Fingerprint Module Market Segmentation by Top Players, Type, and Application
11 June 2019, The global fingerprint module market is subject to witness a substantial growth due to the
growing demand for advanced security solutions and rising incidences related to
terrorist attacks. Stringent laws & regulations by regional governments to
mandate the adoption of identification technologies for citizens, employees,
and foreign nationals in order to enhance national security are expected to
favor market growth over the forecast period.
Additionally, numerous collaborative efforts are undertaken various
government to improve security in response to the threat of terrorism over
public safety. Globally, the market is predicted to grow at higher CAGR of
19.13% in the forecast period, providing numerous opportunities for market
players to invest for research and development in the fingerprint module
market.
In addition, increasing spending by local for
improvements in existing security infrastructure, positioning emphasis on the
technology is expected to favor market growth over the next seven years. Rising
competition in the market owing to the presence of large number of
manufacturers coupled with rise in the R&D operations to develop novel
products are anticipated to fuel the growth of the market in the upcoming
years.
Additionally, shifting trends towards adoption of latest
technologies including cloud computing, and next-generation mobile computing
for private enterprises are permanently changing the way an organization uses
information technology for distributing an information and piloting e-commerce,
thus propelling market growth in the recent years. Introduction of remote
service management and varied wireless technologies are expected to favor
market demand for fingerprint module. Increasing adoption of biometric security
services such as fingerprint recognition and face recognition systems to
provide secured financial transactions are anticipated fuel the growth of
fingerprint module market over the next seven years.
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| Fingerprint Module Market |
The market is broadly categorized into five major
segments based on the application type such as commercial sector, consumer
electronics, banking, financial & insurance sector, government sector and
military & defense sector. The consumer electronics is considered as one of
the fastest growing segment in the with substantial revenue generation in the
last few years. Growing popularity of fingerprint module in the consumer
electronics segment is attributed to the rising demand for access control
features in smartphones and tablets.
The market is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest technologies in
security sector, increase in the number of research & development
activities in the region, and existence of well-established industrial
infrastructure.
Asia-Pacific region is predicted to hold major market
share in the fingerprint module market with massive growth in forecast period.
Countries such as India, China, South Korea, Japan and Singapore are leading
the Asia-Pacific market with increasing security concerns due to terrorist
activities, strong economic growth, and significant investment by leading
industry players considering potential growth opportunities in the region.
The key players in the fingerprint module market are the
3M Company, Crossmatch Co., Fulcrum Biometrics LLC, NEC Co., Precise Biometrics
A.B., IDEX ASA, Suprema Inc., and ZKTeco Inc.
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