According to the latest report by IMARC Group “Fingerprint Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global fingerprint sensor market reached a value of US$ 5.15 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.4 Billion by 2027, exhibiting at a CAGR of 16.42% during 2022-2027.
A fingerprint sensor represents a biometric security system that scans an individual’s fingerprints to authenticate his or her identity. In terms of technology, it is available in several types, including, capacitive, optical, thermal, etc. These fingerprint sensor variants capture high-contrast fingerprint images and convert them into digital codes, which are stored as fingerprint minutiae. They prove to be a fast, reliable, convenient, and cost-effective method of verifying identities and can be seamlessly installed into multiple devices. As a result, fingerprint sensor models find extensive applications across numerous sectors, such as government and law enforcement, healthcare, aerospace, defense and military, banking, financial services and insurance (BFSI), travel and immigration, consumer electronics, etc.
Covid-19 Impact Analysis:
Note: 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.
The growing instances of security breaches in various industries and the elevating need for efficient authentication procedures to provide secure access control to varied facilities and IT systems are primarily driving the fingerprint sensor market. Apart from this, the escalating product adoption to digitize time and attendance systems in government and corporate organizations across countries is also positively influencing the global market. Furthermore, the increasing incorporation of these sensors in smartphones, wearables, and automobiles, owing to the emerging trend of automation, is acting as another significant growth-inducing factor. Besides this, the inflating investments in research and development (R&D) activities and the introduction of advanced products integrated with artificial intelligence (AI) by leading market players to improve the accuracy of the verification process and offer a personalized user experience are expected to propel the fingerprint sensor market over the forecasted period.
Global Fingerprint Sensor Market Report Coverage and Industry Segmentation:
The report cover the below key market segments:
Breakup by Type:
- Area and Touch Sensors
- Swipe Sensors
Breakup by Technology:
Breakup by Application:
- Consumer Electronics
- Government and Law Enforcement
- Military, Defense and Aerospace
- Travel and Immigration
- Banking and Finance
- Smart Homes
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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Competitive Landscape with Key Player:
- 3M Cogent Inc
- Anviz Global Inc
- Apple Inc
- BIO-Key International Inc
- Egis Technology Inc
- Fingerprint Cards AB
- IDEMIA (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
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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