CHICAGO, October 6, 2021 /PRNewswire/ — According to a research report “Fingerprint Sensor Market with Impact of Covid-19 by Technology (Capacitive, Optical, Thermal and Ultrasonic), Type (Area, Touch and Scan), Sensor Technology, Product, End-Use Application and Region – Forecast world until 2026″ , released by MarketsandMarkets™, the Fingerprint Sensors Market is estimated at $3.5 billion in 2021 and reach $5.8 billion by 2026; it is expected to grow at a CAGR of 10.9% over the forecast period (2021-2026).
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The extensive use of fingerprint sensors in consumer devices, the effective implementation of biometric time and attendance systems to calculate employee productivity, working hours and the like, and the high adoption of biometrics by governments around the world for enhanced security are key growth drivers. of the fingerprint sensor market. However, the threats relating to the biometric database are the major restraint hampering the growth of the fingerprint sensor market. On the contrary, the emergence of biometric smart cards in BFSI applications, the new trend of in-display fingerprint sensors in smartphones, and the increase in the adoption of fingerprint sensors in devices based on the IoT are likely to bring lucrative opportunities to the fingerprint sensor market. players between 2021 and 2026. Additionally, the growing use of facial recognition technology in payment, access and security, and criminal identification applications poses challenges to the fingerprint sensor market.
Ultrasonic Fingerprint Sensors is Expected to See the Highest CAGR for the Forecast Period
Ultrasonic sensors read the epidermal skin layer as well as a dermal skin layer, capturing the finest details. Therefore, these sensors can read wet fingers and fingers with torn skin or damaged skin. Advancements in sensing technology are expected to accelerate the growth of the ultrasonic fingerprint sensor market. In terms of size, Capacitive is the leading technology in the fingerprint sensor market; this is mainly due to its low cost and high consumer acceptance. Capacitive sensors can be very compact and used in mobile and wearable devices. Biometric smart cards, vehicle scanners, and smart locks are some of the emerging applications of capacitive fingerprint sensors, which would provide more growth opportunities for the capacitive sensor market. Optical technology is expected to hold the second largest fingerprint market share during the forecast period. The growing acceptance of in-screen scanners by end users and the user-friendly experience has prompted OEMs to implement in-display fingerprint sensors in smartphones. Thus, growing customer acceptance is encouraging OEMs to manufacture smartphones with in-display fingerprint sensor, which is propelling the growth of the market.
Surface and touch sensors will account for the largest market share during the forecast period
Surface and touch sensors are widely used in consumer electronics as these sensors provide a high degree of convenience and accuracy, thereby capturing a larger market share. Touch sensors are becoming smaller and more economical and convenient to use. OEMs prefer these sensors over swipe sensors, especially in mobile devices that require smaller sensors to achieve more compact products, as preferred by end users in the market. A few of the companies providing area and touch sensors include Synaptics (US), Fingerprints (Sweden), Apple (US) and IDEX (Norway). OEMs using touch sensors for smartphones include Samsung (South Korea), Apple (US) and Xiaomi (China)while companies providing scanners and fingerprint readers with touch sensors include SecuGen (US), HID Global (US) and Suprema (South Korea).
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2D fingerprint sensors are estimated to hold a significant share of the market
The 2D sensor technology market is expected to reach $5,407 million by 2026. 2D sensor technology is most suitable for performing sensing and ranging tasks. The technology remains a preferred choice for OEMs due to its low cost, especially in mobile devices that require smaller sensors, to produce miniaturized products preferred by end users in the market. However, the 3D fingerprint sensor market is expected to grow at a higher CAGR during the forecast period. 3D data provides the most accurate representation of a real fingerprint. FlashScan3D (US), Qualcomm (US) and TBS contactless biometric systems (Switzerland) offer 3D sensors for access control, time and attendance and other sensitive applications.
Consumer electronics end-use application expected to hold largest share in 2026
The consumer electronics application is likely to account for the largest fingerprint sensor market size in the coming years, primarily due to the increase in demand for these sensors in consumer devices such as smartphones, tablets, laptops and notebooks. Consumer IoT devices are expected to provide market opportunities over the forecast period.
Banking and finance is expected to be the fastest growing application over the forecast period owing to the increasing adoption of fingerprint sensors in smart cards used for payments. Several entities such as fingerprint sensor manufacturers, smart card manufacturers and card issuers across the value chain are taking initiatives to increase the adoption of biometric payment cards across the world. A few of the players include Fingerprint Cards, NEXT Biometrics, IDEX ASA, IDEMIA, Gemalto, Kona I, XH Smart, Goldpac, and issuers include AirPlus, Intesa Sanpaolo, Societe GeneraleMACU, and Banks in the Middle East. In April 2019the Royal Bank of Scotland (RBS) began its biometric payment card trial with customers in Scotland. The card is provided by Gemalto and uses Fingerprints’ T-shaped sensor module.
APAC is attributed to grow at the highest CAGR of the Fingerprint Sensors Market over the forecast period (2021-2026)
APAC dominates the fingerprint sensor market mainly because consumer electronics is the key application of fingerprint sensors, and APAC is the leading consumer electronics market. The main APAC countries are China, Japan, Indiaand South Korea. Major demand for fingerprint sensors is driven by OEMs based in China and South Korea. The main smartphone manufacturers in China include Huawei, Xiaomi, Oppo and Vivo, while Samsung, based in South Korea, is one of the market leaders in smartphones, which is accelerating the growth of the fingerprint sensor market in APAC. Other critical applications where fingerprint sensors are being adopted in APAC include banking and finance, government and law enforcement, and travel and immigration. Goodix (China), EGIS Technology (Taiwan), Q Technology (China) and CrucialTec (South Korea).
Main market players:
In 2020, the fingerprint sensor market was dominated by Goodix (China), Fingerprint Cards AB (Sweden), Synaptics (United States), Apple Inc. (United States) and Egis Technology (Taiwan).
Biometric System Market with COVID-19 Impact by Authentication Type (Single Factor: Fingerprint, Iris, Face, Voice; Multifactor), Offer (Hardware, Software), Type (Contactless, Contactless, Hybrid), Vertical and Region – Global Forecast to 2025
Mobile Biometrics Market By Component (Fingerprint Readers, Scanners, Cameras, Software), Authentication Mode (Single Factor (Fingerprint, Voice, Face, Iris, Vein, and Retina Scan) and Multifactor), industry and geography – global forecasts to 2022
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