Optical Fingerprint Access Control System Market forecast to exceed $1.75bn by 2023

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Fingerprint Access Control System Market share to
grow at 7.2 CAGR from 2016 to 2023 Global
Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Fingerprint Access Control
System Market

• Growing number of security concerns among
  individuals and organizations will propel the
  fingerprint access control system market size.
  Large enterprises have adopted robust security
  mechanisms to eliminate the usage of passwords
  and implementing multimodal biometrics solutions
  as a means of authentication. These systems offer
  consistent access control, avoid security
  breaches, and minimize deceitful transactions.
• The customers with high-security needs are widely
  adopting biometrics to ensure the identity
  authentication of the individuals, giving a boost
  to fingerprint access control system market.
  Furthermore, they are keen on eliminating the
  need for smart cards to evade the associated cost
  such as loss, or defective cards.

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Continued...

• Key insights from the report include
• Capacitive fingerprint access control system
  market share will witness significant growth rate
  with nearly 7.5 CAGR estimation. In 2015,
  optical access control systems dominated the
  industry with over 35 of the overall share owing
  to high durability and quality image capturing
  features.
• Increasing adoption of electronic products
  such as personal computers, smartphones, and
  tablets will drive growth in the consumer
  electronics sector. These devices require an
  enhanced level of security features to protect
  their data, therefore, companies are increasingly
  integrating advanced security features, boosting
  the fingerprint access control system market
  share.
• Increasing need for secure identification
  and personal verification systems across BFSI
  applications will drive fingerprint access
  control system market demand.

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Continued...
Asia Pacific is anticipated to witness
significant growth at over 7.5 CAGR from 2016 to
2023 due to rising government initiatives towards
internal and external security in the attractive
regions such as China and India fingerprint
access control system market. Companies
operating in the fingerprint access control
system market include Crossmatch Technologies
Inc., 3M Cogent, Lockheed Martin Corporation,
SecuGen Corporation, Aware, Inc and NEC
Corporation of America. Daon Inc. Anviz Global,
ID Tech, Suprema Inc., Safran Group, Merkatum
Corporation, ZKTeco and Fingerprint Cards AB
(FPC) are among the other notable players.
Industry participants are focusing on frequent
acquisitions and new product developments
strategy to gain prominence in the industry. For
instance, in September 2016 Crossmatch announced
the launch of its ten-print sensing technology
that it is specifically developed to modernize
systems.
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Japan fingerprint access control system market
size, by technology, 2012-2023 (USD Million)

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Continued...

• Rising adoption of smartphone technology is
  forecast to propel growth, this is largely due to
  the growing security concerns regarding the data
  integrity among users. Furthermore, the
  integration of mobile wallet technology is
  providing lucrative opportunities for the
  fingerprint access control system market.
• Escalating demand for cloud-based biometric
  services is predicted to gain traction through
  the forecast time-period. This growth is
  attributed to the ability of the technology to
  deliver reliable and secure solutions. In
  addition, these cloud services deliver constant
  monitoring in comparison to other biometric
  solutions. Cloud-based biometric services are
  cost effective solutions for organizations as
  they require a huge cloud database to store user
  information. Increasing demand for advanced iris
  based or palm based authentication systems may
  hamper the fingerprint access control system
  market growth.

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360 Analysis

• Application Trends
• Consumer electronics applications are set to
  observe substantial growth at over 10 CAGR from
  2016 to 2023. Intensifying demand for high level
  of security to protect data across smartphones,
  tablets and computers will contribute to the
  segment growth. Personal identification to reduce
  privacy breach may also be an advantage for the
  fingerprint access control system market size.
  Moreover, increasing usage of cloud base services
  is expected to boost revenue.
• Regional Trends
• The presence of established players such as 3M
  Cogent, NEC Corporation of America and Cross
  Match is expected to boost the U.S. fingerprint
  access control system market. Rising penetration
  of solutions across healthcare and consumer
  electronics industries may boost the regional
  demand.
• Competitive Market Share
• Key industry players are 3M Cogent, Cross Match
  Technologies Inc., Lockheed Martin Corporation,
  NEC Corporation of America, SecuGen Corportaion,
  and Aware, Inc. Other prominent players include
  Anviz Global, Daon Inc., IDtech 360, Suprema
  Inc., Safran Group, Merkatum Corporation,
  Fingerprint Cards AB (FPC), and ZKTeco.

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