Optical Fingerprint Access Control System Market forecast to reach $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.
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Industry Overview

• 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.

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• 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.

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• 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.
• 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.

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Japan fingerprint access control system market
size, by technology, 2012-2023 (USD Million)

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