About Fingerprint Lock
The biometric systems have overtime served as robust security mechanisms in many domains. Fingerprints are the most broadly used form of biometric identification. Electronic lock using fingerprint recognition system is a procedure of verifying the fingerprint image to open the electronic lock. Further, verification is completed by comparing the data of authorized fingerprint image with incoming fingerprint image. The proliferation of fingerprint lock in smartphones and other consumer electronics is driving the fingerprint lock market
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Fingerprint Lock market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Allegion (Ireland), Assa Abloy (Sweden), Dormakaba Group (Switzerland), Marsalock (Germany), Westighouse (United States), Anviz (United States), Honeywell (United States), Samsung Digital Door (Singapore), Archi hardware (China) and Keyu intelligence (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Adel Group (China), Dessmann (Singapore) and Dorlink (United States).
Segmentation Overview
AMA Research has segmented the market of Global Fingerprint Lock market by Type (Optical scanner, Silicon chips and Ultrasound), Application (Residential and Commercial) and Region.
On the basis of Type, Optical Scanner are dominating the market in the year 2023 where as Silicon Chips stood as second largest market share.
On the basis of application, Commercial segment is dominating the market in the year 2023 where as Residential segment stood as second largest market .On the basis of geography, the market of Fingerprint Lock has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Asia Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Material, the sub-segment i.e. Stainless Steel will boost the Fingerprint Lock market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing scope for fingerprint locks in the banking and finance industry
Market Growth Drivers:
The proliferation of fingerprint lock screen in smartphones and other consumer electronics and Government support for the adoption of fingerprint locks
Challenges:
Efficiency and reliability of fingerprint lock sensors
Restraints:
The trustworthiness of users for fingerprint lock
Opportunities:
New technological advancements in fingerprint locks
Market Leaders and their expansionary development strategies
On 28 June, 2018, Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has agreed to acquire ISONAS through one of its subsidiaries and On 19 Dec, 2018, ASSA ABLOY has acquired Luxer One, a leading advanced package locker solutions business in the US
Key Target Audience
Manufacturers of fingerprint lock, Suppliers of fingerprint lock parts, Wholesalers, distributers and retailers of fingerprint lock, Banking industry, Governmental bodies and Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.