The Fingerprint Sensors Market is expected to grow USD 3.48 Billion in 2021, it is expected to reach USD 6.20 Billion by 2028, growing at a CAGR of 8.60% during the forecast period 2021-2028 .
In a fingerprint detection device, one type of sensor is used: the fingerprint sensor. These devices are mainly found in fingerprint detection modules and are used to ensure the security of computers. The main features of the device are accuracy, superior performance and robustness, all based on proprietary biometric fingerprint technology. Instead of a passphrase, scanners and fingerprint readers are incredibly safe and security-friendly devices. Because the password is both easy to scan and hard to remember. Therefore, for verification, identification and authentication, it is best to use a USB fingerprint reader or scanner with biometric software that allows your fingerprints to work the same as words. digital passwords. Under no circumstances can these passwords be forgotten, lost or stolen. Additionally, according to a survey conducted by the Biometrics Institute in June 2021 of 360 respondents from around the world, 56% of European respondents agree with strict legislation regarding the use of biometrics. One of the main drivers for the expansion of fingerprint sensors is the growing penetration of smartphones equipped with fingerprint sensors. According to the counterpoint, in the first quarter of 2021, Samsung’s smartphone shipments were around 77 million internationally, while iPhone shipments were around 57 million globally.
Major Key Players of Fingerprint Sensor Market:
- Goodix (China)
- Shenzhen Goodix Technology Co. Ltd (China)
- ELAN Microelectronics Corp. (Taiwan)
- IDEX Biometrics ASA (Norway)
- Synaptics Incorporated (USA)
- EGiS Technologies Inc. (Taiwan)
- Qualcomm Technologies Inc. (USA)
- CrucialTec (South Korea)
- Apple Inc. (USA)
- FINGERPRINT CARDS AB (Sweden)
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Market Dynamics and Drivers:
The fingerprint sensor market is expected to grow due to the increasing adoption of fingerprint sensor-based biometric systems by businesses and government agencies to track employee attendance and measure hours of service. One of the most important benefits of fingerprint sensors for businesses is that no other employee can enroll as a proxy for other employees, thus preventing attendance fraud and allowing management track employee productivity. Also, fingerprint sensors are used in several schools and universities to track and verify student attendance. The increased use of fingerprint sensors in mobile devices for authentication and recognition of individual fingerprints is fueling the growth of the fingerprint sensors market over the projected period owing to qualities such as their unique nature, their precision and their resistance to change.
Fingerprint Sensors Market Report Highlights:
- By technology, ultrasonic segment is expected to dominate the fingerprint sensor market over the forecast period.
- According to the detection process, the 2D detection process is expected to increase at a significant rate due to its low cost and small size. Additionally, many OEMs are using 2D sensing in mobile phones for faster interpretation and scanning processes.
- By type, the touch segment of the fingerprint sensor market is going to hold the major share of the market during the forecast period owing to the ease of availability, favorable pricing, and small convenient shapes and sizes.
- Based on the applications, biometrics for digital locks and access granting systems is expected to hold the major fingerprint sensor market over the forecast period.
- According to End-User Industries, the consumer electronics segment is expected to hold the major share of the fingerprint sensor market. Rising demand for fingerprint sensors in PCs, laptops, mobile phones, tablets, and wearable devices is accelerating the growth of this segment.
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Industry key development:
In January 2022, to deliver biometric cards in Poland, Thales Group cooperated with Mastercard and Bank Pocztowy. The bank has started providing the cards to its customers under the agreement to enhance security and support remote transactions. Thales is also in charge of the design and development of the fingerprint card, as well as packaging and distribution.
In January 2022, IDEMIA’s MorphoWave contactless fingerprint terminals were released in a new generation. MorphoWave allows users to scan and confirm their four fingerprints in less than a second by simply waving their hands in a quick and easy motion.
Fingerprint Sensors Market Segmentation:
- Optical, Capacitive
By detection process
- Attendance registration
- Access controls
- Biometric system
- Digital locks
- biometric smart cards,
End user industries
- Consumer electronics
- travel and immigration
- Government and law enforcement
- Bank and finance
- smart homes
- Health care
- Defense and Aeronautics
For this report, Introspective Market Research has segmented the fingerprint sensor market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- The rest of Europe
- South Korea
- Rest of Asia-Pacific
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Rest of LATAM
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The report encompasses all of the market size analysis in previous years for major segments and countries, along with future estimates. The Fingerprint Sensors Market study takes an in-depth look at the competitive landscape of the global market. The study also provides the names of the major market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics, and drivers, as well as market analysis techniques such as PESTEL analysis, PORTER’s five forces analysis, value chain analysis, SWOT analysis, BCG matrix and Ansoff matrix.
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