Fingerprint Access Control System Market in Consumer Electronics applications to grow at over 10% CAGR from 2016 to 2023

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Fingerprint Access Control System Market Global
Industry Analysis Report, Share, Size, Growth,
Price Trends and Forecast, 2016 2023
Fractovia.org
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Key Insights of Fingerprint Access Control
System Market

• Increase in proportion of criminal terrorist
  activities across the globe has created a great
  need for providing enhanced security to a wide
  range of applications in banking finance,
  healthcare, military defense, commercial,
  consumer electronics, and government sectors.
  These additional security measures are predicted
  to benefit the fingerprint access control system
  market over the coming years.
• Growing demand for security features in
  smartphones, personal digital assistants, and
  laptops are forecast to boost the industry
  revenue over the coming seven years. Moreover,
  the rise in technological innovations coupled
  with favorable government policies towards access
  control are expected to be the key drivers for
  the industry growth over the coming years. Other
  factors fueling the market expansion includes
  introduction of new communication technologies
  like 3G, Wi-Fi, and 4G.
• The fingerprint access control system market is
  anticipated to reach USD 4.76 billion by 2023,
  growing at a CAGR of 7.2 over the period of
  2016-2023.

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Continued

• Fingerprint access control system finds its
  applications in consumer electronics, government,
  military defense, commercial, banking
  finance, and healthcare industries. The
  commercial segment was the key application area
  of fingerprint access control system in 2015
  having contributed nearly 30 towards the global
  market share.
• The fingerprint access control system
  applications are predicted to witness a rise in
  this segment over the coming seven years due to
  growing demand for security safety. Its
  applications in the consumer electronics segment
  are forecast to grow at a CAGR of 10 over the
  period of 2016-2024 as electronic items such as
  smartphones, personal computers, and tablets
  require a high level of security features to
  protect their data. These systems also find high
  applications in the banking segment which
  requires high data security and data integrity.
• The fingerprint access control system market
  makes use of ultrasonic scanning, pressure,
  capacitive, thermal scanning, and optical
  scanning technologies to enhance safety features
  and provide security updates to counter malicious
  entry. The capacitive system segment is forecast
  to record a CAGR of 7.7 over the period of
  2016-2023 as the readers are reliable, compact,
  cost-effective, and can be easily embedded into
  small equipment.

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Continued

• The optical scanning system segment is predicted
  to surpass USD 1.75 billion by 2023 owing to its
  exceptional features such as durability and high
  image quality. The ultrasonic scanning system
  segment is projected to witness a significant
  surge over the coming years due to its ability to
  record fingerprint through a high sound frequency
  as a result of which it is expected to find
  applications in smartphones for measuring 3D
  fingerprint images.
• The Latin America fingerprint access control
  system market is predicted to witness a
  significant growth over the period of 2016-2023
  owing to increase in foreign capital investments,
  a rise in the rate of crimes, unexplored private
  security segment, and growing number of business
  formation activities. The Asia Pacific market is
  also projected to display a noticeable growth
  over the period of 2016-2023 as biometric system
  in countries like China and Korea do not match
  international standards. 
• The North America market is anticipated to
  witness significant growth over the period of
  2016-2023. The U.S. fingerprint access control
  system market size is forecast to exceed USD 1.3
  billion mark by 2023 and expected to contribute
  significantly towards the regional growth due to
  the increasing application of fingerprint access
  control system in healthcare and consumer
  electronics industries. The Europe market share
  is forecast to touch USD 1.12 billion by 2023.

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