Fingerprint Access Control Systems Market is expected to reach USD 11.88 billion by 2024. Fingerprint access control systems is a biometric access control system that allows an enhanced level of security than passwords or cards. It recognizes human beings through their physical uniqueness. The system reads the print of the finger and matches it against the stored image that has already been taken. The fingerprint access control systems market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.
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The key driving factors responsible for the growth of Fingerprint
Access Control Systems market :
The factors that are playing a
major role in the growth of the fingerprint access control system market are
the rising demand for biometric solutions, growing demand from end-users,
availability of innovative solutions and technological enhancement, and rising
crime and terrorist activities. However, developing palm and iris authorization
systems may restrain overall market growth in the years to come. Fingerprint
access control systems market is segmented based on product type, application,
and region.
Thermal, optical, ultrasonic,
capacitive, pressure, and other product types could be explored in fingerprint
access control systems in the forecast period. The optical sector accounted for
the substantial market share of fingerprint access control systems and is estimated
to continue its dominance in the years to come. The reason behind the overall
market growth could be the rising use of electronic devices like smartphones.
In addition, the capacitive sector is estimated to grow at the highest CAGR in
the years to come.
The market may be categorized
based on applications like healthcare, commercial, banking & finance,
consumer electronics, military & defense, government, and others could be
explored in the forecast period. Commercial sector accounted for the significant
market share of fingerprint access control systems and is estimated to lead the
overall market in the years to come. The reason could be rising demand for
safety and security across the business sector. Also, the consumers electronics
sector is estimated to grow at the fastest pace in the years to come.
Globally, North America accounted
for a substantial market share of fingerprint access control systems and is
estimated to lead the overall market in the years to come. The reason behind
the overall market growth could be growing penetration of solutions across
consumer electronics and healthcare industries, high funding for banking &
financial and military & defense sector, and technological enhancement. The
United States is a major consumer of fingerprint access control systems in this
region.
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