Wednesday, 3 May 2017

Fingerprint Access Control System Market share to exceed $4.5bn+ by 2023

Industry Overview

The research report Fingerprint Access Control System Market Size By Application (Banking & Finance, Consumer Electronics, Commercial, Government, Healthcare, Military & Defense), By Technology (Capacitive, Optical, Pressure, Thermal, Ultrasonic), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, Japan, India, Mexico, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023”, by Global Market Insights, Inc. says Fingerprint Access Control System Market size is set to exceed USD 4.5 billion by 2023; impelled by growing smartphone market.

Rising security concerns leading to an increasing demand for biometric systems will augment fingerprint access control systems industry growth. High rate of terrorist and criminal activities across the globe, increasing safety concerns, and advanced technological innovations will also fuel product demand.

The latest cloud computing technology offers features such as finger vein, palm vein, hand geometry, voice, and facial recognition. Cloud-based biometric systems find applications in major corporations for extensive information storage, and are highly preferred owing to advanced features and cost-effectiveness. Growing demand for cloud services will escalate fingerprint access control systems industry growth.

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The business sector will emerge as a major revenue generator, fueled by the demand for security systems in office buildings, schools, collages, and other areas. Fingerprint Access Control Systems Market for commercial applications contributed to more than 34% of the global share in 2015, and is set to witness tremendous growth over 2016-2023.

Extensive demand for data security in popular electronic items such as tablets, personal computers, and smartphones will catalyze fingerprint access control systems industry growth, with manufacturers striving to integrate security features in electronic products.

Banks and other financial organizations across the globe are incorporating high-end integrated technologies to mitigate security threats, avoid transaction frauds, and provide consumers with safe and secure account access. Adoption of biometric systems for personal identification and verification across the BFSI sector will be a major driving factor for Fingerprint Access Control Systems Market.
Based on technological trends, fingerprint access control systems industry is segmented into optical, ultrasonic, capacitive, thermal, and pressure.

Capacitive fingerprint access control systems are cost-effective and can be easily integrated into small devices, which results in their increased adoption across the healthcare and banking sectors. Capacitive Fingerprint Access Control Systems Market is projected to increase at a CAGR of almost 7.5% over the period of 2016-2023.

Ultrasonic fingerprint access control system registers fingerprints via high sound frequency and is expected to exhibit significant growth over 2016-2023.

Optical technology based fingerprint access control systems industry contributed to 35% of the global share in 2015 and is projected to exceed USD 1.75 billion by 2023. This growth can be attributed to the features provided by optical technology, such as high resolution, excellent image quality, low-cost maintenance, convenient integration, and high durability.

Asia Pacific Fingerprint Access Control Systems Market is predicted to grow at a CAGR of more than 7.5% over 2016-2023, driven by criminal activities, increased security concerns, and favorable government initiatives in countries such as India and China.

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U.S. houses industry giants such as NEC Corp. of America and 3M Cogent, which will drive regional demand. Increasing requirement of security systems across the healthcare and consumer electronics sectors will drive U.S. fingerprint access control systems industry.
High crime rates in Brazil will contribute heavily to Fingerprint Access Control Systems Market share over 2016-2023. Furthermore, the unexplored sector of security systems and growing business landscape will drive regional demand.

Key participants include Lockheed Martin Corporation, Aware, Inc., 3M Cogent, NEC Corporation of America, Cross Match Technologies Inc., and SecuGen Corporation. Other contributors include Safran Group, IDtech 360, Anviz Global, ZKTeco, Merkatum Corporation, Fingerprint Cards AB, Daon Inc., and Suprema Inc.

Mergers and acquisitions is the key strategy adopted by industry players to diversify their product range and deal with the rising industry competition. Increasing budgets across the BFSI, military, and healthcare sectors coupled with technological innovations provide numerous business opportunities to companies.

Report Content

Chapter 1    Methodology and Scope

1.1    Research methodology
1.1.1    Initial data exploration
1.1.2    Statistical modeling and forecast
1.1.3    Industry insights and validation
1.2    Data Sources

Chapter 2    Executive Summary

2.1    Fingerprint access control industry 360° synopsis, 2012 - 2023

Chapter 3    Fingerprint Access Control Industry Insights

3.1    Industry Segmentation
3.2    Industry Size and forecast
3.3    Industry ecosystem analysis
3.3.1    Vendor landscape
3.4    Industry Impact forces
3.4.1    Growth drivers    Growing smartphone market    Favorable regulatory landscape    Increased security concerns
3.4.2    Industry pitfalls and challenges    High technology cost    Data security and privacy issues
3.5    Growth potential analysis
3.6    Porter’s analysis
3.7    Competitor landscape, 2015
3.7.1    Competitive strategy landscape
3.8    PESTEL analysis

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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