According to the latest report by IMARC Group, titled “Fingerprint Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global fingerprint sensors market size reached US$ 3.7 Billion in 2020. Fingerprint sensors are vital components of electronic security systems that rely on fingerprints for biometric authentication and granting the user access to a device, information or approve transactions. These sensors also provide fast, reliable, and easy access to personal contact details, emails, personal information, and location. They are convenient, cost-effective, facilitate record-keeping and assist in managing attendance portals. Consequently, they are widely adopted in the consumer electronics, aerospace, government and law enforcement, healthcare, defense and military, travel and immigration, and banking, financial services and insurance (BFSI) sectors across the globe.
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 Sensors Market Trends:
At present, the leading smart device manufacturers are focusing on the integration of fingerprint sensors as they assist users in logging in with a single touch. These sensors increase security, eliminate the use of PIN codes, patterns and passwords, and minimize threats related to hacking and misuse of sensitive data. They are also used to strengthen the authentication process and to offer secure access control in several organizations. This, in confluence with the increasing sales of smartphones, is positively influencing the market growth. Apart from this, the rising incidences of security breaches are also driving the fingerprint sensors market. Furthermore, the incorporation of advanced technologies, including artificial intelligence (AI), to provide a personalized user experience is fostering the market growth. Looking forward, the market value is projected to reach US$ 8.5 Billion by 2026, expanding at a CAGR of 14.64% during the forecast period (2021-2026).
- Based on the type, area and touch sensors dominate the market, followed by swipe sensors.
- On the basis of the technology, the market has been segregated into capacitive, optical, thermal and others. At present, optical technology holds the largest market share.
- Based on 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.
- Region-wise, the market has been categorized into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has been examined, with some of the key players being 3M Company, Anviz Global Inc., Apple Inc., Bio-key International, Inc., Egis Technology Inc., Fingerprint Cards AB, Advent International Corporation, IDEX Biometrics ASA, M2SYS Technology, NEXT Active Thermal, NEC Corporation, Qualcomm Incorporated, Shenzhen Goodix Technology Co, Ltd., Sonavation, Inc., Synaptics Incorporated and Vkansee Technology Inc.
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