The Asia Pacific fingerprint sensor market size is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed increasing mobile transactions in region coupled with the government’s initiatives to improve security.
Request Free Sample Report Here
The light-sensitive microchip on the fingerprint sensor scans the ridges and valleys of the fingerprint, turning them into binary numbers, and creates the user's own personal code. Many modern Internet of Things (IoT) applications rely on fingerprint sensors to improve safety and security, and to easily identify users. Fingerprint sensors are widespread in smartphones and smart home applications for entry identification and data security. The two most common fingerprint sensors used are optical sensors and capacitive sensors.
Market Trends, Drivers, Restraints, and Opportunities:
• Growing awareness about the system reliability regarding the security is driving the market growth.
• Rising penetration of smartphones and increasing integration of fingerprint sensors are expected to contribute to the growth of the market.
• The authentication system only recognizes traits that were entered and fails to recognize the user if their physical traits change to the slightest. This factor can create challenges for the market growth.
• The outbreak of COVID-19 has negatively impacted the Asia Pacific fingerprint sensor market. However, the market is anticipated to recover soon.
• In a crisis such as security breach, professionals cannot access the system remotely to prevent the exposure of sensitive data, which in turn, can hinder the market growth.
• The robust consumer electronics manufacturing ecosystem is expected to augment the Asia Pacific fingerprint sensor market growth.
Asia Pacific Fingerprint Sensor Market Segment Insights:
Optical segment to grow at a rapid pace
Based on types, the market is divided into optical, capacitive, thermal, and ultrasonic. The optical segment is anticipated to account for a key market share and is anticipated to grow at a steady rate during the forecast period. In-display fingerprint sensors are in demand by numerous smartphone manufacturers, which is expected to provide opportunities for the optical sensors in the projected timeline. An optical in-display fingerprint sensor uses an optical fingerprint sensor to capture the fingerprint data and is embedded under the phone’s screen. On the other hand, the capacitive segment to grow at a substantial CAGR during the forecast period. This type of sensor is more commonly and found on phones. Similar to the capacitive touchscreen, optical sensors scans finger by using human conductivity, creating an electrostatic field, creating a digital image.
Smart phones/ tablets segment to account a major market share
In terms of applications, the market is segmented into smartphones/tablets, laptops, smart cards, IoT, and others. The smartphones/tablets segment is anticipated to account for a major share due to increasing demand for high security among smartphones. Manufacturers are unanimously adopting superior capacitive and optical-capacitive hybrid scanners. These scanners use optical fingerprint data, combined with capacitive sensing to detect a real finger scan.
Consumer electronics segment to hold a significant market share
Based on end-user industries, the market is divided into military and defense, consumer electronics, BFSI, and government. The consumer electronic segment is anticipated to account for a significant market share due to increased security & privacy issues in laptops. Moreover, OEMs effort to deliver wearables with dynamic security features are some of the key factors affecting the market development. Continuous developments and innovation in fingerprint scanning technology are supporting the market growth in consumer electronics segment.
The market in India to exhibit a high CAGR
On the basis of regions, the market is segregated into China, Japan, India, South Korea, and Rest of Asia Pacific. The market in India is anticipated to exhibit a high CAGR during the forecast period. Increasing adoption of fingerprint in the BFSI sector is driving the market growth in the country. For instance, State Bank of India, a major lender in India, has planned to adopt a multi-mode biometric authentication for its mobile applications. It is expected to comprise either fingerprint or face recognition. The bank is also planning to use biometrics for various mobile banking products, including unified payment interface (UPI) transactions.
The major players of the market are Qualcomm Technologies Inc., TDK Corporation, Egis Technology Inc., Shenzhen Goodix Technology Co. Ltd, and Gemalto NV.
About Growth Market Reports:
GROWTH MARKET REPORTS provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GROWTH MARKET REPORTS has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.
Growth Market Reports
Phone: +1 909 414 1393
Email: [email protected]
Follow Us: LinkedIn | Twitter