ID: MRFR/SEM/0540-CR | February 2021 | Region: Global | 118 pages
Global Fingerprint Sensor Market is expected to grow at 13.27% CAGR, witnessing substantial growth during the forecast period. The market was valued at USD 3,490.6 Million in 2019; it is expected to reach USD 8,006.6 Million by 2026.
Fingerprint sensors capture biological features of the fingerprints in the form of the live scan and compare them with biometric templates stored in the database. They are used to provide authentication and authorization to the individual and are the most used biometric authentication systems for security in commercial spaces. Fingerprint sensors provide fast, reliable, and easy access to personal contact details, mails, payment information, location data, and other forms of encrypted data to the authenticated user. Fingerprint sensors facilitate easy record keeping and management to attendance portals. They are less expensive as compared to other biometric authentication systems. They are easy to install, and training can be provided to the people for using fingerprint sensors.
As per the study, Asia-Pacific accounted for the largest market share of 46.8% in 2018, with a market value of USD 1,505.2 Million; the market is expected to register the highest CAGR of 15.4% during the forecast period. North America was the second-largest market in 2018, valued at USD 772.8 million; the market is projected to exhibit a CAGR of 9.0%. The region includes the US, Canada, and Mexico. The region has a well-developed infrastructure and, therefore, can easily adopt technological advancements. Moreover, the influx of IoT and connected technologies have contributed to the growth of the fingerprint sensors market in North America. The US is the leading country in North America, accounting for the largest market share. In the US, product innovation and product development are expected to play a significant role in regional market growth. The country is considered the industrial capital of the world due to the presence of large manufacturing companies. Currently, few businesses in the US have adopted industrial digital technologies to gain greater productivity and efficiency. The small and medium-sized enterprises of the market have only recently started adopting this technology.
Global Fingerprint Sensor Market, By Application (2019 Vs 2026)
Source: MRFR Analysis
Global Fingerprint Sensor Market is segmented into Type, Technology, Application, and Region. By type, the market has been bifurcated into area & touch sensors and swipe sensors. The area & touch sensor segment accounted for the larger market share of 68.5% in 2018, with a market value of USD 2,205.4 million; it is expected to register a CAGR of 12.8% during the forecast period. The swipe sensor segment was valued at USD 1,013.1 million; it is projected to register the higher CAGR of 14.3%. Based on technology, the market has been segmented into capacitive, optical, thermal, and others. The capacitive segment accounted for the largest market share of 41.0% in 2018, with a market value of USD 1,318.3 million; it is expected to register a CAGR of 13.0% during the forecast period. The optical segment was the second-largest market in 2018, valued at USD 884.7 million; it is projected to register the highest CAGR of 15.2%. By application, the market is segmented into consumer electronics, government & law enforcement, military, defense & aerospace, travel & immigration, BFSI, healthcare, smart homes, commercial, and others. The consumer electronics segment accounted for the largest market share of 33.0% in 2018, with a market value of USD 1,062.2 million; it is expected to register the highest CAGR of 14.8% during the forecast period. The government & law enforcement segment was the second-largest market in 2018, valued at USD 562.9 Million; it is projected to exhibit a CAGR of 13.4%.
The growth of the global fingerprint sensor market is mainly driven by the increasing use of biometric devices and the rising trend of BYOD. Moreover, rapid technology developments have created an opportunity for market growth. However, lack of awareness about security and complexity in integrating devices with fingerprint sensors may slow the fingerprint sensors market's growth.
Global Fingerprint Sensor Market, by region, has been segmented into North America, Europe, Asia-Pacific, Middle East and Africa and Central & South America. In 2019, Asia-Pacific accounted for the largest market value of USD 1,663.4 million in 2019 and registered the highest CAGR of 15.42%.
The Key Players of the Global Fingerprint Sensor Market are NEC Corporation (Japan), IDEMIA (France), HID Global Corporation (US), Thales Group (France), Apple Inc. (US), Qualcomm Technologies Inc. (US), Synaptics Incorporated (US), Fingerprint Cards AB (Sweden), Shenzhen Goodix Technology Co., Ltd. (China), and IDEX Biometrics ASA (Norway) among others.
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
The significance of a physical access control solution is expected to create traction in the market.
Goodix (China), IDEMIA (France), Fingerprint Cards (Sweden), NEXT Biometrics (Norway), Anviz Global (US), Egis Technology (Taiwan), and IDEX ASA (Norway) are the eminent contenders in the market.
The revenue potential is expected to be raised from USD 13.19 billion in 2018 to the value of USD 26.75 billion by the end of the forecast period.
The Asia-Pacific region is expected to advance to the top position due to the progress in the consumer electronics sector.
The interval of the forecast spans the years 2017 to 2023.