The fingerprint is among the common biometrics used in numerous devices and application fields, so the demand for fingerprint sensors is rising. The number of intelligent devices, such as laptops, smartphones, tablets, and smart wearables per person, is increasing and is expected to increase in the upcoming years, incorporating fingerprint sensors. Also, facial recognition systems are increasingly becoming common in numerous devices, which assists in market expansion.
According to Data Bridge Market Research, the Global Fingerprint Sensor Market which was USD 3.50 billion in 2021, is expected to reach the value of USD 11.41 billion by 2029, at a CAGR of 15.92% during the forecast period.
" Increasing Penetration of Smart Phones Surge the Market Growth"
The penetration of smartphones is increasing substantially due to the growing influence of fast internet access, and with the initiation of 5G, smartphone penetration is anticipated to increase even further. As per GSMA, the number of smartphone subscribers in North America is anticipated to reach 328 million by 2025. Additionally, the region may witness an increase in the penetration rates of mobile subscribers (86%) and the internet (80%) by 2025. Furthermore, according to GSMA, Europe is expected to witness the highest internet penetration rate (82%) and smartphones (88%) by 2025. Thus, this factor boosts market growth.
What restraints the growth of the Global Fingerprint Sensor Market?
" Specificity of Fingerprint Sensors"
Fingerprint sensors don't work in all conditions. There is a lack of flexibility to detect the person in case of a wound or cut when fingerprints are filled with dirt or grease. Fingerprint sensors are very sensitive, which works in their favor only if the fingers are clean. Still, these sensors are inefficient in many industries, such as mining, construction, and manufacturing, which involve using materials that cannot keep the hand clean. All these major factors impede the growth of the market.
Segmentation: Global Fingerprint Sensor Market
The global fingerprint sensor market is segmented on the basis of type, technology, and application.
- On the basis of type, the fingerprint sensor market is segmented into swipe sensors, materials used in fingerprint sensors, area and touch sensors.
- On the basis of technology, the fingerprint sensor market is segmented into capacitive, optical, thermal and others.
- On the basis of application, the market is segmented into consumer electronics, travel and immigration, government and law enforcement, military, defense and aerospace, banking and finance, commercial security, healthcare, smart homes, other applications.
Regional Insights: North America is expected to dominate the Global Fingerprint Sensor Market
North America dominates the market to the prevalence of key major players in this region. The ever increasing demand for smartphone fingerprint sensors and the increasing penetration rate positively impact the fingerprint sensor market.
Asia-Pacific is expected to grow in 2022-2029 due to increasing mobile transactions in China and the government's initiatives. China is witnessing an increased mobile transactional volume which is expected to expand the market's growth.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-fingerprint-sensor-market
Recent Developments in the Global Fingerprint Sensor Market
- In 2022, IDEMIA launched a new generation of MorphoWave contactless fingerprint terminals. With this technology, users can wave their hands in an easy and quick gesture to have their four fingerprints 3D-scanned and confirmed in a time of just one second.
- In 2022, Thales Group collaborated with Mastercard and Bank Pocztowy to establish biometric cards in Poland. Under this partnership, the bank started launching the cards to its customers to deliver improved security and support distanced transactions. Additionally, Thales is responsible for designing and developing the fingerprint-enabled card, packaging, and also distribution of the same.
The Prominent Key Players Operating in the Global Fingerprint Sensor Market Include:
- Goodix (China)
- Synaptics (U.S.)
- Apple Inc. (U.S.)
- Crucialtec (South Korea)
- Qualcomm Technologies, Inc. (U.S.)
- Q Technology (China).
- CMOS Sensor Inc. (U.S.)
- ELAN Microelectronics (Taiwan)
- Focaltech (China)
- ID3 Technologies (France)
- IDEX Biometrics (Norway)
- Japan Display Inc. (Japan)
- OXI Technology (China)
- Sonavation Inc. (U.S.)
- Touch Biometrix (U.K.)
- Vkansee (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global fingerprint sensor market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Fingerprint Sensor Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
