San Francisco, Nov. 16, 2015 (GLOBE NEWSWIRE) -- Global Fingerprint Access Control Systems Market size is estimated to reach USD 4.4 billion by 2022. Growing safety and security concerns of individual as well as organization is projected to drive industry growth. This system provides reliable access control, lessen fraudulent transactions and prevent security breach. Increasing industry competition is projected to propel the global demand. Organizations around the world are looking for robust security mechanisms by eliminating the use of passwords and adopting multimodal biometrics solutions as a means of authentication.
Capacitive products were valued at USD 696 million in 2014 and are expected to witness highest growth due to their compact dimensions as well as low cost. It is likely to reach at USD 1.3 billion by 2022. Optical products accounted for majority of the overall industry share in 2014. It is estimate to dominate the industry owing to its high quality image capturing capability and long life.
Significant use of smart phone is anticipated to drive demand for fingerprint access control systems market. Stringent government initiatives to secure borders, prosecute criminals, verify immigration and combat identity fraud or terrorism are likely to surge the industry. Colossal initial investment along with training and enrolling expenditures might hamper the industry demand. Healthcare industry is likely to exhibit considerable growth opportunities due to emerging application of this technology in access control for patient examinations and marking attendance
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Key report insights suggest:
- Global fingerprint access control systems market was valued at USD 2.5 billion in 2014 and it is likely to reach USD 4.4 billion by 2022, growing with an estimated CAGR of 7.4% from 2015 to 2022.
- North America accounted for 34.24% of industry share in 2014. It is anticipated to dominate the industry over the forecast period owing to its prominent applications in consumer electronics and healthcare sectors. Asia pacific fingerprint access control systems market was valued at USD 540.3 million in 2014 and is likely to grow at a CAGR of 8.1% from 2015 to 2022.
- Commercial application accounted for 34.4% industry share in 2014. The surge in the sector can be addressed to growing safety and security needs. Consumer electronics is forecast to witness significant growth and it is estimated to exceed USD 266.7 million by 2022.
- The fingerprint access control system industry is quite consolidated and consists of top three U.S. companies, Safran Group, 3M Cogent and NEC Corporation occupying major share. Other key market participants include Cross Match Suprema, Fingerprint Cards (FPC), Aware Inc, SecuGen, Daon Inc, Anviz Global and HID Global (Assa Abloy).
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Global Fingerprint Access Control System Product Overview (Revenue, USD Million, 2012 - 2022)
Global Fingerprint Access Control System Application Overview (Revenue, USD Million, 2012 - 2022)
- Consumer Electronics
- Military & Defense
- Banking & Finance
Global Fingerprint Access Control System Regional Overview (Revenue, USD Million, 2012 - 2022)
- North America
- Asia Pacific
- Latin America
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