Fingerprint Access Control Systems Market: Latest Trends, Opportunity Assessment, Manufacturers Challenge Competitors, Key Growth Factors with Forecast 2024

Fingerprint access control systems are used to control and monitor access to a particular complex. These utilize the uniqueness of human fingerprints to keep out intruders and keep the respective area safe. Fingerprint patterns of authorized personnel are stored in the processing units of fingerprint accent control systems and used to find a match for the fingerprint being presented. Usage of fingerprint access control systems is increasing across the world due to the higher standard of security these provide.

Application of fingerprint access control systems is common in crucial sectors such as commercial, consumer electronics, government, military and defense, health care, and banking and finance. Demand for fingerprint access control systems is expected to increase in each of these application segments in the next few years, with the increasingly favorable regulatory scenario and rising usage of smartphones for business and monetary transactions expected to emerge as influential factors determining the trajectory of the market.

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The primary driver of the global fingerprint access control systems market is the increasing threat of crime and terrorism, which has led to many sectors initializing upgrades in their security infrastructure. Research into accurate identification and security systems has received significant funding, as it is the first step toward maintaining safety. This in turn has benefitted the global fingerprint access control systems market.
The increasingly favorable regulatory scenario governing access control systems has also augmented the global fingerprint access control systems market.

Application of fingerprint access control systems is the highest in commercial complexes; however, usage of these systems in government applications is rising. Fingerprint access control systems are being encouraged or outright mandated in other sectors such as finance and banking and consumer electronics. These sectors have the potential to drive the global fingerprint access control systems market in the near future.

Incorporation of fingerprint recognition in consumer electronics such as smartphones enables other sectors such as banking and ecommerce to design apps that can make use of this functionality. This is likely to act as a major driver of the global fingerprint access control systems market considering the rising popularity of devices such as smartphones and tablets.

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North America held the largest share of the global fingerprint access control systems market in 2015. Technologically advanced infrastructure and high awareness among the population about the need to maintain security are the key drivers of the fingerprint access control systems market in North America.

North America is likely to dominate the global fingerprint access control systems market during the forecast period. However, Asia Pacific and Middle East & Africa are expected to be lucrative markets in the next few years. Rise in demand for sophisticated authorization systems due to events such as the 2022 FIFA World Cup to be held in Qatar is anticipated to drive the fingerprint access control systems market in the Middle East.

Major players in the global fingerprint access control systems market are Cogent (3M), Diamond Fortress Technologies, Hitachi, Cross Match Technologies, Inc., and Anviz Global, among others.

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