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Fingerprint Access Control Market CAGR to reach 6.7% by 2024 Due Increasing Demand for Security Solutions – Market Trends

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Global Fingerprint Access Control Systems Market

The global fingerprint access control systems market is experiencing a major boost, due to the upsurging need for security and customer protection from identity theft, as cyber scams, spamming, and hacking are increasing. As the e-commerce industry is growing continuously, the number of cases against fraud, identity theft, and hacking are also increasing. The construction of infrastructures and buildings is a key driver for the growth of the global fingerprint access control systems market, as new infrastructure demands higher security. The increasing population and urbanization are some of the other drivers of the global fingerprint access control systems market. Various security control programs have been started by governments to reduce the number of identity theft cases. The government spending on biometric programs and equivalent systems is mainly driven by the national identity card programs and numerous electronic passport e-passport services in various countries. The increase in data security and integrity among mobile users are some of the major factors, responsible for driving the adoption of fingerprint access control systems in smartphones.

A user who is attempting to access a protected resource places his or her finger on a fingerprint sensor or reader at an access point, where the system has been integrated. The fingerprint is then, scanned by the sensor and the image is transmitted to a server, where it is compared with a warehouse of the stored fingerprints. If the print matches any of the stored print, the individual is granted access.

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During the forecast period, the government and commercial sectors are anticipated to be the major application segments. The banking & financial sector is adopting this technology for safeguarding access to crucial banking data and increase their security over mobile payments. Banks across the world are incorporating fingerprint biometric technology in their automated teller machine ATM to enhance security. The increased integration of fingerprint scanning technology in smart devices is expected to drive the growth of the consumer electronic application segment during the forecast period. The growing popularity of smart device with this technology is expected to drive the adoption of fingerprint access control systems across various applications. The requirement for tightening security in military & defense, border protection, and customs is also projected to fuel the market.

From the view of the region, North America and Europe have a larger market share in 2018 which together account for 51.17%, and will witness a stable growth in the following years. China holds a market share of 20.21% will still play an important role which cannot be ignored. Any changes from China might affect the development trend of Fingerprint Access Control Systems. Japan also play important roles in the global market, but it will witness the comparatively lowe growth rate within selected regions.

Crowdfunding campaigns have shown that there is plenty of scope for innovation. The world leading players in the Fingerprint Access Control Systems market are IDEMIA Safran Group, Kaba, BOSCH Security, Johnson Controls, NEC Corporation, HID Global, ZKTeco, DDS, Hitachi, Suprema Inc., Union Community Co. Ltd, HWabo, BioLink Solutions, Matrix Systems, SecuGen Corporation and so on. These Top companies currently account for more than 50% of the total market share and are expected to retain their dominating hold over the market during the forecast period. As consumer interest increases, this market will attract other major companies which want to extend their brand equity.

According to this study, over the next five years, the Fingerprint Access Control Systems market will register a 6.7% CAGR in terms of revenue, the global market size will reach US$ 2532.6 million by 2024, from US$ 1827.6 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in the Fingerprint Access Control Systems business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Fingerprint Access Control Systems market by product type, application, key manufacturers and key regions and countries.

This study considers the Fingerprint Access Control Systems value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

Optical
Capacitive
Ultrasonic
Thermal

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

Commercial
Residential
BFSI
Others

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.

America
APAC
Europe
Middle East & Africa
Rest of the World

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.

IDEMIA Safran Group
Kaba
BOSCH Security
Johnson Controls
NEC Corporation
HID Global
ZKTeco
DDS
Hitachi
Suprema Inc.
Union Community Co. Ltd
Hwabo
BioLink Solutions
Matrix Systems
SecuGen Corporation

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In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

To study and analyze the global Fingerprint Access Control Systems consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Fingerprint Access Control Systems market by identifying its various sub-segments.
Focuses on the key global Fingerprint Access Control Systems manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in next few years.
To analyze the Fingerprint Access Control Systems with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks.
To project the consumption of Fingerprint Access Control Systems submarkets, with respect to key regions along with their respective key countries.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.

Any special requirements about this report, please let us know and we can provide custom report.

Contact Info:

Name: Jennifer Daniel
Email-Id: [email protected]
US:  +1-716-2260907
UK: +447441952057
Organization: Planet Market Reports

Source: on 2019-06-25 03:07:30

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