Evolving urban lifestyle and fast transforming industrial scenario created an ambiance where security measures play an integral part in maintaining the psychological balance. Fingerprint sensors are gaining rapid traction owing to this reason, as tricking the sensor or cheat it, is quite cumbersome and requires great expertise. With the advent of the smartphone, fingerprint sensor market is now having a wider field to operate. Demand for data security is receiving considerable attention from the manufacturers of such devices which can act as a potential market booster. The global fingerprint sensor market is expecting a robust CAGR during the forecast period (2016-2027). Market Research Future (MRFR) in their detailed report covers drivers such as physical access control solution and online and mobile e-commerce options which are expected to bolster the market growth.
However, Lack of technological awareness and restrictions regarding its implementations can pull back the market. But increasing government and private sector initiatives to monitor and safeguard buildings with personal data verification can prevent the possible plateaued effect exercised by the detractors.
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The global fingerprint sensor market can be segmented by components, technology, and applications.
By components, the market can be segmented into sensors, hardware, software, and others. Sensors can be further segmented into optical sensors, capacitive sensors, ultrasound sensors, thermal sensors and solid-state sensors, and others.
Based on application, the market includes mobile security, government, military & defense, banking, and commercial, and others.
Technology-wise segmentation comprises capacitive & Radio frequency (RF) capacitive, thermal, optical and others.
Based on the geographical analysis, Fingerprint Sensor Market Growth can be segmented by North America, Europe, Asia Pacific (APAC) and Rest-of-the-World (RoW).
The APAC region is currently leading the market with a substantial market share and is expected to do so in the near future. The region has several companies that are implementing biometric system to have better security. Furthermore, the presence of a quite a few smartphone big shots has helped the region in developing new technologies. The astonishing number of smartphone users in this region is backing it up aptly. China, South Korea, and India are going to register substantial growth. North America and Europe are also fetching in significant revenue as these regions have infrastructural superiority which boosts the research and development sector for the market considerably. Also, major smartphone companies are taking futuristic leaps by bettering the present sensor model.
The intensely competitive market is thriving on the basis of strategies implemented by key market players with an aim to increase market prospect. Fingerprint Cards AB has acquired Delta ID to expand their technological facilities which can be considered a strategic move that would take the market further ahead. Amazon Web Services, on the other hand, has bought sqrrl to improve their security threat detection system.
Prominent players influencing the market are 3M Cogent Inc. (U.S.), Crossmatch (U.S.), Dermalog Identification Systems (Germany), Egis Technology Inc. (U.S.), Fingerprint Cards AB (Sweden), Goodix Ltd (China), NEC Corporation (Japan), Silead Inc. (China), Suprema Inc. (Korea), Synaptic Inc. (U.S.), and others.
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