Global Fingerprint Access Control Systems Market is expected to reach USD 11.88 billion by 2024. Fingerprint access control systems is a biometric access control system that allows an enhanced level of security than passwords or cards. It recognizes human beings through their physical uniqueness. The system reads the print of the finger and matches it against the stored image that has already been taken. The fingerprint access control systems market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.
The factors that are playing a major role in the growth of the fingerprint access control system market are the rising demand for biometric solutions, growing demand from end-users, availability of innovative solutions and technological enhancement, and rising crime and terrorist activities. However, developing palm and iris authorization systems may restrain overall market growth in the years to come. Fingerprint access control systems market is segmented based on product type, application, and region.
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Thermal, optical, ultrasonic, capacitive, pressure, and other product types could be explored in fingerprint access control systems in the forecast period. The optical sector accounted for the substantial market share of fingerprint access control systems and is estimated to continue its dominance in the years to come. The reason behind the overall market growth could be the rising use of electronic devices like smartphones. In addition, the capacitive sector is estimated to grow at the highest CAGR in the years to come.
The market may be categorized based on applications like healthcare, commercial, banking & finance, consumer electronics, military & defense, government, and others could be explored in the forecast period. Commercial sector accounted for the significant market share of fingerprint access control systems and is estimated to lead the overall market in the years to come. The reason could be rising demand for safety and security across the business sector. Also, the consumers electronics sector is estimated to grow at the fastest pace in the years to come.
Globally, North America accounted for a substantial market share of fingerprint access control systems and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be growing penetration of solutions across consumer electronics and healthcare industries, high funding for banking & financial and military & defense sector, and technological enhancement. The United States is a major consumer of fingerprint access control systems in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise growing crime and security threat. The developing countries like India and China are the major consumers of fingerprint access control systems in this region.
The key players of fingerprint access control systems industry are ZKTeco, 3M Cogent, Aware, Inc., Cross Match Technologies Inc., Diamond Fortress Technologies, ViRDI Tech, Daon Inc., Fingerprint Cards AB (FPC), Entertech Systems, Merkatum Corporation, Hitachi Omron Terminal Solutions, Suprema Inc., NEC Corporation of America, SecuGenCorporation, and Lockheed Martin Corporation. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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Fingerprint Access Control Product Outlook (USD Million, Thousand Units 2014 – 2024)
Fingerprint Access Control Application Outlook (USD Million, Thousand Units 2014 – 2024)
• Consumer Electronics
• Military & Defense
Fingerprint Access Control Regional Outlook (USD Million, Thousand Units 2014 – 2024)
• North America
• Asia Pacific
• Latin America
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