The fingerprint access control system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Fingerprint Access Control System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The fingerprint access control system market size has grown strongly in recent years. It will grow from $2.29 billion in 2023 to $2.48 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to workforce management, increased efficiency, cost reduction in biometric technology, security concerns, public awareness, and acceptance.
The fingerprint access control system market size is expected to see strong growth in the next few years. It will grow to $3.46 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to rising demand for contactless solutions, biometric identification in mobile devices, growth of smart cities and urbanization, cost reduction and scalability, customization, and personalization. Major trends in the forecast period include cloud-based solutions, mobile integration, integration with the Internet of Things (IoT), biometric encryption, multi-factor authentication (MFA), user experience enhancement, environmental adaptability, compliance, and privacy.
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Scope Of Fingerprint Access Control System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Fingerprint Access Control System Market Overview
Market Drivers –
The increase in robbery cases is expected to propel the growth of the fingerprint access control system market going forward. Robbery is a criminal act involving the unlawful taking of property or assets from a person or place through force, threat, or intimidation. Increased robbery rates can be attributed to various factors, including economic hardships, social inequality, and a lack of effective law enforcement measures. Fingerprint access control systems utilize the unique physiological characteristics of an individual’s fingerprint for authentication, which significantly reduces the risk of unauthorized access by intruders or robbers attempting to gain entry. For instance, in October 2023, according to the Office for National Statistics, a UK-based non-ministerial department, police recorded robberies rose by 11%, reaching 77,337 incidents, compared to the period ending June 2022, which had 69,432 incidents. Therefore, the increase in robbery cases is driving the growth of the fingerprint access control system market.
Market Trends –
Major companies operating in the fingerprint access control system market are focused on developing advanced products, such as outdoor biometric access control systems, to boost their revenue in the market. Outdoor biometric access control systems are security solutions that use biometric technology such as fingerprint, iris, or facial recognition to verify individuals’ identities before granting access to outdoor areas, buildings, or facilities. For instance, in October 2022, ZKTeco, a China-based biometrics company, launched the ProMA Series outdoor biometric access control systems. These high-end standalone terminals are designed specifically for outdoor use and feature ultra-robust aluminum alloy casings. They meet water and dustproof standards (IP66) as well as vandal-proof standards (IK07) and include three models with different authentication combinations ProMA (Face+Fingerprint+RFID), ProMA-QR (Face+QR code+RFID), and ProMA-RF (Face+RFID). These terminals have an impressive authentication template capacity, supporting up to 10,000 fingerprints, 30,000 faces, 5,000 palms, and 50,000 RFID credentials.
The fingerprint access control system market covered in this report is segmented –
1) By Product: Optical, Capacitive, Pressure, Ultrasonic, Thermal
2) By Components: Hardware, Software
3) By Applications: Consumer Electronics, Government, Commercial, Banking, Financial Services, And Insurance, Healthcare, Military And Defense, Other Applications
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Regional Insights –
North America was the largest region in the fingerprint access control system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fingerprint access control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the fingerprint access control system market are Lockheed Martin Corporation, Honeywell International Inc, Johnson Controls International plc, NEC Corporation, Hikvision Digital Technology Co. Ltd., IDEMIA, HID Global Corporation, ZKTeco Co. Ltd., Matrix Comsec Pvt. Ltd., Telos Corporation, Anviz Global Inc., Fingerprint Cards AB (FPC), Cross Match Technologies Inc., Daon Inc., 3M Cogent Inc., Accu-Time Systems Inc., BioEnable Technologies Pvt. Ltd., Aware Inc., Suprema Inc., BioLink Solutions, Merkatum Corporation, Hitachi Omron Terminal Solutions, SecuGen Corporation, Realtime Biometrics
Table of Contents
1. Executive Summary
2. Fingerprint Access Control System Market Report Structure
3. Fingerprint Access Control System Market Trends And Strategies
4. Fingerprint Access Control System Market – Macro Economic Scenario
5. Fingerprint Access Control System Market Size And Growth
…..
27. Fingerprint Access Control System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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