Fingerprint Sensor Market - Forecast(2021 - 2026)

 

Fingerprint Sensor Market Overview

The rising need of multi-factor authentication method across consumer electronics, banking and financial sectors is set to grow the fingerprint sensor that was already valued to be $4.68 billion in 2018 and is expected to grow at a CAGR of 14% during forecast period 2019-2025. Factors such as the proliferation of fingerprint sensors in smartphones and other consumer electronics, government support for the adoption of fingerprint sensors in BFSI industry, and the use of biometrics in mobile commerce are driving the growth of the market. The adoption of fingerprint protection by smartphones to secure stored data and the essential bank options such as OTP and mobile banking applications are expected to fuel the fingerprint sensor market. According to the statics provided by TrendForce, growth in the share of smartphone shipments incorporated with fingerprint sensor increased from 29% in 2015 to 60% in 2018, which is likely to augment the fingerprint sensor market further during the forecast period. 
On the other hand, increasing support from the government for the adoption of fingerprint sensors, along with use of biometrics in BFSI, and law enforcement sectors has been driving the fingerprint sensor market. The fingerprint devices in BFSI will help in authenticated transaction with fingerprint to prevent fraud that will lead the growth of fingerprint sensor market. 
In fingerprint sensors market below developments would make dynamical changes, which in turn, will augment the market in terms of revenue: 
A Swedish fingerprint sensor company, Fingerprint Cards AB, shipped one billion fingerprint sensors worldwide in Q1 2019. Going forward, the company is estimated to reach 2 billion of sensors shipment globally by the end of 2019, which will show significant growth in overall fingerprint sensor market. 
The development in mobile fingerprint devices by Metropolitan Police Service can scan suspect fingerprints and returns any match to police databases within 60 seconds that is one of the emerging innovation for law enforcement. 
These developments and innovations are expected to grow the of fingerprint sensor market globally. 


Fingerprint Sensor Market Report Coverage

The report: “Fingerprint Sensor – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Fingerprint Sensor Market.
By Type: Area, Touch, Swipe, Fingerprint Sensor Modules
By Technology: Capacitive Sensor, Optical Sensor, Thermal Sensor, Pressure Sensor, RF Sensor, Ultrasonic Sensor, Others
By Application: Desktop, Laptop, Smartphones, Wearable Devices, Tablets, Gaming Consoles, Notebooks, Security & Alarm Solutions, Government & Law Enforcement, Others.
By Industry: Defense, Retail, Education, Healthcare, BFSI, Government, Commercial, Manufacturing/Industrial, Telecommunication, Travel & Immigration, Others
By Geography: North America, South America, Europe, Asia-Pacific, RoW 


Key Takeaways

  • The major driving factor in the fingerprint sensor market is the increasing demand of smartphones with high-end technologies and fingerprint specifications, which are likely to grow the fingerprint sensor market during the forecast period.
  • The BFSI sector in the fingerprint sensor market is expected to grow at a CAGR of 19% during the forecast period. The increased need for multi-factor authentication systems in banking is being more prominent and increasing the demand for fingerprint sensors within this application.
  • APAC holds the largest market for the fingerprint sensors market accounting to around 34% of the global market share owing to the increased demand for consumer electronics such as smartphones, and wearable devices and so on, which are installed with fingerprint sensors.  Moreover, the BFSI sector will be showing significant growth in the adoption of fingerprint to prevent the fraud cases.


Fingerprint Sensor Market Segment Analysis - By Technology

The capacitive and optical sensor technology are the most common type of fingerprint scanner, being used nowadays. The market is expanding significantly owing to increasing demand for secure consumer electronics and an overall need for rigid security. 
Apart from that, the optical fingerprint scanner is now being used in most cost-effective hardware these days. These sensor are gaining prominence due to increasing popularity of in-display fingerprint sensors. Essential technology such as optical sensors has the viability to work efficiently with smartphones and provide multi-factor authentication systems in mobile banking ecosystem, which is likely to grow the fingerprint sensor market positively. 
In 2019, a biometrics company Fingerprint Cards AB, introduced its FPC1610 sensor prototype using optical in-display fingerprint sensor for smartphones. These developments will show significant growth for in-display optical fingerprint sensors in the market.


Fingerprint Sensor Market Segment Analysis - By Industry

The BFSI industry in fingerprint sensor market is expected to grow with the fastest CAGR of 19% during the forecast period. The banks are extensively working on payments cards with in-built fingerprint sensors, in order to end the need of PINs to make payments much secure. This will allow the most secure authentication mechanism for account holders.  
Moreover, the government support for the adoption of fingerprint sensors owing to keep the security for unique identification and verification of individuals in e-Governance applications are expected to propel the growth of the fingerprint sensor market.
On the other hand, consumer electronics is one of the major market for fingerprint sensors. Various biometric incorporated devices such as smartphones, tablets, gaming consoles, and notebooks are expected to fuel the fingerprint sensor market.  The growing trend of bezel-less screens feature, using OLED display, in smartphones has led the manufacturers to develop high-end in-display fingerprint sensors technology that occupy less space. This in-display fingerprint sensors will be incorporated in OLED displays using optical or ultra-sonic sensor technology.   Hence, the adoption of in-display fingerprint sensors is expected to fuel the demand for ultrasonic and optical in-display fingerprint sensors, which is rising at the rate of 14% in 2019.

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