The Fingerprint Access Control market delves into the possible growth opportunities for the global market and the chronological growth of the market throughout the forecast period.
The fingerprint access control market is segregated based on product, application and region. The product segment includes Optical, Capacitive, Pressure, Ultrasonic, and Thermal fingerprint access control system. Based on application, the market is categorized into Commercial, Consumer Electronics, Government, Military & Defense, Banking & Finance, Healthcare application segment.
Market Outlook
The global fingerprint access control market size was valued at USD 2.50 billion in 2014 and is expected to grow steadily with a growth rate of over 7% over the forecast period. Growing demand for security solutions globally is expected to drive the market over the forecast period. Additionally, increasing adoption of IoT-based security systems and technological advancements and deployment of wireless technology in security systems is further projected to spur the market.
Increasing demand for access control solutions globally is considered to the major factor behind the market growth. The technology growth can be directly associated to the development of the commercial sector and increasing security concerns across the world. The developments in retail sector, banking & finance, and hospitality has led to the implementation of the technology. Rising demand for the biometric solutions owing to the escalating safety and security threats is further anticipated to benefit the market. The ability of the technology to offer reliable solutions for enhancing access control and to eliminate transaction fraud and security breaches will spur the industry.
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Major Industry Players:
Few key players include Anviz Global, 3M Cogent, Aware, Inc., Daon Inc., Cross Match Technology, EnterTech Systems, Diamond Fortress Technologies, Fingerprint Cards AB (FPC), IDtech 360, Hitachi-Omron Terminal Solutions, Lockheed Martin Corporation, Manage ID, NEC Corporation, and Suprema Inc.
Optical fingerprint access control system segment holds the major share
The ability to offer high image quality and features such as low cost maintenance, physical resistance, high resolution, easy integration and large sensing areas is projected to further contribute to maintain the dominance of optical in the industry over the forecast period. Capacitive fingerprint access control system is anticipated to witness substantial growth over a CAGR of 7% owing to the low cost and compact sizes. The implementation of technology in various application sector such as healthcare, banking, internet access and entertainment for preventing fake enrollment will also boost the market growth.
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Consumer Electronics is expected to witness the substantial growth
Increasing demand for high level of security for protecting data across tablets, smartphones, and computers is expected to enhance the segment growth. Growing application of cloud based services is further expected to spur the market. Additionally, personal identification to decrease the privacy breach is also an advantage for the technology industry.
North America is accounted for major share in 2016
Increasing penetration of solutions in consumer electronics and healthcare will boost the regional market. Technological advancements and increasing budgets across banking & financial, military & defense sectors will boost various opportunities to the industry. Asia Pacific is projected to witness significant growth over the forecast period owing to the rising security concern and increasing government initiatives will further offer tremendous growth opportunities for industry.
Moreover, technological advancement and availability of progressive solutions for fulfilling the commercial and government sectors may also boost the industry over the forecast period. Increasing government initiatives and stringent norms for deploying biometric system will further supplement the market share over the forecast period. Furthermore, the government projects such as national identification program and e-passports will also spur the market.
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