Industry Outlook and Trend Analysis
The Fingerprint Access Control Market was worth USD 2.22 billion in the year of 2012 and is expected to reach approximately USD 4.60 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 6.77% during the forecast period. Expanding requirement for security inferable from the expanding dangers of terrorist attacks is relied upon to add to the business development. A few government rules command the usage of identification technologies for foreign nationals, citizens, and employees to enhance national security. Government associations over the world are finding a way to enhance security in light of increased worries from the risk of terrorism over security of public. National governments have ordered substantial spending on safety efforts, positioning accentuation on the innovation to address mounting security issues. Such activities are anticipated to support market development over the estimate time frame. The technology of cloud computing is a developing pattern that takes into account the business requirement of a digitized economy. The innovation offers a few advantages, for example, data sovereignty, agility, deftness, and network-centric. Nonetheless, it offers some security dangers, for example, data intrusion and hacked passwords bringing about loss of individual data. Sending biometric innovation, for example, fingerprint address can resolve such issues by offering access control applications, smart spaces and mobile applications. Expanding requirement over the enterprises, for example, BFSI, healthcare and consumer electronics are anticipated to encourage the business development. While traditional security techniques, for example, credential or password have seen security vulnerabilities, for example, convenient to forge or stolen, undertakings and governments in locales including Asia Pacific tends to change to biometric identification systems because of high comfort and invigorated level of security.
Product Outlook and Trend Analysis
In 2015 the market was dominated by optical fingerprint access control, nonetheless, capacitive products are foreseen to encounter tremendous development over the estimate time frame. This can be extensively credited to the expansion being developed of electronic gadgets, for example, cell phones alongside the rising requirement for security. For example, cell phone organizations, for example, Samsung and Apple have begun inserting capacitive fingerprint sensors into their cell phones. Besides, these items are financially feasible when contrasted with the alternative items.
Application Outlook and Trend Analysis
Consumer electronics is anticipated to be the speediest portion, developing in the upcoming years attributable to the expanding requirement for access control features in cell phones and tablets. Mobile installment choices, for example, Apple Pay, Alipay and PayPal have effectively joined the innovation. Additionally, producers are putting forth the innovation for mobile application engineers, for example, Samsung's SDK Pass and Apple's iOS 8. BFSI is gaining prominence and is projected to witness significant growth in the upcoming years. It is conveying the innovation for controlled access to fulfil the need for included security in the segment. The innovation offers secure and dependable framework for limited zones without the requirement for conventional tokens or security cards. Additionally, it gives more noteworthy adaptability, keeping up large amounts of security important to the business.
Regional Outlook and Trend Analysis
In 2015 the market was dominated by North America with a share of more than 34 percent. Nonetheless, Asia Pacific is foreseen to encounter significant development in the following years. Technological expansions supplemented by expanding requirement for recognition and secure validation of people crosswise over particular end-use enterprises are the aspects anticipated that would incite the territorial development. Besides, declining costs of fingerprint access control systems and sensors has prompted a general increment in its worldwide demand. Besides, Middle East and Africa is anticipated to witness critical development, which can be ascribed to unsteadiness in locales, for example, Iraq, Libya, Iran and Syria that features the requirement for high level of country security, observation and acquiring military insight. Expanding usage of fingerprint access control devices for safeguard and military has prompted the expanding appropriation of the innovation in the locale.
The leading players in the market are Aware Inc, Suprema Inc, SecuGen Corportaion, Safran Group, Cross Match Technologies Inc, Merkatum Corporation, Cogent Systems, NEC Corporation of America, SecuGen Corportaion and Lockheed Martin Corporation. Producers are contributing gigantically to create enhanced fingerprint technologies attributable to the strengthened fulfillment among players in the business. For example, in 2014 Fingerprint Cards (FPC) put over USD 55.2 million in Research and Development to create progressed biometric arrangements. Industry members are progressively concentrating on joint endeavors and vital associations with consumer electronics producers. Distributors, Suppliers, manufacturers are teaming up to improve and extend their item offerings, dissemination channel and picking up share of the market.
The global Fingerprint Access Control Market is segmented as follows :
Optical Fingerprint Access Control
Ultrasonic Fingerprint Access Control
Pressure Fingerprint Access Control
Capacitive Fingerprint Access Control
Thermal Fingerprint Access Control
Banking & Finance
Military & Defense
Rest of Europe
Rest of Asia-Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?