Fingerprint Access Control System Market Analysis

Fingerprint Access Control System Market Analysis

Optical fingerprint access control system market size is expected to cross over USD 1.75 billion by 2023 as it offers high image quality. Moreover, it offers features such as physical resistance, low cost maintenance, easy integration, high resolution, and large sensing areas that is expected to increase the revenue share over the future. Advancement in technologies will further augment the growth over forecast timeline. For instance, Synaptics announced optical based fingerprint sensors for smartphones.
 

Capacitive fingerprint access control system market share is anticipated to witness substantial growth at over 8% CAGR owing to compact sizes and low cost. This can be attributed to the ability of the capacitive fingerprint access control to get embedded into small devices and cost-effective nature. Moreover, it may also witness high adoption across various application such as banking, healthcare, entertainment, and internet access as it prevents fake enrollment. Ultrasonic is anticipated to witness considerable growth over forecast period as it records fingerprint through high sound frequency and found application in smartphones.
 

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.
 

Commercial applications accounted for over 34% of the overall fingerprint access control system market share in 2015. The growth is expected to continue over forecast period due to increase in demand for security and safety across the business sector. Ability to control the entrance and exit across office premises, school, areas and floors may escalate the adoption rate.
 

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. Technological advancements and rising budgets across military & defense, and banking & financial sectors offer ample opportunities to industry players.
 

Asia Pacific is predicted to witness significant growth at over 8% CAGR due to fast growing China fingerprint access control system market size. Rising security concern and crime threat may drive the market growth in the coming years. Moreover, increasing government initiatives also provides tremendous growth opportunities for industry growth.
 

Brazil fingerprint access control system market share is also to witness significant growth opportunities from 2016 to 2023 owing to rising crime rates. Moreover, increasing business activities and unexplored security segment will also contribute to industry growth.