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Modular Biometric Access Control Terminals Market Segments, Opportunity, Growth and Forecast By End-use Industry 2018-2028

01-10-2019 10:13 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

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Modular Biometric Access Control Terminals Market Segments,

Modular Biometric Access Control Terminals Market: Introduction

With the advancements in technology, a transitioning trend in access control systems has been witnessed, i.e. from manual lock access systems to electronic entry access systems and terminals. Out of the various electronic access control systems available in the market, modular biometric access control terminals are one of the most widely adopted access control systems.

Since their introduction, owing to advanced features and enhanced security, modular biometric access control terminals have witnessed adoption across all major industry verticals, such as commercial, residential, hospitality, government, healthcare, transportation, industrial, education, etc.

The modular biometric access control terminals market has witnessed considerable traction in the past four years, in terms of value. In addition to this, modular biometric access control terminals are further expected to exhibit a significant growth rate during the forecast period, owing to increasing growth opportunities in developing countries such as India, China, Mexico, Brazil, etc.

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Modular Biometric Access Control Terminals Market: Market Dynamics

The demand for a modular biometric access control terminals is being witnessed in correspondence to increasing crimes such as thefts and burglaries, across both, the commercial and residential sectors. In addition to this, the declining trend witnessed in crimes since the adoption and installation of modular biometric access control terminals is also a boosting factor for the growth of the global modular biometric access control terminals market, in terms of revenue. Besides this, the declining prices of modular biometric access control terminals, especially fingerprint modular biometric access control terminals, is also a factor supplementing the adoption rate of the same. Furthermore, the increasing adoption of modular biometric access control terminals in unexplored industry verticals such as healthcare and education is also a driving factor for the growth of the global modular biometric access control terminals market, in terms of value.

One of the recent trends witnessed in the global modular biometric access control terminals market is the increasing adoption of integrated biometric access control systems, i.e. single module offering multiple identification access entry options, such as fingerprint, palm, iris, hand, RFID, and smart card identification options.

However, the high cost associated with modular biometric access control terminals is considered to be a major factor challenging the adoption of the same across some countries. Besides this, the lack of availability of resources and infrastructural development for the implementation of modular biometric access control terminals across some countries is another factor hindering the growth of the global modular biometric access control terminals market.

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Modular Biometric Access Control Terminals Market: Segmentation

The global modular biometric access control terminals market can be segmented on the basis of type, end user, and region.

On the basis of type, the modular biometric access control terminals market can be segmented as:

Face Recognition
Fingerprint Recognition
Iris Recognition
Palm Recognition
Integrated Biometric Terminal
Others
On the basis of end user, the modular biometric access control terminals market can be segmented as:

Commercial
Residential
Industrial
Out of the above mentioned sub-segments of the modular biometric access control terminals market by end user segment, the commercial segment held a majority of the market share in 2017.

Modular Biometric Access Control Terminals Market: Key Players

Some of the key players in the modular biometric access control terminals market are IDEMIA, BioSec Group Ltd., ASSA ABLOY AB, Supema, Inc, Anviz Global, IdentyTech Solutions ltd., ZKTeco Europe, NEXT Biometrics, HID Global Corporation, and a few others.

Various players in the global modular biometric access control terminals market are focusing on expanding their product portfolios with the intention of catering to the varying demand of the end users, and to offer a seamless experience to the end users. For instance, in July 2018, BioSec, a modular biometric access control terminal provider, expanded its modular biometric access control terminal series ‘Triple” product line by adding a new device in the same series.

Modular Biometric Access Control Terminals Market: Regional Overview

By geography, the modular biometric access control terminals market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, Japan, SEA and Others in Asia Pacific, and Middle East & Africa. Among these regions, the North American market is expected to dominate the global modular biometric access control terminals market during the forecast period, owing to the presence of high crime rates, high adoption of technologically advanced products, and availability of resources for the implementation of modular biometric access control terminals in the region. Asia Pacific (including Japan and China) and Europe are expected to follow North America in the global modular biometric access control terminals market in terms of revenue. China is however expected to exhibit the highest growth rate during the forecast period in the global modular biometric access control terminals market, due to the increasing demand for advanced electronic devices, increasing regional economic growth, and high growth opportunities for modular biometric access control terminals in the country. Besides this, Latin America and MEA are also expected to witness considerable growth rates during the forecast period in the global modular biometric access control terminals market.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, end user, and type.

For more information on this report, please visit: https://www.factmr.com/report/1851/modular-biometric-access-control-terminals-market

About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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