in the APAC region also, due to less cost and easy to operate.

The report covers exhaustive analysis on:

Biometric LockersMarket Segments

Market Dynamics

Historical Actual Market Size, 2014 - 2016

Market Size & Forecast 2017 to 2027

Value Chain

Market Current Trends/Issues/Challenges

Competition & Companies involved

Market Drivers and Restraints

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