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Market research analysts at Technavio have predicted that the global fingerprint biometrics in the VAR (value-added reseller) market will grow steadily at a CAGR of almost 12% by 2020. The user credentials that organizations use to gain access to a system or an application are susceptible to security risks and has compelled organizations to start using SSO (single sign-on). In addition to increasing corporate security and reducing access control management costs, SSO also addresses issues of user convenience. Since vendors have started providing VAR software with SSO capabilities, it will lead to an increase in the demand for fingerprint biometric systems, especially in regions where the presence of biometric vendors is low.
This market study has identified that during 2015, government organizations were the major end-users of finger biometrics by VARs. The introduction of multimodal biometric systems will be one of the major trends that will gain traction in the market in the coming years. Multimodal biometrics is the integration of a number of biometric technologies such as fingerprint recognition, facial recognition, and voice recognition, and has found significance in several sectors such as healthcare, BFSI, transportation, automotive, and government. Owing to benefits like accurate and reliable recognition, increased level of security, and reduced vulnerability, multimodal biometric systems are likely to find application in several other sectors as well.
Characterized by the presence of several large and small scale biometric companies, vendor competition in the market is intense. The high level of vendor competition has induced companies to distinguish their services and product offerings through a clear and unique value proposition. Vendors have also started adopting M&A strategies to develop and expand their global reach and to strengthen product lines. The biometric fingerprint system market is currently at the growth stage, and its high growth potential is likely to attract many new players and VARs into the market.
The leading vendors in the market are -
Other prominent vendors in the market are AKSA Solution Development, AutoStar Technologies, Bayometric, Bromba Biometrics, California Peripherals and Components, Digital Data Systems, DYDEX-HS, and Eyenetwatch.
According to this market research and analysis, the non-AFIS segment will account for almost 90% of the total market share and will dominate fingerprint biometrics in the VAR market throughout the forecast period. Since non-AFIS systems facilitate secure employee monitoring, time and attendance management, and access control, they are widely used by enterprises. The rising adoption of non-AFIS technology in the automotive industry and its increasing implementation in public areas will have a positive impact on the growth of this market segment.
Owing to the increasing adoption of biometric fingerprints among end-users in the region, the Americas accounted for approximately 38% of the total market share during 2015. The growing need for security will lead to increased government spending on fingerprint biometric technology. Additionally, the rise in adoption of fingerprint recognition technology in airports for e-passports and visas will contribute to the growth of the biometric security systems industry in the next four years.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market description
PART 06: Market development
PART 07: Market landscape
PART 08: Role of VARs in fingerprint biometrics market
PART 09: Market segmentation by technology
PART 10: Market segmentation by end-user
PART 11: Geographical segmentation
PART 12: Market drivers
PART 13: Impact of drivers
PART 14: Market challenges
PART 15: Impact of drivers and challenges
PART 16: Market trends
PART 17: Product promotion strategy
PART 18: Vendor landscape
PART 19: Appendix
PART 20: Explore Technavio
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