Fingerprint Sensor Market Size is Expected to Reach USD 5.1856 Billion by 2025 | Valuates Reports
BANGALORE, India, May 20, 2020 /PRNewswire/ -- The global fingerprint sensor market size is valued at 2.910 Billion USD in 2020, and is expected to reach USD 5.1856 Billion by the end of 2026, rising at a CAGR of 8.5 percent in 2021-2026.
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The introduction of fingerprint sensors in smartphones and other consumer electronics, government funding for the adoption of fingerprint sensors, and the use of biometrics in mobile commerce are the main drivers for the fingerprint sensor market's growth.
The report offers an exhaustive geographical analysis of the global fingerprint sensors market, covering important regions, their market size, forecast, trends, and share. This report also analyses the impact of Coronavirus (COVID-19) on the fingerprint sensors market.
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TRENDS INFLUENCING THE FINGERPRINT SENSOR TECHNOLOGY
-- Widespread use by governments and law enforcement agencies of
fingerprint sensor based biometric systems for improving security drives
the growth of global fingerprint sensor market size. Furthermore, the
growing adoption of biometric-based time and attendance systems in
corporate and government organizations for measuring hours of service
for workers and productivity supports market growth.
-- Fingerprint sensors provide the authenticated user with fast, secure,
and easy access to personal contact details, emails, payment
information, location data, and other types of encrypted data. Sensors
for fingerprints allow fast record keeping and control of portals for
attendance. Compared with other biometric authentication systems, they
are less costly. These factors further increase the growth of the
fingerprint sensor market size.
-- The growth of the fingerprint sensor industry is expected to increase
the adoption of fingerprint sensors in smartphones to perform tasks such
as unlocking phones & apps and make payments. Increased security &
privacy issues in laptops, as well as OEMs' efforts to deliver wearables
with dynamic security features, are some of the key factors affecting
market development. Continuous developments and innovation in
fingerprint scanning technology also support market growth in consumer
electronics.
-- Due to the recent outbreak of the COVID -19 pandemic, where the virus is
found to be spreading due to physical contact, the market for the
fingerprint sensor is expected to face a stunted growth.
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FINGERPRINT SENSOR MARKET SHARE ANALYSIS
-- Capacitive technology is expected to hold the largest share for the
fingerprint sensors market. It is primarily attributed to the growing
use of capacitive sensors in products like iPhones, laptops, and other
consumer electronic gadgets. In addition to consumer electronics,
capacitive sensors are now found in modern vehicle applications such as
door locks and launch engine operations. Low cost and strong customer
adoption of a capacitive fingerprint sensor thus accelerate development
for the demand of fingerprint sensors.
-- Asia-Pacific is projected to dominate the market during the forecast
period due to growth in the consumer electronics industry. The APAC
countries already have a booming consumer electronics industry, with
China alone manufacturing massive amounts of mobile phones each year.
The retail and corporate adoption of biometrics systems, growing fraud
incidents and maintaining safe access to physical and logical properties
in commercial applications, increasing awareness among the masses about
the benefits of using fingerprint sensing technology, and the
cost-effectiveness of these sensors drive the growth of the APAC
fingerprint sensor market.
FINGERPRINT SENSOR MARKET REGIONAL ANALYSIS
-- North America
-- Europe
-- Asia-Pacific
-- Latin America.
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FINGERPRINT SENSOR MARKET SEGMENTATION
Fingerprint Sensor Market Segment by Type
-- Capacitive
-- Optical
-- Thermal
-- Others.
Fingerprint Sensor Market Segment by Application
-- Consumer Electronics
-- Government & Law Enforcement
-- Military, Defense, & Aerospace
-- Travel & Immigration
-- Banking & Finance
-- Commercial
-- Healthcare
-- Smart Homes
-- Other Applications.
The major players in the market include
-- Synaptics (US)
-- Synaptics (US)
-- Fingerprint Cards (Sweden)
-- Goodix (China)
-- IDEMIA (France)
-- Egis Technology (Taiwan)
-- NEXT Biometrics (Norway)
-- Anviz Global (US)
-- IDEX ASA (Norway)
-- Gemalto (Netherlands)
-- Others.
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? Development of Smartphone Fingerprint Recognition Technology
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