Fingerprint Sensor Market worth $5.8 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 6, 2021 /PRNewswire/ -- According to a research report "Fingerprint Sensor Market with Covid–19 Impact by Technology (Capacitive, Optical, Thermal and, Ultrasonic), Type (Area, Touch, and Swipe), Sensor Technology, Product, End–Use Application, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Fingerprint Sensor Market is estimated to be valued at USD 3.5 billion in 2021 and reach USD 5.8 billion by 2026; it is expected to grow at a CAGR of 10.9% during the forecast period (2021–2026).
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=169519533
The extensive use of fingerprint sensors in consumer devices, the effective implementation of biometric time and attendance systems for calculating employee productivity, work hours, and others, and the high adoption of biometrics by the governments worldwide for enhanced security are the key factors driving the growth of the fingerprint sensor market. However, threats pertaining to the biometric database are the major restraint that hinders the growth of the fingerprint sensor market. On the contrary, the emergence of biometric smartcards in BFSI applications, the newest trend of in-display fingerprint sensors in smartphones, and the rise in the adoption of fingerprint sensors in IoT-based devices are likely to provide lucrative opportunities to the fingerprint sensor market players during 2021–2026. Moreover, the rising use of facial recognition technology in payments, access and security, and criminal identification applications pose challenges to the fingerprint sensor market.
Ultrasonic fingerprint sensors are projected to witness the highest CAGR for the forecast period
Ultrasonic sensors read the epidermal skin layer as well as a dermal skin layer, capturing the fine details. Therefore, these sensors can read wet fingers and fingers with ruptured skin or damaged skin. Advances in sensing technology are expected to accelerate the ultrasonic fingerprint sensor market growth. In terms of size, Capacitive is the leading technology in the fingerprint sensor market; this is mainly because of its low cost and high consumer acceptance. Capacitive sensors can be highly compact and used in mobile and portable devices. Biometric smartcards, vehicle scanners, and smart locks are among a few of the emerging applications of capacitive fingerprint sensors, which would further provide growth opportunities for the capacitive sensor market. Optical technology is expected to hold the second-largest share in the fingerprint market during the forecast period. Increasing acceptance of in-display scanners from end users and the user-friendly experience have prompted OEMs to implement in-display fingerprint sensors in smartphones. Thus, the increasing acceptance by customers encourages OEMs to manufacture in-display fingerprint sensor-enabled smartphones, which propels market growth.
Area and Touch sensors to account for the largest share of the market during the forecast period
Area and touch sensors are widely used in consumer electronics as these sensors offer a high degree of convenience and accuracy, thereby capturing a larger market share. Touch sensors are becoming increasingly smaller and are more cost-effective and convenient to use. OEMs prefer these sensors over swipe sensors, particularly in mobile devices that demand smaller sensors to achieve more compact products as favored by end users in the market. A few of the companies providing area and touch sensors include Synaptics (US), Fingerprints (Sweden), Apple (US), and IDEX (Norway). OEMs using touch sensors for smartphones include Samsung (South Korea), Apple (US), and Xiaomi (China), while companies providing fingerprint scanners and readers enabled with touch sensors include SecuGen (US), HID Global (US), and Suprema (South Korea).
Browse in-depth TOC on "Fingerprint Sensor Market"
221 – Tables
60 – Figures
259 – Pages
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=169519533
2D fingerprint sensors is estimated to hold a major share of the market
The market for 2D sensor technology is projected to reach USD 5,407 million by 2026. 2D sensor technology is most suitable for performing detection and ranging tasks. The technology remains a preferred choice for OEMs due to its low cost, particularly in mobile devices that demand smaller sensors, to produce miniaturized products preferred by end users in the market. However, the fingerprint sensor market for 3D is projected to grow at a higher CAGR of during the forecast period. 3D data provides the most accurate representation of a true fingerprint. FlashScan3D (US), Qualcomm (US), and Touchless Biometric Systems TBS (Switzerland) offer 3D sensors for access control, time & attendance, and other sensitive applications.
Consumer Electronics end–use application is expected to hold the largest share in 2026
The consumer electronics application is likely to account for the largest size of the market for fingerprint sensors in the coming years mainly because of the rise in demand for these sensors in consumer devices such as smartphones, tablets, laptops, and notebooks. Consumer IoT devices are expected to provide opportunities for the market during the forecast period.
Banking and finance is expected to be the fastest-growing application during the forecast period due to the growing adoption of fingerprint sensors in smartcards used for payments. Several entities such as fingerprint sensor manufacturers, smartcard manufactures, and card issuers across the value chain are taking initiatives to increase the adoption of biometric payment cards across the world. A few of the players include Fingerprint Cards, NEXT Biometrics, IDEX ASA, IDEMIA, Gemalto, Kona I, XH Smart, Goldpac, and issuers include AirPlus, Intesa Sanpaolo, Société GénéraleMACU, and Banks in the Middle East. In April 2019, the Royal Bank of Scotland (RBS) started its biometric payment card trial with customers in Scotland. The card is provided by Gemalto and is using Fingerprints' T-shape sensor module.
APAC is attributed to growing at the highest CAGR in the fingerprint sensor market during the forecast period (2021-2026)
APAC dominates the fingerprint sensor market mainly because consumer electronics is the key application for fingerprint sensors, and APAC is the major market for consumer electronics. Key countries in APAC include China, Japan, India, and South Korea. Major demand for fingerprint sensors is propelled by OEMs based in China and South Korea. Major smartphone manufacturers in China include Huawei, Xiaomi, Oppo, and Vivo, while Samsung, based in South Korea, is one of the leaders in the smartphone market, which accelerates the fingerprint sensor market growth in APAC. Other critical applications for which fingerprint sensors are adopted in APAC include banking and finance, government and law enforcement, and travel and immigration. A few of the leading players in the fingerprint sensor market in APAC are Goodix (China), EGIS Technology (Taiwan), Q Technology (China), and CrucialTec (South Korea).
Key Market Players:
In 2020, the fingerprint sensor market was dominated by Goodix (China), Fingerprint Cards AB (Sweden), Synaptics (US), Apple Inc. (US), and Egis Technology (Taiwan).
Related Reports:
Biometric System Market with COVID-19 Impact by Authentication Type (Single-Factor: Fingerprint, Iris, Face, Voice; Multi-Factor), Offering (Hardware, Software), Type (Contact-based, Contactless, Hybrid), Vertical, and Region - Global Forecast to 2025
Mobile Biometrics Market by Component (Fingerprint Readers, Scanners, Cameras, Software), Authentication Mode (Single factor (Fingerprint, Voice, Face, Iris, Vein, & Retina Scan) and Multifactor), Industry, and Geography - Global Forecast to 2022
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/fingerprint-sensors-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/fingerprint-sensors.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article