Embedded Fingerprint Module for Physical Access Control Market Size, Share, Growth, And Industry Analysis, By Type (Capacitive Fingerprint Module, Optical Fingerprint Module) By Application (Access Control System, Time Attendance, Door Lock, Safe Box, Others) and Regional Forecast to 2028

Updated On: 13 November 2023

Report Overview

• 

• Request a Free Sample to learn more about this report

The global embedded fingerprint module for physical access control market size 313.4 million in 2022. As per research the market is expected to generate 525.6 million by 2028 with a CAGR of 9.0% during the forecast period 2022-2028. The global COVID-19 pandemic has been unprecedented and staggering, with the Embedded Fingerprint Module for Physical Access Control market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A module called the Embedded Fingerprint Module is utilized to finish the fingerprint gathering and identification process. A fingerprint acquisition module, a fingerprint identification module, and an extended function module make up the majority of the fingerprint module. A biometric system is a digital technique of verification that uses a person's unique physical traits to confirm or validate their identity. To verify a user's identity, this system analyses their distinct biometric traits, including their voice, iris, face, fingerprint, and vaginal pattern. These traits immediately identify or validate the person. The system's authentication process is made more secure by the addition of a biometric scan. In order to increase the system or enterprise's security, special biological traits are applied.

Biometric systems are becoming increasingly important to daily security. These distinctive identity traits of people may be used as passwords for phones, laptops, and computers as well as to enter buildings and rooms. Once this biometric information has been scanned, it is then saved for use in matching processes in subsequent tries. Most of the time, biometric information is encrypted and saved on a distant server or directly on the device. Hardware used to scan and collect all biometric data for identification and verification includes biometric scanners and sensors. A trustworthy digital identification service platform for all consumer electronic devices is a biometric system.

COVID-19 Impact: During The Pandemic, declining Demand For Advanced Authentication Systems Driven Market Growth

The coronavirus pandemic had some negative effects on the biometric system business, similar to those that were seen by other industry sectors. In 2020, the COVID-19 epidemic has an inescapable effect on daily life. The touch-based time and attendance system was suspended in all commercial and governmental offices as a direct result of the COVID19 outbreak. The increasing use of masks, social distance, and refraining from touching metal and other surfaces in public settings are examples of behavioral changes that have a detrimental effect on fingerprint-based biometric authentication systems. Due to stringent laws prohibiting the use of face masks in public areas, it also had an influence on facial recognition systems.

Latest Trends

"Biometric Reader Will Control the Majority of the Market"

To assess access authorization, biometric readers collect physiological or behavioral data. These include speech recognition, signature dynamics, hand/finger geometry, vein geometry, iris recognition, and fingerprint and voice recognition. The term "biometric authentication" in the context of the Biometric Access Control system refers to the identification of people based on their physical distinctiveness.

Segmentation

• 

• Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be segmented into capacitive fingerprint module, optical fingerprint module. capacitive fingerprint module is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into access control system, time attendance, door lock, safe box, others. access control system will be dominating segment.

Driving Factors

"Rising Crime Rates Will Increase Demand for Security and Surveillance, Driving Market Growth"

Biometric technology was initially used to strengthen security and confirm a criminal's identification. Biometric features including iris, voice, fingerprint, signature, DNA, hand geometry, and vein patterns were mostly scanned to identify offenders. Putting up biometric systems is mostly done to lessen crime and terrorist attacks. With the use of biometric technology, millions of criminal cases have already been resolved. Using biometric technologies for surveillance is another option. In a CCTV equipment, a face recognition system is implemented, which records and retains the facial features of people the camera captures. Then, with the use of this information, criminals involved in any crime or terrorist action may be located and verified. Growing use of technology-based CCTV cameras in developing nations like India, China, and Japan is fueling the expansion of the biometric system market during the next years.

"Market Growth Will Be Driven by Increased Demand for Biometric Technology for Authentication in Retail and E-Commerce"

With a strong emphasis on the supply chain, biometric technology is an emerging technique to enhance the customer experience throughout the projection period. Due to rising customer demand for contactless solutions, COVID-19 saw a surge in the use of biometric technologies. Consumers are continuing to utilize touchless biometric technology due to rising hygiene awareness. For instance, a poll conducted in April 2020 by the Strawhecker Group and the Electronic Transactions Association revealed that 27% of small and medium-sized firms had concentrated on contactless card payments and mobile wallets since the COVID-19 epidemic had begun. These contactless biometric-based payment cards authorize biometric payments by requiring users to confirm their identification using previously saved data to validate their face or fingerprint. Biometric payment cards use fingerprints and chip technologies to verify the identification of the cardholder. The biometric information of the customer is safely preserved. In order to increase the security of card payments, fin-tech businesses are increasingly using biometric payment cards. Additionally, the market is driven by the usage of biometric technology in the retail and e-commerce sectors, which is driven by the rising incidence of fraud and phishing.

Restraining Factors

"Industry Growth Will Be Limited Due To High Initial Biometric Device Investments"

In many different industry sectors, there is a considerable need for biometric recognition systems. However, face recognition-based security systems and iris identification devices are far more expensive than traditional security systems when it comes to facial, iris, and vein biometry. The cost of the components used in face recognition systems, such as transmitters, scanners, and sensors, drives up the overall cost of biometric recognition systems. Additionally, SME businesses and individual users cannot afford to replace their current security systems, such as traditional CCTV cameras, with modern biometric technology-based cameras. Additionally, biometric verification-based card payment systems are extremely costly and challenging to implement. Additionally, a biometric verification-based card payment system is very expensive and difficult to implement in nations like China and India with extremely dense populations. Additionally, the potential for data leakage and worries about data privacy may impede the market's expansion on a worldwide scale.

Regional Insights

• 

• Request a Free Sample to learn more about this report

"Asia Pacific region Will Be Significant in Market Growth"

Several governments and security agencies are forced to improve security features in their transactions by implementing radio-frequency identification (RFID) and biometric technology because to the rise in cyber and malware threats in the area. As a result, this is assisting in the market for access control's overall expansion. Additionally, India plans to issue its residents an e-passport containing RFID chips in January 2022, according to the Ministry of External Affairs. The Indian government will utilize both RFID and biometrics in its passports. The offered e-passport will feature a chip with security-related information inserted in its jacket. Additionally, China has been dominating the market for the past few years, and it is projected that it will do so essentially unchanged during the projection period. China has also been the market leader for the past few years, and it is anticipated that it will remain in that position throughout the forecast period. This is largely due to the growing construction sector, which is combined with the existence of a sizable number of manufacturing industries and a rising crime rate. Over the following several years, demand would also expand due to the country's growing use of mobile-based access control systems.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• IDEMIA (France)
• HID Global (U.S.)
• Fingerprint Cards (Sweden)
• CamaBio (U.K.)
• Suprema (South Korea)
• NEXT Biometrics (Oslo)
• Nitgen (South Korea)
• Primax (Taiwan)
• Miaxis Biometrics (China)
• SecuGen Corporation (U.S.)
• Aratek (Taiwan)
• Union Community (South Korea)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.