PUBLISHER: The Business Research Company | PRODUCT CODE: 1391226
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391226
“Fingerprint Sensor Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fingerprint sensor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fingerprint sensor? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The fingerprint sensor market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A fingerprint sensor is a specialized type of sensor employed in fingerprint detection devices for biometric authentication, granting users access to specific information or entry/exit points. Renowned for their precision, superior performance, and resilience, these sensors rely on exclusive fingerprint biometric technology. Authentication processes heavily leverage fingerprint sensors.
The primary categories in the fingerprint sensor market are area and touch sensors, along with swipe sensors. Area and touch sensors capture and record the image of the finger placed over the sensor. Various technologies, including capacitive, optical, thermal, and ultrasonic, are utilized, incorporating diverse sensor technologies such as 2D and 3D. These fingerprint sensors find applications in a wide range of sectors, including consumer electronics, government and law enforcement, military, defense, aerospace, travel and immigration, banking and finance, commercial, healthcare, smart homes, and other domains.
The fingerprint sensor market research report is one of a series of new reports from The Business Research Company that provides fingerprint sensor market statistics, including fingerprint sensor industry global market size, regional shares, competitors with a fingerprint sensor market share, detailed fingerprint sensor market segments, market trends and opportunities, and any further data you may need to thrive in the fingerprint sensor industry. This fingerprint sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fingerprint sensor market size has grown rapidly in recent years. It will grow from $5.89 billion in 2023 to $6.97 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth observed in the historical period can be attributed to heightened demands for security and authentication, a surge in the adoption of mobile devices, increased utilization in government and law enforcement sectors, expanded usage in financial services, and increased applications in the healthcare industry. These factors collectively contributed to the growth witnessed during the historic period.
The fingerprint sensor market size is expected to see rapid growth in the next few years. It will grow to $13.38 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The anticipated growth in the forecast period is driven by the expanding realms of e-commerce and online security, a heightened focus on healthcare data protection, the integration of biometrics in automotive applications, the imperative of regulatory compliance, and the increasing emphasis on border security and immigration measures. Noteworthy trends expected in the forecast period encompass the adoption of in-display fingerprint sensors, the advancement of ultrasonic fingerprint technology, the incorporation of under-display cameras, and the prevalence of multimodal biometrics, showcasing the industry's commitment to diverse and sophisticated security solutions.
The widespread adoption of biometrics by governments is a significant driver contributing to the growth of the fingerprint sensor market. Fingerprint sensors play a crucial role in biometric identification and attendance monitoring in offices. Governments worldwide are increasingly integrating fingerprint sensors into their systems. For instance, in October 2021, police units in the UK adopted mobile fingerprint scanners for use on the streets. This initiative enables the police to quickly identify suspects by matching their fingerprints with those already in police databases, with the INK Biometrics mobile biometric solution utilizing the crossmatch fingerprint sensor device. The high adoption of biometrics by governments is expected to propel the growth of the fingerprint sensor market in the foreseeable future.
The increasing number of mobile connections is another key factor expected to drive the growth of the fingerprint sensor market. Mobile connections refer to wireless connections that enable devices like smartphones and tablets to connect to a cellular network, providing access to voice, data, and internet services. Fingerprint sensors in mobile phones enhance security, reduce password fatigue, secure transactions, and enable device encryption. In February 2023, there were 71.8 million mobile connections in the UK, marking a 3.8% (or around 2.6 million) increase over 2021, according to Uswitch Limited, a UK-based price comparison and switching service company. With an estimated 95% of the 68.3 million UK population (65 million individuals) expected to own a smartphone by 2025, the increased number of mobile connections is anticipated to drive the growth of the fingerprint sensor market.
Technological advancement is a prominent trend gaining traction in the fingerprint sensor market. Major companies in the fingerprint sensor sector are actively focused on developing new technological solutions to meet consumer demand and strengthen their market positions. For instance, SecuGen Corporation, a US-based optical fingerprint technology company, introduced the fingerprint reader Hamster Pro 30 and OEM sensor U30. These products have received certification from the FBI, and the sensor is utilized in FIPS 201 PIV and Mobile ID FAP 30 applications. This trend reflects the industry's commitment to advancing technology and meeting the evolving needs of consumers.
Major companies in the fingerprint sensor market are actively developing innovative products to meet the growing demand for fingerprint sensor technology. One notable example is the introduction of MorphoWave, a range of contactless fingerprint terminals. In January 2022, IDEMIA, a US-based security company, announced the launch of MorphoWave contactless fingerprint terminals. The MorphoWave range comprises two variations of contactless fingerprint scanners that incorporate IDEMIA's cutting-edge advancements in artificial intelligence utilization. This innovation reflects the industry's commitment to enhancing contactless fingerprint technology to meet evolving security and user experience demands.
In a strategic move in September 2022, ASSA ABLOY, a Sweden-based provider of safe and secure doorways, acquired Control iD for an undisclosed amount. This acquisition is poised to fill multiple gaps for ASSA ABLOY by integrating biometric technologies, especially facial recognition. Control iD, based in Brazil, is a developer of hardware and software solutions for access control, fingerprint sensors, and time and attendance. This strategic acquisition underscores the industry's focus on expanding and diversifying its offerings to provide comprehensive and secure solutions in the growing field of biometric technology.
Major companies operating in the fingerprint sensor market include Cogent Systems Inc., Anviz Global, Apple Inc., Egis Technology Inc., Fingerprint Cards AB, Shenzhen Goodix Technology Co. Ltd., Idex Biometrics ASA, Nippon Electric Company, NEXT Biometrics Group ASA, Qualcomm Technologies Inc., Synaptics Incorporated, BIO-key International, CrucialTec, Hid Global Corporation, M2SYS Technology, Novatek Microelectronics, Secugen Corporation, Goodix Technology Inc., CMOS Sensor Inc., ELAN Microelectronics, Focaltech, Japan Display Inc., Sonavation Inc., Touch Biometrix, Vkansee, AuthenTrend, BioEnable Technologies, Crossmatch, Dermalog Identification Systems GmbH, Gemalto NV, HID Global Corporation, Precise Biometrics AB, Suprema Inc., ZKTeco Inc., BioScan Tek, FacePhi Biometria S.A., Fujitsu Limited, Innovatrics, Nuance Communications Inc.
Asia-Pacific was the largest region in the fingerprint sensor market in 2023. The regions covered in the fingerprint sensor market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the fingerprint sensor market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The fingerprint sensor market consists of sales of optical fingerprint sensors, capacitive fingerprint sensors, thermal fingerprint sensors, and other fingerprint sensors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.