Published Tue, May 3rd 2016
Fingerprint Access Control System Market Size By Application (Banking & Finance, Consumer Electronics, Commercial, Government, Healthcare, Military & Defense), By Technology (Capacitive, Optical, Pressure, Thermal, Ultrasonic), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, Japan, India, Mexico, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
Fingerprint Access Control System Market size is projected to generate revenue of USD 4.76 billion by 2023; as per a new research report by Global Market Insights, Inc. Multimodal biometrics based products have attracted popularity especially in e-IDs and passport verification systems. Integration of biometrics with consumer electronics particularly in smartphones has made the technology easily accessible for the public.
Increased security measures across a myriad of application areas have fueled the fingerprint access control system market. Smart homes are fitted with enhanced safety features; existing building retrofits are expected to offer security updates for countering malicious entry and theft.
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Conducive regulatory landscape includes national identification programs, border control, and e-passports projects being implemented worldwide. Other factors driving fingerprint access control system market size are proliferating smartphone demand, and expansion of communication technologies such as Wi-Fi, 3G, and 4G.
Technological innovation to bring down costs may help overcome the restraint of high capital requirements. Consumers are also skeptical of adopting these products due to data privacy and security concerns.
Key insights from the report include:
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