Fingerprint sensor market is growing with a double digit CAGR due to rapid adoption of fingerprint based authentication system across portable application by government. The major growth driver of fingerprint sensors market includes growing demand for security checks in organizations, growing importance of physical access control solution, and growing market of smartphones and tablets among others. Further, the high market growth of consumer devices like smartphone, tablets and other portable device demands the use of fingerprint sensors to maintain privacy and security of data and access.
Internet based online and mobile ecommerce options has further boost the demand for fingerprint sensors market. However, factors such as lack of awareness about security and complexity of integration of smartphone like devices with fingerprint sensors can hamper the market growth According to a recent study report published by the Market Research Future, The global market of fingerprint sensor is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2027).
There are tremendous market opportunities in the development of less expensive fingerprint sensors for a wide range of applications. There is a rise in adoption of integrated fingerprint sensor based on two-factor authentication systems or multi-factor authentication systems that can provide high tech security and access for the application areas which belong to high-end security requirements.
The Fingerprint Sensor Market can be classified into 4 key segments for the convenience of the report and enhanced understanding;
Segmentation by Components: Comprises sensors (optical sensors, capacitive sensors, ultrasound sensors, thermal sensors and solid-state sensors among others), hardware and software among others.
Segmentation by Technology: Comprises Capacitive & RF Capacitive, Thermal, Optical and Others
Segmentation by Application: Comprises consumer electronics, travel & immigration, government, military defence and aerospace, BFSI, healthcare and others.
Asia Pacific is dominating the global fingerprint sensor market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records by 2022. Due to presence of countries such as China, South Korea, and India are majorly driving the growth of the fingerprint sensors market in Asia Pacific. These countries have a considerable market size and offer a momentous scope for the development of the fingerprint sensors market. The rise of the mediocre income population in China and India and other major emerging markets in the region is aiding the consumer expenditure. Other factors such as the large population, rapid urbanization, rising disposable income, and growing middle class in APAC region are some of the drivers for the growth of the market for fingerprint sensors in the consumer electronics application in APAC. Other factor such as growing usage of biometric devices in organizations and growing acceptance of new technology in the region.
The market of fingerprint sensor appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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) and Synaptic Inc. (U.S.) are some of the prominent players at the forefront of competition in the Global Fingerprint Sensor Market and are profiled in MRFR Analysis.
May 1, 2017 – Crossmatch, a globally-recognized leader in biometric identity management and secure authentication solutions, introduced Nomad, its latest line of biometric fingerprint modules and readers, at this week’s connect: ID Conference and Expo in Washington, DC designed with mobility in mind, the Nomad line utilizes capacitive thin film transistor (TFT) technology to enable space-saving, lightweight modules and pocket-sized compact readers.
29 November, 2016 – DERMALOG AFIS, the largest German biometrics provider presents the fastest automated fingerprint identification system in the world. As confirmed by the renowned test body SGSTÜV Saar, the software allows the processing of almost one billion matches per second.
June 28, 2017– Egis Technology Inc., a leading fingerprint sensor provider, announced at 2017 Mobile World Congress (Booth W5.F100, Shanghai New International Expo Centre (SNIEC), held from June 28 to July 1) another key design win for its ET320 fingerprint touch sensor with Motorola Mobility LLC. Moto E4 and Moto E4 Plus incorporating Egis’ ET320.
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