According to the latest report by IMARC Group, titled "Fingerprint Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global fingerprint sensor market grew at a CAGR of around 16% during 2014-2019. A fingerprint sensor is a part of the biometric system that is used for scanning an individual’s fingerprints for authentication and authorization purposes. It captures high contrast fingerprint images with the help of the piezoelectric or pyroelectric materials present in the sensors. The images are further converted into digital code and are compared with the existing biometric template stored in the database. Fingerprint scanners are extremely fast, reliable and accurate that allow the users to conveniently access mails, location data, personal contact details and other crucial information. They are also affordable in nature and can be integrated with various smart devices seamlessly. Consequently, they are widely utilized across numerous industry verticals, such as healthcare, defense, consumer electronics and aerospace.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Fingerprint Sensor Market:
The market is primarily driven by the growing utilization of single sign-in systems in numerous digital devices, such as smartphones and tablets. These systems utilize fingerprint sensors to assist users to log in to their device with a single touch of the finger, thus eliminating the usage of PIN codes, patterns and passwords. The usage of fingerprint sensors result in minimizing the threats pertaining to hacking, stealing and misusing sensitive data, which is contributing to their widespread utilization. Apart from this, there has been a significant rise in the adoption of cloud computing across numerous industries, along with the increasing incidences of security breach. As a result, fingerprint sensors are widely used to offer secure access control and strengthen the authentication process in several organizations. The market is further driven by the growing utilization of multi-factor authentication (MFA) systems with these sensors to provide enhances security and access for high-end security requirements. Numerous players are also integrating advanced technologies, including artificial intelligence (AI), with these sensors to provide a personalized user experience while improving the accuracy of the authentication process. On account of the aforementioned factor, the market is expected to exhibit strong growth during 2020-2025.
- On the basis of the type, the market has been bifurcated into area and touch sensors, and wipe sensors.
- Based on the technology, the market has been divided into capacitive, optical, thermal and others.
- On the basis of the application, the market has been classified into consumer electronics, government and law enforcement, military, defense and aerospace, travel and immigration, banking and finance, healthcare, smart homes and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players. Some of these players include 3M Cogent Inc., Anviz Global Inc., Apple Inc., BIO-Key International, Inc., Egis Technology Inc, Fingerprint Cards AB, Advent International Corporation, Idex Biometrics ASA, M2SYS Technology, Next Biometrics Group ASA, NEC Corporation, Qualcomm Technologies Inc., Shenzhen Goodix Technology Co. Ltd., Sonavation Inc., Synaptics Incorporated and Vkansee Technology Inc.
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