The Fingerprint Sensor Market is projected to grow by 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 detecting device, one type of sensor is used: the fingerprint sensor. These devices are mostly found in fingerprint detecting modules and are used to keep computers safe. The device’s major features include accuracy, superior performance, and robustness, all of which are based on proprietary fingerprint biometric technology. Instead of a secret phrase, both fingerprint scanners and readers are incredibly safe and suitable devices for security. Because the password is both easy to scan and difficult to remember. Therefore, for verification, identification, and authentication, it is preferable to use a USB-based fingerprint reader or scanner with biometric software that allows your fingerprints to function similarly to digital passwords. These passwords can’t be forgotten, lost, or stolen in any way. Furthermore, according to a survey conducted by Biometrics Institute in June 2021 with 360 respondents from around the world, 56 percent of respondents from Europe agree with tight legislation around the usage of biometrics. One of the major drivers of the expansion of fingerprint sensors is the increasing penetration of smartphones with fingerprint sensors. According to counterpoint, in Q1 2021, shipments of smartphones from Samsung accounted for around 77 million internationally, whereas shipments of iPhones accounted for approximately 57 million globally.
Major Key Players for Fingerprint Sensor Market:
- Goodix (China)
- Shenzhen Goodix Technology Co. Ltd (China)
- ELAN Microelectronics Corp. (Taiwan)
- IDEX Biometrics ASA (Norway)
- Synaptics Incorporated (US)
- EGiS Technologies Inc. (Taiwan)
- Qualcomm Technologies Inc. (the US)
- CrucialTec (South Korea)
- Apple Inc. (US)
- FINGERPRINT CARDS AB (Sweden)
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Market Dynamics and Factors:
The fingerprint sensor market is expected to increase due to the increasing adoption of fingerprint sensor-based biometric systems by corporations and government agencies to track employee attendance and measure service hours. One of the most significant advantages of fingerprint sensors for businesses is that no other employee may register as a proxy for other employees, avoiding attendance fraud and allowing management to track employee productivity. Furthermore, fingerprint sensors are being used at several schools and universities to track and check students’ attendance. The increased use of fingerprint sensors in mobile appliances for authentication and recognition of individual fingerprints is fuelling the growth of the fingerprint sensor market during the projected period, thanks to qualities such as their unique nature, precision, and resistance to change.
Fingerprint Sensor Market Report Highlight:
- By Technology, the ultrasonic segment is expected to dominate the fingerprint sensor market in the period forecast.
- By Sensing Process, the 2D sensing process is anticipated to rise at a significant rate due to its low cost and small size. Furthermore, many OEMs are using 2D sensing in mobile phones for faster interpretation and scanning processes.
- By Type, the touch segment of the fingerprint sensors market is going to have the major share of the market in the period of forecast due to ease in availability, favorable prices, and small convenient shapes and sizes.
- By Applications, biometrics for digital locks and systems for granting access is anticipated to hold the major fingerprint sensor market in the period forecast.
- By End-User Industries, the consumer electronics segment is anticipated to have the major share in the fingerprint sensor market. The augmenting demand for fingerprint sensors in PCs, laptops, mobile phones, tablets, and wearables is hastening the growth of this segment.
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Key Industry Development:
In January 2022, To deliver biometric cards to Poland, Thales Group cooperated with Mastercard and Bank Pocztowy. The bank began providing the cards to its customers as part of this agreement to provide enhanced security and support distant transactions. Thales is also in charge of the fingerprint-enabled card’s design and development, as well as packaging and distribution.
In January 2022, MorphoWave contactless fingerprint terminals from IDEMIA have been released in a new generation. MorphoWave allows users to scan and confirm their four fingerprints in less than one second by merely waving their hands in an easy and rapid motion.
Fingerprint Sensor Market Segmentation:
- Optical, Capacitive
By Sensing Process
- Recording Attendance
- Access Controls
- Biometric System
- Digital Locks
- Biometric Smartcards,
- Consumer Electronics
- Travel and Immigration
- Government and Law Enforcement
- Banking & Finance
- Smart Homes
- Défense and Aerospace
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 U.S.
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Rest of LATAM
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Fingerprint Sensor Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and 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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