Friday, 21 August 2015

Fingerprint Access Control Systems Market Size $4.41 Billion By 2022

The global fingerprint access control systems market is expected to reach USD 4.41 billion by 2022, according to a new report by Grand View Research, Inc. Increasing security threats have generated the need for efficient identification techniques. Strict government laws and regulations have been made to ensure internal and external security. Growing opportunities from niche segments and technology developments are expected to augment industry growth.

Consumer electronics applications such as cellular phones, PDAs and portable computers, and laptops are expected to boost revenue growth over the forecast period. Personal identification is crucial in the e-commerce sector to avoid security breaches and frauds.

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Biometric fingerprint technology can be implemented in a stand-alone manner or could be incorporated with smart cards, digital signatures, or other technologies. For example, in October 2014, MasterCard and Zwipe collaboratively launched a payment card with integrated biometric sensor.

Further key findings from the study suggest:
  • Optical, capacitive, pressure, ultrasonic, and thermal technologies dominate the market. Optical fingerprint access control was valued at over USD 900 million in 2014; it is expected to grow at a CAGR of 7.5% over the forecast period. These sensors are expensive but robust with longer life and high image quality. They are increasingly used for commercial applications, including secure login and identification.
  • Weapon activation and theft protection are also some applications of optical scanners. Capacitive fingerprint access control market is expected to be witness high gains owing to low cost and compact size, and increasing use particularly in smartphones and tablets.
  • The commercial fingerprint biometrics control systems market accounted for significant revenue share in 2014, valued at over USD 850 million in the same year. Government sector includes public sector units, law & order enforcement agencies, and prominent government buildings and institutions.
  • Investment in biometrics-enabled time and attendance tools are expected to experience increased demand over the forecast period. Mandates for security enhancement in government and law enforcement agencies will continue to encourage spending on biometric technologies and adopt government projects such as employee and national ID cards.
  • Asia Pacific biometric fingerprint readers market is anticipated to remain attractive on account of increasing government initiatives and consumer electronics demand. Additionally, promising economies, growth in foreign investments, untapped private security industry, rising business formation activities and high crime rates, are expected to contribute to Latin America and Asia Pacific growth.
  • Key players in the fingerprint access control market include Anviz Global, Cogent (3M), Cross Match Technologies Inc., Daon, Entertech Systems, ViRDI, and Hitachi, IDtech360, ManageID, NEC Corporation of America, Lockheed Martin, MorphoTrust, SecuGen, Safran Group, Suprema, and ZKTeco.
  • Consumer electronics manufacturers have been incorporating biometric sensors into their products. Samsung Electronics struck a deal with Validity Sensors (acquired by Synaptics) for manufacturing sensors for the Samsung Galaxy S5. In 2012, Apple Inc. acquired AuthenTec, and soon released its fingerprint recognition feature called TouchID on the Apple iPhone 5S and above.

Grand View Research has segmented the fingerprint access control market on the basis of technology, application and region:

Technology Outlook (Revenue, USD Million, 2012 – 2022)
  • Optical
  • Capacitive
  • Pressure
  • Ultrasonic
  • Thermal

Application Outlook (Revenue, USD Million, 2012 – 2022)
  • Commercial
  • Consumer Electronics
  • Government
  • Military & Defense
  • Banking & Finance
  • Healthcare
  • Others

Regional Outlook (Revenue, USD Million, 2012 – 2022)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

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