Overview and Scope
A fingerprint access control system is a security measure that uses biometric authentication to verify a person’s identity based on their unique fingerprint patterns. It restricts access to authorized individuals and is commonly used in workplaces, government facilities, and high-security areas. The system scans fingerprints, compares them to a database of authorized prints, and grants or denies access accordingly.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the fire control system market are Raytheon Technologies Corporation, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems, Inc., Johnson Controls International plc, Safran SA, Thales S.A., L3Harris Technologies, Inc., Leonardo S.p.A., Rheinmetall AG, Elbit Systems Ltd., Israel Aerospace Industries Ltd. (IAI), Saab AB, Indra Sistemas, S.A., Halma plc, Bharat Electronics Limited, ASELSAN Elektronik Sanayi ve Ticaret A.S., Ultra Electronics Holdings plc, Hochiki Corporation, United Technologies Corporation, Yamato Protec Corporation, Seiler Instrument & Manufacturing Company Inc., Wilcox Industries Corp.
The fingerprint access control system market report table of contents includes:
1. Executive Summary
2. Fire Control System Market Characteristics
3. Fire Control System Market Trends And Strategies
4. Fire Control System Market – Macro Economic Scenario
5. Global Fire Control System Market Size and Growth
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31. Fire Control System Market Other Major And Innovative Companies
32. Global Fire Control System Market Competitive Benchmarking
33. Global Fire Control System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fire Control System Market
35. Fire Control System Market Future Outlook and Potential Analysis
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