The fingerprint access control market is going to grow considerably over the next several years, according to a new report from Grand View Research. The market research firm predicts it will reach a value of $4.41 billion by the year 2022.
In a synopsis, the firm cites government security measures and consumer electronics applications as the main drivers of the global fingerprint access control market. In the case of the latter, the increasing adoption of fingerprint scanning technology in personal mobile devices offers a major revenue boost, especially as user authentication becomes “crucial in the e-commerce sector”, which presumably includes the growing field of mPayments.
The report notes that optical, ultrasonic, capacitive, thermal, and pressure sensors are the dominant technologies in the market, with optical in the lead, valued at $900 million last year and expected to undergo annual growth of 7.5 percent (CAGR) until 2022. Strong growth is also expected in the areas of biometric time and attendance systems, biometric access control for sensitive government facilities, and various government initiatives and consumer electronics applications in the Asia Pacific region, as well as Latin America.
(Originally posted on FindBiometrics)