BANGALORE, India, May 20, 2020 /PRNewswire/ — The global fingerprint sensor market size is valued at 2.910 Billion USD in 2020, and is expected to reach USD 5.1856 Billion by the end of 2026, rising at a CAGR of 8.5 percent in 2021-2026.
The introduction of fingerprint sensors in smartphones and other consumer electronics, government funding for the adoption of fingerprint sensors, and the use of biometrics in mobile commerce are the main drivers for the fingerprint sensor market’s growth.
The report offers an exhaustive geographical analysis of the global fingerprint sensors market, covering important regions, their market size, forecast, trends, and share. This report also analyses the impact of Coronavirus (COVID-19) on the fingerprint sensors market.
TRENDS INFLUENCING THE FINGERPRINT SENSOR TECHNOLOGY
- Widespread use by governments and law enforcement agencies of fingerprint sensor based biometric systems for improving security drives the growth of global fingerprint sensor market size. Furthermore, the growing adoption of biometric-based time and attendance systems in corporate and government organizations for measuring hours of service for workers and productivity supports market growth.
- Fingerprint sensors provide the authenticated user with fast, secure, and easy access to personal contact details, emails, payment information, location data, and other types of encrypted data. Sensors for fingerprints allow fast record keeping and control of portals for attendance. Compared with other biometric authentication systems, they are less costly. These factors further increase the growth of the fingerprint sensor market size.
- The growth of the fingerprint sensor industry is expected to increase the adoption of fingerprint sensors in smartphones to perform tasks such as unlocking phones & apps and make payments. Increased security & privacy issues in laptops, as well as OEMs’ efforts to deliver wearables with dynamic security features, are some of the key factors affecting market development. Continuous developments and innovation in fingerprint scanning technology also support market growth in consumer electronics.
- Due to the recent outbreak of the COVID -19 pandemic, where the virus is found to be spreading due to physical contact, the market for the fingerprint sensor is expected to face a stunted growth.
FINGERPRINT SENSOR MARKET SHARE ANALYSIS
- Capacitive technology is expected to hold the largest share for the fingerprint sensors market. It is primarily attributed to the growing use of capacitive sensors in products like iPhones, laptops, and other consumer electronic gadgets. In addition to consumer electronics, capacitive sensors are now found in modern vehicle applications such as door locks and launch engine operations. Low cost and strong customer adoption of a capacitive fingerprint sensor thus accelerate development for the demand of fingerprint sensors.
- Asia-Pacific is projected to dominate the market during the forecast period due to growth in the consumer electronics industry. The APAC countries already have a booming consumer electronics industry, with China alone manufacturing massive amounts of mobile phones each year. The retail and corporate adoption of biometrics systems, growing fraud incidents and maintaining safe access to physical and logical properties in commercial applications, increasing awareness among the masses about the benefits of using fingerprint sensing technology, and the cost-effectiveness of these sensors drive the growth of the APAC fingerprint sensor market.
FINGERPRINT SENSOR MARKET REGIONAL ANALYSIS
- North America
- Latin America.
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FINGERPRINT SENSOR MARKET SEGMENTATION
Fingerprint Sensor Market Segment by Type
Fingerprint Sensor Market Segment by Application
- Consumer Electronics
- Government & Law Enforcement
- Military, Defense, & Aerospace
- Travel & Immigration
- Banking & Finance
- Smart Homes
- Other Applications.
The major players in the market include
- Synaptics (US)
- Synaptics (US)
- Fingerprint Cards (Sweden)
- Goodix (China)
- IDEMIA (France)
- Egis Technology (Taiwan)
- NEXT Biometrics (Norway)
- Anviz Global (US)
- IDEX ASA (Norway)
- Gemalto (Netherlands)
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