Global Market for Fingerprint Sensor is USD 10.8 Billion during the Forecast Period 2021-2027

Posted October 4, 2021 by industryno1

VynZ Research is a global market intelligence company providing research reports.

The global fingerprint sensors market is expected to witness a CAGR of 15.2% during the forecast period. The fingerprint sensors market has expanded rapidly over the past few years, and it is likely to increase even further during the forecast period. Improved acceptance of smartphones, rising security applications, government initiatives to adopt biometrics and increasing developments by key players tend to be the key factors driving the demand for fingerprint sensors market globally.

In November 2019, Fingerprint Cards announced that its technology had been combined into 400 different smartphone models. Previously in 2019, Fingerprints Card AB announced that it had distributed 1 billion fingerprint sensors worldwide and the company is observing increased acceptance of biometric technologies to recover the user experience and change PINs and passwords.

With the recent outbreak of COVID 19, the fingerprint sensor market is observing a weakening in growth due to various organizations and government establishments limiting the usage of biometric systems in their respective locations. For instance, in February 2020, South Korea banned the tradition of fingerprint scanners across all government and private organizations due to the COVID virus that is spread through touchpoints.

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The government and law enforcement segment accounted for a significant share of the global fingerprint sensor market in 2019 and is likely to dominate by 2027, due to a rise in safety concerns in government offices. Concurrently, the healthcare segment is one of the fastest-growing segments in the forecast period. Hospitals are in the development of transforming themselves by digitizing patient records to deliver quick, safe, improved, and cost-effective care. Healthcare management applications are moving to biometric iris gratitude technology to create precise patient identification and identify proper cover status to avoid fraud and identical medical records.

The Asia-Pacific market is expected to hold the largest share in the global fingerprint sensors market by 2027 as China, India, South Korea, and Japan are subsidizing to the growth of the fingerprint sensors market in the region. China is witnessing a high mobile volume of smartphone deliveries is also expected to drive the fingerprint sensor market with almost all of the recent smartphones that are integrating them, be it capacitive or optical.

In 2019, China's smartphone consignments were valued at 369 million units, while distribution stations started to clear 4G inventory in expectation of 5G uptake in the new year. With the broader rollout of 5G and more motivations given by operators this year, 5G smartphones are likely to exceed 150 million units in 2020. Huawei alone transported 33 million smartphone units in the last quarter of 2019.

Some of the key players operating in the fingerprint sensors market: IDEMIA, Thales Group, Synaptics Incorporated, Apple Inc., 3M Congent Inc., Egis Technology Inc., HID Global Corporation, Crossmatch, SecuGen Corporation, and Precise Biometrics.

Source: VynZ Research
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Last Updated October 4, 2021