Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Fingerprint Scanner Market 2030 by Type, Integration, Application, And End-Use Verticals - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.
The Fingerprint Scanner Market is estimated to grow at a CAGR of 12.25% during the forecast period from 2023 to 2030.
Increased demand for biometric security
The rising demand for biometric security in fingerprint scanners is a direct result of the expanding threat landscape, in which traditional security methods are no longer adequate to secure sensitive data and digital assets. Biometric security, particularly fingerprint scanning, provides a strong and highly individualized identification mechanism that tackles the flaws in passwords, PINs, and other traditional types of security.
The alarming rise of cyberattacks and data breaches is one of the primary causes driving the surge in demand for biometric security in fingerprint scanners. Cybercriminals have gotten more adept in their strategies, exploiting weak passwords and stealing credentials to gain illegal access to accounts and networks. Fingerprint scanning adds an extra degree of protection that is nearly impossible to recreate because each person's fingerprint is unique and cannot be simply replicated or guessed.
Additionally, the ease of use of biometric security has contributed greatly to its appeal. Users are frequently plagued by the requirement to remember multiple passwords for various accounts and applications. As a result, individuals may resort to using weak passwords or reusing them across various platforms, which might pose security problems.
Fingerprint scanners eliminate the need for passwords entirely, providing a simple and user-friendly authentication mechanism that only takes a touch. Also, with the rise of e-commerce, mobile banking, and online services, the demand for secure and convenient authentication solutions has never been greater. Fingerprint scanning is a quick and reliable means to validate identities, guaranteeing that only authorized individuals can carry out transactions and access digital resources.
Furthermore, technological improvements are driving the greater use of biometric security. Fingerprint scanners have gotten more sophisticated, accurate, and cost-effective, allowing them to be used in a wider variety of sectors and applications. For example, Touchless fingerprint scanning and in-display sensors have improved user experiences while retaining security.
Likewise, Biometric authentication is being used by financial institutions to improve the security of Internet banking, mobile payments, and ATM transactions. Similarly, healthcare providers are utilizing fingerprint scanners to assure precise patient identification and to prevent unwanted access to electronic health records.
In conclusion, Fingerprint scanning's uniqueness and precision provide a safe authentication mechanism that is difficult to duplicate, making it a perfect choice for protecting sensitive data and assuring secure access to digital services. As industries prioritize security and user experience, biometric security use is expected to rise further, altering the way people authenticate and engage with technology.
Rising number of identity threats
The fingerprint scanner market is currently experiencing a significant problem due to the increasing number of identity risks. As biometric technology becomes more widespread for identification and access control, bad actors are increasingly targeting fingerprint data, emphasizing the importance of strong security measures to fight these attacks.
Personal identity data, including fingerprints, has become a sought-after target for hackers due to the development of digital transactions and data storage. Because fingerprints are essentially unique and cannot be changed like passwords, data breaches aiming at compromising biometric information can have serious effects. Because of its individuality, fingerprint scanners are a valuable target for identity theft and unauthorized access, driving the fingerprint scanner market to address these identity concerns straight on.
The fingerprint scanner market's identity threats include a variety of techniques. Data breaches entail the unlawful obtaining of sensitive information by exploiting flaws in systems collecting fingerprint data. Identity theft, unlawful access, and even the production of synthetic fingerprints for nefarious reasons can all occur from such breaches.
As a result, safeguarding fingerprint databases with strong security and encryption technologies has become critical. Another major risk is impersonation assaults. These attacks involve attempting to mislead fingerprint scanners using forged fingerprints or other techniques of impersonating authorized users. With fingerprint technology employed in applications ranging from mobile devices to financial transactions, the necessity for strong anti-spoofing methods to prevent hostile actors from circumventing security measures has grown.
Furthermore, the utilization of fingerprint data in vital industries such as government, finance, and healthcare amplifies the impact of identity threats. Compromised fingerprints can allow unwanted access to government documents, financial accounts, and sensitive medical information. Beyond individual privacy issues, the consequences extend to commercial and societal hazards, driving the fingerprint scanner business to develop and deploy tighter security techniques.
Regional Insight
The Asia Pacific region has seen a significant rise in the use of fingerprint scanners, owing to a convergence of technology breakthroughs, a rising need for secure authentication solutions, and the region's rapid economic development. Fingerprint scanners are widely used in a variety of industries, leading to increased security, simplified procedures, and better customer experiences. The region's technological advancement is one of the key causes behind the region's rapid increase in fingerprint scanners.
Countries such as China, Japan, South Korea, and India have emerged as global technology leaders, fostering biometric solution innovation. As a result, advanced fingerprint scanning technologies, such as touchless and multi-modal authentication systems, have been developed, which are appealing to the region's tech-savvy people.
Additionally, the region's dedication to digital transformation and the growth of e-commerce has increased the demand for strong security measures. Fingerprint scanners provide a seamless and safe means to authenticate identities for online transactions, making them an ideal fit for Asia Pacific's e-commerce boom. Fingerprint scanners help to develop confidence and protect sensitive data as people increasingly use online platforms for shopping, banking, and other activities.
Also, The Asia Pacific financial sector has embraced fingerprint scanners as a means of increasing security and boosting client experiences. Many banks and financial institutions have integrated fingerprint authentication into their services, allowing consumers to safely and conveniently access accounts, authorize transactions, and complete various financial procedures. This has not only improved security but also reduced dependency on traditional methods such as PINs and passwords.
China's dominance in fingerprint scanner growth can be attributed to technology improvements, strong economic growth, and smart investments. The country has quickly risen to prominence as a global leader in a variety of technological fields, including biometrics. Chinese businesses such as Huawei, ZTE, and Lenovo have been instrumental in pushing the frontiers of innovation and usefulness in fingerprint scanning technology.
In conclusion, Fingerprint scanners are altering the way people interact with technology, from mobile devices to financial services and beyond, by enabling secure, seamless, and personalized experiences that correspond with Asia Pacific's evolving digital landscape.
Company Profiles
- Apple Inc. (US)
- Synaptics Inc. (US)
- Goodix Ltd. (China)
- NEC Corporation (Japan)
- Thales SA. (France)
- BioEnable Technologies Pvt Ltd. (India)
- SecuGen Corporation (US)
- HID Global (US)
- Fingerprint Cards AB (Sweden)
- Fulcrum Biometrics, Inc. (US)
- 3M (US)
- BioEnable (India)
- BIO-key (US)
- CrossMatch (US)
- Dermalog (Germany)
- Safran (France)
- Synaptics (US)
- SecuGen (US)
Major Classifications are as follows:
By Type
- Single Finger
- Dual Finger
- Four Finger
By Integration
- Integrated Fingerprint Scanners
- External Fingerprint Scanners
By Application
- Access control system
- Person identification
- Authority management
- Others
By End-use Verticals
- BFSI
- IT and Telecom
- Healthcare
- Government and Defence
- Retail
- Automotive
- Aerospace and Aviation
- Others
By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Rest of the World
- Middle East
- UAE
- Saudi Arabia
- Israel
- Rest of the Middle East
- Africa
- South Africa
- Rest of the Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/4nwegz
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