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.
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.
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.
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
2.1 Fingerprint access
control industry 360° synopsis, 2012 - 2023
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
3.4.1.1 Growing
smartphone market
3.4.1.2 Favorable
regulatory landscape
3.4.1.3 Increased
security concerns
3.4.2 Industry
pitfalls and challenges
3.4.2.1 High
technology cost
3.4.2.2 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
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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
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and biotechnology.
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Corporate Sales, USA
Global Market Insights, Inc.
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