IMPACT OF DRIVERS ON FINGERPRINT SENSOR MARKET


Posted July 8, 2022 by prashantvi

the fingerprint sensor market is estimated to be valued at USD 3.5 billion in 2021 and reach USD 5.8 billion by 2026; it is expected to grow at a CAGR of 10.9%
 
The fingerprint sensor market is projected to grow USD 3.5 billion in 2021; it is expected to grow at a CAGR of 10.9% from 2021 to 2026, to reach USD 5.8 billion by 2026.

The extensive use of fingerprint sensors in consumer devices, the effective implementation of biometric time and attendance systems for calculating employee productivity, work hours, and others, and the high adoption of biometrics by the governments worldwide for enhanced security are the key factors driving the growth of the fingerprint sensor market. However, threats pertaining to the biometric database are the major restraint that hinders the growth of the fingerprint sensor market. On the contrary, the emergence of biometric smartcards in BFSI applications, the newest trend of in-display fingerprint sensors in smartphones, and the rise in the adoption of fingerprint sensors in IoT-based devices are likely to provide lucrative opportunities to the fingerprint sensor market players during 2021–2026. Moreover, the rising use of facial recognition technology in payments, access and security, and criminal identification applications pose challenges to the fingerprint sensor market.

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Based on different fingerprint sensing technologies, the market has been segmented into four types: capacitive, optical, ultrasonic, and thermal. Capacitive is the leading technology in the fingerprint sensor market; this is mainly because of its low cost and high consumer acceptance. The availability of low-cost capacitive sensors has resulted in the wide adoption of sensors in low- and mid-priced smartphones. Biometric smartcards, vehicle scanners, and smart locks are among a few of the emerging applications of capacitive fingerprint sensors, which would further provide growth opportunities for the capacitive sensor market. Optical technology is expected to hold the second-largest share in the fingerprint market during the forecast period. Increasing acceptance of in-display scanners from end users and the user-friendly experience have prompted OEMs to implement in-display fingerprint sensors in smartphones. Vivo, Huawei, Xiaomi, Oppo, and Lenovo are among a few of the smartphone players that have adopted in-display sensors in their smartphones.

The fingerprint sensor market has been segmented based on type into area and touch and swipe sensors. Area and touch sensors are widely used in consumer electronics as these sensors offer a high degree of convenience and accuracy, thereby capturing a larger market share. Touch sensors are becoming increasingly smaller and are more cost-effective and convenient to use. OEMs prefer these sensors over swipe sensors, particularly in mobile devices that demand smaller sensors to achieve more compact products as favored by end users in the market. A few of the companies providing area and touch sensors include Synaptics (US), Fingerprints (Sweden), Apple (US), and IDEX (Norway). OEMs using touch sensors for smartphones include Samsung (South Korea), Apple (US), and Xiaomi (China), while companies providing fingerprint scanners and readers enabled with touch sensors include SecuGen (US), HID Global (US), and Suprema (South Korea).

The fingerprint sensor market has been segmented based on sensor technology into 2D and 3D. The market for 2D sensor technology is projected to grow at a CAGR of 10.7% during the forecast period. 2D sensor technology is most suitable for performing detection and ranging tasks. The technology remains a preferred choice for OEMs due to its low cost, particularly in mobile devices that demand smaller sensors, to produce miniaturized products preferred by end users in the market. The fingerprint sensor market for 3D is projected grow at a higher CAGR of 14.7% during the forecast period. 3D data provides the most accurate representation of a true fingerprint. FlashScan3D (US), Qualcomm (US), and Touchless Biometric Systems TBS (Switzerland) offer 3D sensors for access control, time & attendance, and other sensitive applications.

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Issued By marketsandmarkets
Country United States
Categories Electronics
Tags fingerprint sensor market
Last Updated July 8, 2022