With the rising adoption of fingerprint-authentication systems, the growth of the fingerprint sensors market is likely to be witnessed over the next couple of years. Market Research Future (MRFR)’s observation states that the global market is anticipated to mark 18.33% CAGR across the assessment period 2018 to 2023. The observation further asserts that the market is poised to value at USD 26.75 Bn by 2023 up from USD 13.19 Bn in 2018.
The developments in sensor technology are expected to propel expansion of the fingerprint sensors market over the next few years. Case to the point is, the new feature of in-display finger sensors leveraged by smartphone makers is likely to boost sales of smartphones in the upcoming years. Increasing demand for smartphones is likely to drive market growth in the years to come.
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Apart from smartphones, the technology finds application in other electronics and also across industry verticals such as travel & immigration, healthcare, defense, etc. Proliferating applications is anticipated to ensure an accelerated growth pace of the fingerprint sensors market in the nearby future.
The segments of the global fingerprint sensors market, based on type, are area & touch sensors, swipe sensors.
Technology-based segmental assessment of the fingerprint sensors market covers capacitive, optical, and others.
The key application-based segments identified in this report on the global fingerprint sensors market are consumer electronics, travel & immigration, government & law enforcement, healthcare, and others.
The geographical assessment of Global Fingerprint Sensors Market covers four crucial regions – North America, Asia Pacific (APAC), Europe, and the Rest of the world (RoW). These regions are narrowed down to country-level basis for a detailed analysis. Asia Pacific is projected to dominate the growth pattern of the market in the years to come. The flourishing electrical & electronics industry in Taiwan, China, South Korea, India, etc. is prognosticated to lead the proliferation of the fingerprint sensors market in the region over the next couple of years. Also, factors such as rising disposable income, increasing population, growing penetration of smartphones, rising standards of living, etc. are expected to fuel demand for the product across the projection period. North America fingerprint sensors market is also expected to strike a remarkable CAGR during the assessment period.
Apple (US), Fingerprint Cards (Sweden), Synaptics (US), Goodix (China), Egis Technology (Taiwan), IDEMIA (France), NEXT Biometrics (Norway), IDEX ASA (Norway), Anviz Global (US), and Gemalto (Netherlands) are few of the prominent participants of the global fingerprint sensors market. Some of the organic approaches expected to be utilized by these players to garner more market share in the coming years are product launch, portfolio development, technological innovations, research & development, etc.
Other players that constitute a considerable fraction of the global market are Cross Match Holdings Inc (US), VKANSEE Technology and Integrated Biometrics, Inc (US), Dermalog Identification Systems GmbH (Germany), Safran Identity & Security (France), 3M Cogent Inc (US), and NEC Corporation (Japan). Investments by the market players in the regional expansion are anticipated to boost the competition among them over the next couple of years. In addition, the inorganic growth strategies projected to be leveraged by the players of the fingerprint sensors market are mergers & acquisitions, collaborations, agreements, etc.
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