Fingerprint Access Control System Market 2020 by Growth & Regional Forecast To 2023 | Anviz Global, Aware, Inc., M Cogent, Cross Match Technology, Daon Inc., Diamond Fortress Technologies, EnterTech Systems, Fingerprint Cards AB (FPC), Hitachi-Omron Termi

The Latin America fingerprint access control system market is predicted to witness a significant growth over the period of 2016-2023 owing to increase in foreign capital investments, a rise in the rate of crimes, unexplored private security segment, and growing number of business formation activities.

The Asia Pacific market is also projected to display a noticeable growth over the period of 2016-2023 as biometric system in countries like China and Korea do not match international standards. The North America market is anticipated to witness significant growth over the period of 2016-2023. The U.S. fingerprint access control system market size is forecast to exceed USD 1.3 billion mark by 2023 and expected to contribute significantly towards the regional growth due to the increasing application of fingerprint access control system in healthcare and consumer electronics industries. The Europe market share is forecast to touch USD 1.12 billion by 2023.

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The fingerprint access control system market makes use of ultrasonic scanning, pressure, capacitive, thermal scanning, and optical scanning technologies to enhance safety features and provide security updates to counter malicious entry. The capacitive system segment is forecast to record a CAGR of 7.7% over the period of 2016-2023 as the readers are reliable, compact, cost-effective, and can be easily embedded into small equipment. Furthermore, these systems find myriad applications across healthcare, banking, entertainment, internet access, and consumer electronics industries as they help in preventing the fake enrollment.

The optical scanning system segment is predicted to surpass USD 1.75 billion by 2023 owing to its exceptional features such as durability and high image quality. The ultrasonic scanning system segment is projected to witness a significant surge over the coming years due to its ability to record fingerprint through a high sound frequency as a result of which it is expected to find applications in smartphones for measuring 3D fingerprint images.

The business sector will emerge as a major revenue generator, fueled by the demand for security systems in office buildings, schools, collages, and other areas. Fingerprint Access Control System Market for commercial applications contributed to more than 34% of the global share in 2015 and is set to witness tremendous growth over 2016-2023.
Extensive demand for data security in popular electronic items such as tablets, personal computers, and smartphones will catalyze fingerprint access control system market growth, with manufacturers striving to integrate security features in electronic products.

Banks and other financial organizations across the globe are incorporating high-end integrated technologies to mitigate security threats, avoid transaction frauds, and provide consumers with safe and secure account access. Adoption of biometric systems for personal identification and verification across the BFSI sector will be a major driving factor for Fingerprint Access Control System Market.

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Key participants include Lockheed Martin Corporation, Aware, Inc., 3M Cogent, NEC Corporation of America, Cross Match Technologies Inc., and SecuGen Corporation. Other contributors include Safran Group, IDtech 360, Anviz Global, ZKTeco, Merkatum Corporation, Fingerprint Cards AB, Daon Inc., and Suprema Inc.

Mergers and acquisitions is the key strategy adopted by industry players to diversify their product range and deal with the rising industry competition. Increasing budgets across the BFSI, military, and healthcare sectors coupled with technological innovations provide numerous business opportunities to companies.

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