Fingerprint Access Control System Market size forecast to be valued at USD 4.76 billion by 2023

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Fingerprint access control system market size
forecast to witness growth at 7.2 from 2016 to
2023 to be valued at USD 4.76 billion by 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

• Capacitive systems are forecast to grow at a CAGR
  of 7.7 from 2016 to 2023. This technique makes
  the reader reliable as it is more difficult to
  fake enrolment.
• Optical fingerprint scanners market is likely to
  exceed USD 1.75 billion by 2023. These products
  are expensive however, this is offset by factors
  such as high image quality, longer life, and
  robustness.
• Ultrasonic scanning technique records fingerprint
  by very high frequency sound and is expected to
  be used in smartphones to measure 3D fingerprint
  images. Thermal scanning measures temperature
  differences over time as the finger is moved
  across a narrow array of sensors.

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Continued

• Government and commercial sectors dominated
  fingerprint access control system market share in
  2015. Consumer electronics applications had a
  small revenue base, but are forecast to grow at
  over 10 CAGR over the forecast timeframe.
  Growing personal electronics industry that
  includes smartphones, tablets, and PCs is
  responsible for high estimated growth.
• Europe fingerprint access control system market
  size is projected to reach USD 1.12 billion by
  2023. Growing biometrics incorporation in
  healthcare and consumer electronics is estimated
  to propel the U.S. and Asia Pacific industry.
  Other drivers include untapped private security
  sector, rising business formation activities, and
  high crime rates. Mandates for security
  enhancement in government and law enforcement
  agencies will continue to encourage spending on
  biometric technologies.
• Notable participants comprise NEC Corporation, 3M
  Cogent, HID Global, Safran Group, Suprema, etc.
  Service providers have expanded product portfolio
  beyond security solutions to ensure applicability
  in the consumer sector.

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

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360 Analysis

• Application Analysis
• Consumer electronics is projected to be the most
  attractive application area, with growth
  prospects of over 10 over the forecast period.
  Increasing trend for more than one device per
  subscriber and enhanced functionality in mobile
  devices is expected to contribute to segment
  growth.
• Regional Analysis
• U.S. fingerprint access control system market
  share is predicted to surpass USD 1.3 billion by
  2023. Growth in foreign investment, untapped
  private security sector, rising business
  formation activities, and high crime rates are
  expected to contribute to Latin America and Asia
  Pacific industry growth.
• Competitive Market Share
• Players in the industry practice high degree of
  innovation and customization to provide unique
  solutions to existing and potential customers.
  Service providers have not restricted themselves
  to security solutions but are exploiting
  implementation of the technology in day-to-day
  consumer applications.

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