New York, USA, June 26, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), Fingerprint Sensors Market Information by Type, By Technology, Application, and Region - Forecast till 2030”, Market could thrive at a rate of 13.27% between 2022 and 2030. The market size will be reaching around USD 14.47 Billion by the end of the year 2030.
Fingerprint Sensors Market Synopsis
Fingerprint sensors have become increasingly prevalent in various industries, offering a secure and convenient method for biometric authentication. These sensors capture and analyze unique fingerprint patterns, allowing for accurate identification and authentication of individuals. The market for fingerprint sensors has witnessed significant growth, driven by advancements in technology, increasing demand for secure authentication solutions, and the widespread adoption of biometric authentication across industries.
Fingerprint sensors find applications in a wide range of sectors, including smartphones, banking and finance, government and law enforcement, healthcare, and automotive. In smartphones, fingerprint sensors are integrated into devices to provide secure unlocking and authentication features. In the banking and finance sector, fingerprint sensors are used for secure login authentication, payment authorization, and fraud prevention. Government and law enforcement agencies utilize fingerprint sensors for identity verification, criminal investigations, and border control. In healthcare, fingerprint sensors are employed for patient identification and secure access control. Additionally, fingerprint sensors are being incorporated into automotive systems for keyless entry and driver identification.
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Fingerprint Sensors Market Competitive Landscape:
The affluent companies in the Fingerprint sensors industry include
- IDEX Biometrics
- Shenzhen Goodix Technology Co Ltd
- Fingerprint Cards
- Synaptics Incorporated
- Qualcomm Technologies
- Apple Inc
- Thales
- HID Corporation
- IDEMIANEC Corporation.
Latest Industry Updates (March 2023)
Fingerprint Cards (FPC), one of the prominent players in the market, announced the launch of their latest fingerprint sensor solution. FPC introduced a new capacitive touch sensor that offers enhanced security, reliability, and speed. The sensor is designed to provide a seamless and secure user experience, catering to applications in smartphones, smart cards, and other IoT devices. This development showcases the continuous innovation in fingerprint sensor technology and the commitment of market players to meet the evolving needs of customers.
Scope of the Report – Fingerprint Sensors Market:
| Report Metrics | Details |
| Market Size by 2030 | USD 14.47 Billion |
| CAGR during 2023-2030 | 13.27% |
| Base Year | 2022 |
| Forecast | 2023-2030 |
| Key Market Opportunities | Increasing penetration of large consumer electronics manufacturing companies |
| Key Market Dynamics | Increasing penetration of connected technology and IoT creates more market demand |
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Market USP Covered:
Market Drivers:
The market driving factors for the fingerprint sensors market include the increasing demand for secure authentication solutions, the rising adoption of biometrics in various industries, and the growing emphasis on data privacy and security. With the rise in cyber threats and identity theft, there is a growing need for robust authentication methods, and fingerprint sensors offer a highly secure and convenient solution. Moreover, the adoption of biometric authentication is expanding across industries, as organizations seek to enhance security measures and improve user experience. Additionally, stringent data privacy regulations and the increasing awareness of data breaches have led to a greater focus on secure authentication methods, driving the demand for fingerprint sensors.
Market Restraints:
The fingerprint sensors market does face certain restraints. One major market restraint is the high cost associated with fingerprint sensor technology. The implementation of advanced fingerprint sensors involves significant investments in research and development, manufacturing, and integration into devices or systems. The cost factor may hinder the widespread adoption of fingerprint sensors, particularly in price-sensitive markets or industries. Additionally, compatibility issues with existing infrastructure and the requirement for standardization and interoperability pose challenges for market growth. Furthermore, concerns related to the accuracy and reliability of fingerprint sensors in certain conditions, such as wet or dirty fingers, can impact their adoption in specific applications.
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COVID 19 Analysis
The COVID-19 pandemic had a mixed impact on the fingerprint sensors market. While the initial phase of the pandemic caused disruptions in the supply chain and manufacturing processes, the need for touchless biometric authentication solutions increased due to health and hygiene concerns. Fingerprint sensors that incorporate touchless or optical technologies gained traction in applications where contact-based fingerprint scanning was not preferred. Post-COVID, the fingerprint sensors market is expected to rebound as economies recover and organizations resume their operations. The market is likely to witness growth driven by the increasing demand for secure and touchless authentication solutions across various industries.
Market Segmentation
- By Technology- The technology in the market includes Capacitive, Optical, Thermal, Others
- By Type- The Type in the market includes Area & Touch Sensor, Swipe Sensor
- By Application- By Application, the segment includes Consumer Electronics, Government & Law Enforcement, Military & Defense, BFSI, Smart Homes, Healthcare, Aerospace, Commercial
Regional Insights
North America holds a significant share in the fingerprint sensors market due to several key factors. Firstly, the region is home to major technology players, including Qualcomm Technologies, Synaptics Incorporated, and Apple Inc., which have been at the forefront of developing innovative fingerprint sensor technologies. These companies invest heavily in research and development, driving advancements in the market.
In Europe, the fingerprint sensors market is driven by the growing demand for secure authentication solutions, particularly in the banking, finance, and government sectors. European countries, such as Germany, France, and the United Kingdom, have stringent regulations and standards for data privacy and security. This has led to increased adoption of fingerprint sensors as a reliable and secure method for biometric authentication. The region also focuses on implementing secure authentication in digital banking, e-commerce, and online government services, further driving the demand for fingerprint sensors.
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The Asia Pacific region is witnessing rapid growth in the fingerprint sensors market, fueled by various factors. Firstly, the region has a large population, with countries like China, Japan, and India at the forefront of technological advancements. The increasing adoption of smartphones and other smart devices in these countries has created a significant demand for fingerprint sensors for secure authentication. Additionally, government initiatives promoting digitalization, smart city development, and e-governance have further boosted the adoption of fingerprint sensors in Asia Pacific.
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