Fingerprint Sensor Market Overview:
According to the Central Intelligence Agency (CIA), there was a total number of 41,788 airports in the world, and there are more on-going airport construction projects . Now, these airports warrant superlative security infrastructure, and biometrics and fingerprint sensors are an indispensable part of it, which is stroking the fingerprint sensor market that was already valued to be $4 billion to $5 billion as of 2018 according to the market analyst of IndustryARC. Furthermore, the analyst estimates that the demand for the product will grow at a remarkable CAGR of 14% during the forecast period of 2019 to 2025.
Now, the countries in the APAC region already have a booming market in the consumer electronics sector with China alone producing an enormous amount of mobile phones annually. The Make in India program by the Indian government has largely influenced the production of consumer electronics in the country. Other countries in the APAC region such as Taiwan, Indonesia, and the Philippines are also significantly growing and sharing the market of smartphones, tablets, and other electronic devices. Furthermore, there is a tangible growth in the commercial, real estate, and banking sectors in APAC which is making it the leading region with a fingerprint sensor market share of 29% to 31%.
Fingerprint Sensor Market Outlook:
Fingerprint sensor or capacitive sensor is a scanner used to identify or distinguish between the fingerprints of people for security reasons. These fingerprint sensors are comprised of piezoelectric material or pyroelectric material. Fingerprint sensor market growth mainly attributes to its application in various sectors such as consumer electronics, banking and finance, travel and immigration, military and defense, commercial security, and aerospace. Lately, biometric fingerprint sensors are becoming the most reliable security systems in banking and finance. The market analyst estimates the application CAGR of fingerprint sensors in government and finance to be a staggering 15% to 17% during the forecast period of 2019 to 2025.
Fingerprint Sensor Market Growth Drivers:
- The Application of Fingerprint Sensors in Law Enforcement and Governments –
There is a discernible challenge that law enforcement officers and governments face to identify the citizens. This is coupled with a gamut of terrorists and suspicious activities that are frequently reported across the globe. Now, fingerprint sensors provide a simple security solution to this problem because of which the law enforcement departments and governments are incorporating fingerprint sensors identification which is bolstering the fingerprint sensor market growth.
- The Raining Smartphones Across the Globe –
According to the Global Systems for Mobile Communications (GSMA), there were a total number of 5 billion mobile subscribers at the end of 2017, and the production will grow at a CAGR of 2.1% during the forecast period of 2017 to 2025 which translates to a whopping 5.9 billion mobile subscribers in 2025 . Now, fingerprint sensors are an integral part of smartphones nowadays. “The estimated production of smartphones in the future coupled with the need for fingerprint installation in these devices is creating a sustainable fingerprint sensor marketplace for the existing market players and vendors,” highlights the market expert in the market research report.
- The Penetration of Biometrics in the Healthcare Sector –
There is a palpable growth of biometrics in doctor’s offices and hospitals for access control, identification, workforce management, and patient record storage. Fingerprint sensors are also used for the verification of blood donors. The future foresees the inception of electronic prescriptions which is going to create substantial growth opportunities to the vendors in the fingerprint sensor market.
Fingerprint Sensor Market Challenges:
The major challenges in the fingerprint sensor market are growing competition and integration of biometrics into the devices. The industry is struggling to make the fingerprint sensors module compact, thin, and easy to integrate and there is a difficulty in placing these sensors under displays, especially in smartphones. However, there is an innovation which enables vendors to develop fingerprint sensors using thin film transistors. This is largely ameliorating the problems in the fingerprint sensor market.
Fingerprint Sensor Market Key Players Perspective:
The market leader in fingerprint sensor market is Apple with its Touch ID which will also be used in the touch ID equipped iPhone.
Goodix, Egis Technology, Fingerprint Cards, Synaptics, IDEMIA, NEXT Biometrics, Anviz Global, IDEX ASA, and Gemalto are some other key players in the fingerprint sensor market.
Fingerprint Sensor Market Trends:
- In September 2018, HID Global acquired Crossmatch – one of the market leader in biometric identity. The acquisition chiefly attributes to HID Global’s mission to enhance its biometric portfolio.
- In November 2018, Airport IT solutions provider SITA had acquired MEXIA in order to position itself in the fingerprint sensor market by reinforcing biometric automation technology.
Fingerprint Sensor Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the fingerprint sensor market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of fingerprint sensor market, and their specific applications in the defense, retail, education, healthcare, financial, and government sectors.
Fingerprint Sensor Market Report: Industry Coverage
The report analyses the product demands on the bases of fingerprint sensor which can be capacitive, optical, thermal, pressure, RF, ultrasonic, and others.
The fingerprint sensor market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia