The developments in sensor technology are expected to propel expansion of the fingerprint sensors market over the next few years. Case to the point is the new feature of in-display finger sensors leveraged by smartphone makers is likely to boost sales of smartphones in the upcoming years. Increasing demand for smartphones is likely to drive market growth in the years to come.
Apart from smartphones, the technology finds application in other electronics and also across industry verticals such as travel & immigration, healthcare, defense, etc. Proliferating applications is anticipated to ensure an accelerated growth pace of the fingerprint sensors market in the nearby future
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Fingerprint Sensors are used in Biometric Fingerprint Recognition System used for security purposes in various sectors such as Police/ Investigation (to help them solve criminal cases), Immigration & Border Protection, in banking & organizations etc. to help make operations, transactions and everyday life both safer and more convenient. Evidently, growing online & offline security concerns worldwide account for the key driving force behind the growth of Biometric Recognition System that resultantly drive the demand for Fingerprint Sensors.
Market Research Future (MRFR)’s observation states that the global market is anticipated to mark 18.33% CAGR across the assessment period 2020 to 2023. The observation further asserts that the market is poised to value at USD 26.75 Bn by 2023 up from USD 13.19 Bn in 2020.
The segments of the global fingerprint sensors market, based on type, are area & touch sensors, swipe sensors.
Technology-based segmental assessment of the fingerprint sensors market covers capacitive, optical, and others.
The key application-based segments identified in this report on the global fingerprint sensors market are consumer electronics, travel & immigration, government & law enforcement, healthcare, and others.
Regionally, North-America accounted for the largest market share owing to the technological advancements, several opportunities in various sectors and increasing usage by the law enforcement agencies. However, the region will be handing over the supremacy to the APAC region in the future.
Attributing to the growing usage of biometric devices in organizations, and augmented uptake of the new technology in the region, Asia-Pacific will lead the Global Fingerprint Sensors Market with the largest market share
Whereas, North American & European market for Fingerprint Sensors are expected to grow at a substantial CAGR during the review period.
Apple (US), Fingerprint Cards (Sweden), Synaptics (US), Goodix (China), Egis Technology (Taiwan), IDEMIA (France), NEXT Biometrics (Norway), IDEX ASA (Norway), Anviz Global (US), and Gemalto (Netherlands) are few of the prominent participants of the global fingerprint sensors market. Some of the organic approaches expected to be utilized by these players to garner more market share in the coming years are product launch, portfolio development, technological innovations, research & development, etc.
Other players that constitute a considerable fraction of the global market are Cross Match Holdings Inc (US), VKANSEE Technology and Integrated Biometrics, Inc (US), Dermalog Identification Systems GmbH (Germany), Safran Identity & Security (France), 3M Cogent Inc (US), and NEC Corporation (Japan). Investments by the Fingerprint Sensor Market players in the regional expansion are anticipated to boost the competition among them over the next couple of years. In addition, the inorganic growth strategies projected to be leveraged by the players of the fingerprint sensors market are mergers & acquisitions, collaborations, agreements, etc.
In September 2019, a report has confirmed that Apple, a multinational technology company based in the U.S., is about to integrate in-screen finger sensors in its iPhone 12 which is to be launched in 2020.
In August 2019, Vivo Communication Technology Co. Ltd., a Chinese technology company, has announced the launch of its new handset, Vivo Z1X, in the Indian market. The product comes with an in-display fingerprint sensor.
Table of Content:
1. Executive Summary
2. Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3. Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4. Market Landscape
Continued. . .
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