Portland.OR, March 18, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global fingerprint sensor market was pegged at $2.93 billion in 2019, and is estimated to reach $9.41 billion by 2027, growing at a CAGR of 14.5% from 2020 to 2027.
Increase in use of fingerprint sensors for biometric authentication in customer electronics, advent of touchless fingerprint technology, and surge in adoption of biometric authentication in government buildings have boosted the growth of the global fingerprint sensor market. However, security concerns regarding biometric databases and high cost of biometric technologies hinder the market growth. On the contrary, rise in adoption of in-display fingerprint sensors in smartphones and the trend of IoT-based biometric technology would open new opportunities for the market players in the future.
Get Instant Access – Download Free Sample Report: https://www.alliedmarketresearch.com/request-sample/6649
Covid-19 scenario-
- Due to the Covid-19 outbreak and lockdown, there has been a decline in the use of fingerprint sensors as the companies have adopted contactless technologies.
- During the first phase of lockdown, the manufacturing companies closed their facilities, which created a gap in supply-demand. Moreover, the prolonged lockdown disrupted the supply chain.
- However, as the countries are recovering, the demand for the fingerprint sensor is expected to increase soon.
The global fingerprint sensor market is segmented on the basis of type, end use, and region. Based on type, the FAP 30 segment is estimated to showcase the highest CAGR of 18.5% during the forecast period. However, the FAP 10 segment held the lion’s share in 2019, accounting for nearly two-fifths of the market.
Enquire For More: https://www.alliedmarketresearch.com/purchase-enquiry/6649
On the basis of end use, the banking and finance segment is estimated to manifest the highest CAGR of 16.7% during the forecast period. However, the government and law enforcement segment held the largest share in 2019, contributing to nearly one-third of the market.
The global fingerprint sensor market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the lion’s share in 2019, accounting for nearly half of the market. In addition, the same region is estimated to register the highest CAGR of 16.2% during the forecast period.
Get Customized Report: https://www.alliedmarketresearch.com/request-for-customization/6649
The global fingerprint sensor market report includes an in-depth analysis of the prime market players such as IDEMIA, Apple Inc., Synaptics Incorporated, Precise Biometrics, SecuGen Corporation, Egis Technology Inc., 3M Congent Inc., Thales Group, Crossmatch, and HID Global Corporation.
Access Avenue (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/Avenue-Membership-details
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.