Current Business Affairs Global Fingerprint Access Control Market 2018

Fingerprint Access Control Market Analysis by Product, By Application,
By Region &Segment Forecast To 2024
Market Definition:
The global fingerprint access control market size was valued at USD 2.50 billion in 2014 and is expected to grow steadily
with a growth rate of over 7% over the forecast period. Growing demand for security solutions globally is expected to
drive the market over the forecast period. Additionally, increasing adoption of IoT-based security systems and
technological advancements and deployment of wireless technology in security systems is further projected to spur the
market.
Increasing demand for access control solutions globally is considered to the major factor behind the market growth. The
technology growth can be directly associated to the development of the commercial sector and increasing security
concerns across the world. The developments in retail sector, banking & finance, and hospitality has led to the
implementation of the technology. Rising demand for the biometric solutions owing to the escalating safety and security
threats is further anticipated to benefit the market. The ability of the technology to offer reliable solutions for enhancing
access control and to eliminate transaction fraud and security breaches will spur the industry.
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Market Growth and Analysis:
Moreover, technological advancement and availability of progressive solutions for fulfilling the commercial and
government sectors may also boost the industry over the forecast period. Increasing government initiatives and
stringent norms for deploying biometric system will further supplement the market share over the forecast period.
Furthermore, the government projects such as national identification program and e-passports will also spur the market.
The fingerprint access control market is segregated based on product, application and region. The product segment
includes Optical, Capacitive, Pressure, Ultrasonic, and Thermal fingerprint access control system. Based on application,
the market is categorized into Commercial, Consumer Electronics, Government, Military & Defense, Banking & Finance,
Healthcare application segment.
Optical fingerprint access control system segment holds the major share
The ability to offer high image quality and features such as low cost maintenance, physical resistance, high resolution,
easy integration and large sensing areas is projected to further contribute to maintain the dominance of optical in the
industry over the forecast period. Capacitive fingerprint access control system is anticipated to witness substantial
growth over a CAGR of 7% owing to the low cost and compact sizes. The implementation of technology in various
application sector such as healthcare, banking, internet access and entertainment for preventing fake enrollment will
also boost the market growth.
Market Segment: