Fingerprint Access Control Systems Market Growth & Trends
The global fingerprint access control systems market size is expected to reach USD 9.80 billion by 2030 and grow at a CAGR of 12.6% from 2024 to 2030. Technological proliferation backed by increasing need for secure authentication and recognition of individuals across distinct end-use industries are the factors expected to impel fingerprint access control market growth over the forecast period. Moreover, declining prices of fingerprint technology has led to an overall increase in its global demand.
Favorable government initiatives and standards worldwide is expected to contribute to the industry growth over the forecast period. The governments across several countries have formed regulations governing the usage, gathering and disposal of biometric information by entities, however the affluence of these laws varies extensively over regions. For instance, in the U.S. state of Illinois with its Illinois Biometric Information Privacy Act, 740 ILCS 14/1, et seq. and Texas with its Bus. & Com. Code Ann. § 503.001 strictly regulate the use, revelation, and the final destruction of biometric data by a private entity. The state of Illinois compels such entities to develop written policies describing their biometric data collection methods.
Use of fingerprint access control in government and commercial sector has contributed immensely to industry growth. Need for security is one of the key factors driving market demand. Multimodal biometrics based products have enticed popularity specifically in passport and e-IDs verification systems.
Fingerprint Access Control Systems Market Report Highlights
- Optical accounted for the largest market revenue share of 37.2% in 2023 owing to the rising need for enhanced security systems in sectors such as banking, government and healthcare.
- The electronics segment dominated the market with 23.5% in 2023. Significant growth is being witnessed in the commercial electronics sector, driven by the rising need for advanced security systems across different industries.
- North America fingerprint access control systems market dominated the global market with 36.1% share in 2023 due to the growing need for high-tech security systems in both business and home environments.
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Fingerprint Access Control Systems Market Variables, Trends, & Scope
Chapter 4. Fingerprint Access Control Systems Market: Technology Estimates & Trend Analysis
Chapter 5. Fingerprint Access Control Systems Market: Application Estimates & Trend Analysis
Chapter 6. Fingerprint Access Control Systems Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
- 3M Cogent, Inc
- IDEMIA
- BOSCH Security
- Johnson Controls Inc.
- NEC Corporation
- HID Global Corporation
- Hitachi, Ltd.
- Suprema Inc.
- UNIONCOMMUNITY Co., Ltd
- Matrix Systems
- Lockheed Martin Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 4.29 Billion |
| Forecasted Market Value ( USD | $ 9.8 Billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
