Fingerprint access control system is a keyless entry system to a place or a resource. Fingerprint system reads the print of the finger and matches it to digital print image stored in database to allow access to authorized individual.
Increasing incidences of identity theft and security breaches across the globe are major factors driving growth of the global fingerprint access control system market. In addition, stringent government regulations and mandates has further boosted demand for fingerprint accesses control systems and solutions which are expected to further drive growth of the global fingerprint access control system market. Increasing adoption of fingerprint access control systems in various industries such as BFSI, healthcare, chemicals, etc. and also by commercial, government, and residential buildings are further fueling growth of the global fingerprint access control system market. Moreover, increasing adoption of fingerprint scanner by smartphones for various functions is further propelling growth of the global fingerprint access control system market.
Rising information vulnerability and data security concerns are key factors hampering growth of the global fingerprint access control system market. In addition, inability of system to identify specific person owing to faulty sensors, coupled with growing trend of multimodal authentication systems that use two or more step verification which includes iris recognition, face recognition, voice recognition etc. are some other factors expected to further hamper growth of the global fingerprint access control system market. Technological advancements to provide low cost and more secure access control systems may create lucrative opportunities for major players in the global fingerprint access control system market over the forecast period.
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The global fingerprint access control system market is segmented on the basis of technology, application, and region. On the basis of region, the global fingerprint access control system market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America dominates the global fingerprint access control system market in terms of revenue and is expected to maintain its dominance during the forecast period. This growth can be attributed to early adoption of technology and presence of major vendors in this region. The market in Europe is expected to witness moderate growth during the forecast period. The market in Asia Pacific is expected to witness significant growth and is projected to register a CAGR of X.X% over the forecast period. This growth can be attributed to rising incidences of identity theft and presence of key vendors in countries such as China, Japan etc.
Key players in the global fingerprint access control system market are Cogent Systems Inc., Cross Match Technologies Inc., NEC Corporation, Anviz Global, Daon Inc., Lockheed Martin Corporation, 360 Biometrics, SecuGen Corporation, Merkatum Corporation, Suprema Inc., and other prominent players.
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