Source: Global Market Insights, Inc
Ocean View, Delaware, Jan. 18, 2017 (GLOBE NEWSWIRE) --
The report “Fingerprint Access Control System Market Size By Application (Banking & Finance, Consumer Electronics, Commercial, Government, Healthcare, Military & Defense), By Technology (Capacitive, Optical, Pressure, Thermal, Ultrasonic), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, Japan, India, Mexico, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023”, by Global Market Insights, Inc. says Fingerprint Access Control System Market revenue is forecast to grow at 7.2% CAGR to exceed USD 4.5 billion by 2023.
Growing number of security concerns among individuals and organizations will propel the fingerprint access control system market size. Large enterprises have adopted robust security mechanisms to eliminate the usage of passwords and implementing multimodal biometrics solutions as a means of authentication. These systems offer consistent access control, avoid security breaches, and minimize deceitful transactions.
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The customers with high-security needs are widely adopting biometrics to ensure the identity authentication of the individuals, giving a boost to fingerprint access control system market. Furthermore, they are keen on eliminating the need for smart cards to evade the associated cost such as loss, or defective cards.
Rising adoption of smartphone technology is forecast to propel growth, this is largely due to the growing security concerns regarding the data integrity among users. Furthermore, the integration of mobile wallet technology is providing lucrative opportunities for the fingerprint access control system market.
Escalating demand for cloud-based biometric services is predicted to gain traction through the forecast time-period. This growth is attributed to the ability of the technology to deliver reliable and secure solutions. In addition, these cloud services deliver constant monitoring in comparison to other biometric solutions. Cloud-based biometric services are cost effective solutions for organizations as they require a huge cloud database to store user information. Increasing demand for advanced iris based or palm based authentication systems may hamper the fingerprint access control system market growth.
Browse key industry insights spread across 130 pages with 63 market data tables & 51 figures & charts from this report on fingerprint access control system market in detail along with the table of contents:
Key insights from the report include:
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Fingerprint access control system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2012 to 2023, for the following segments:
Fingerprint access control system market by product
Fingerprint access control system market by application
The above information is provided for fingerprint access control system market on a regional and country basis for the following:
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