Consumer electronics and payment cards to propel $ 5.8 billion fingerprint sensor market: report

0


Markets and Markets expects modest growth in fingerprint sensor market In the coming years. The company expects a 10.9% CAGR as the market grows from $ 3.5 billion in 2021 to $ 5.8 billion in 2026.

This remains true despite the impact of COVID-19, which has disrupted supply chains and pushed people towards more sanitary contactless solutions. In this regard, MarketsandMarkets noted that fingerprint sensors are now in competition with facial recognition cameras in industries such as payments and security.

However, the demand for fingerprint sensors will remain high in consumer IoT devices such as smartphones and tablets, and in the next generation of smart payment cards. The expansion of IoT will ultimately create new opportunities for sensor manufacturers, as more and more equipment developers integrate biometric technologies into their product lines.

Fingerprint sensors will also be popular in the government sector and in biometric time and attendance tracking systems. Unfortunately, there are concerns about the integrity of fingerprint databases, which could slow the deployment of some fingerprint systems.

Capacitive sensors will be the most common type of sensor, although demand for ultrasonic sensors will increase at a faster rate, the report predicts. Capacitive sensors will be more popular because they are both cheap and compact, making it easy to deploy them in a portable device with a small form factor. These sensors should appear in biometric payment cards, while optical in-display fingerprint sensors will become the go-to option in most smartphones. This use case will make optical sensors the second most popular type of sensor.

Likewise, the consumer electronics market will push the demand for surface and touch sensors beyond the demand for scanning sensors, in large part because touch sensors are able to provide a high level of accuracy in a smaller and cheaper case. Many of these consumer devices will be sold in the Asia-Pacific region, which will be the largest segment of the overall fingerprint sensor market. Finally, the 2D sensor market will be larger than the 3D sensor market, although the latter will show a higher CAGR.

MarketsandMarkets has listed Goodix, FPC, Apple, Synaptics and Egis among the biggest players in the fingerprint sensor industry, although companies like IDEX and Suprema were mentioned in some sectors. The forecast for 2021 is down slightly from MarketsandMarkets’ 2020 report, which suggested that the fingerprint sensor market would reach $ 6 billion in 2025.

October 8, 2021 – by Eric Weiss


Share.

Leave A Reply