Fingerprint Sensor Market

Global Fingerprint Sensor Market Size (2023 to 2028)

The global fingerprint sensor market size is expected to be worth USD 3.60 Billion in 2023. It is expected to grow at a CAGR of 14.92% during the forecast period and reach a value of USD 7.22 Billion by 2028.

After the introduction of the iPhone 5S, which had a Touch ID capacitive system, the market caught the attention of smartphone manufacturers. Since then, many other next-generation models have integrated fingerprint sensors that have attracted customers. Fingerprint digitization biometric security devices. These are now being used in police stations, security sectors, and, most recently, computers. Because they vary from person to person, fingerprints have become the perfect means of identification.

MARKET DRIVERS:

The increasing complexity of Fingerprint Sensor technology has enabled extensive adoption of Fingerprint Sensors across multiple markets, which is expected to be a key driver for the global Fingerprint Sensor market during the forecast period. A balanced spending flow for product development, as well as research efforts in the Fingerprint Sensor by many tech companies, has been a significant boost for the global market. The high adaptation of technology into most government bodies and digitization of time and attendance in many companies and schools fuel the fingerprint sensor market forward.

The growing use of fingerprint sensors in smartphones to perform tasks such as unlocking phones & apps and making payments is expected to boost the growth rate of the fingerprint sensor market. Growing security and privacy issues in laptops, as well as attempts by OEMs to provide flexible security features for wearables, are contributing to the growth of the global market. Continuous advances in consumer electronics' fingerprint scanning technology also fuel market growth.

MARKET RESTRAINTS:

The availability of other alternatives, such as facial recognition sensors and people's adoption of cooler and faster technology, can be considered a restraint to the market. The crowded market with constant innovations from crucial players can also be considered a restraint to the fingerprint sensor market. 

REPORT COVERAGE:

This research report on the global fingerprint sensor market has been segmented and sub-segmented into the following categories.

Fingerprint Sensor Market – By Application:

• Banking and Finance
• Government
• Commercial
• Consumer Electronics
• Others

Fingerprint Sensor Market – By Technology:

• Capacitive
• Optical
• Ultrasonic
• Thermal

The capacitive segment led the market in 2022 and will account for a considerable share of the worldwide market during the forecast period Capacitive sensors are more reliable and are expected to contribute to a significant part of the market for fingerprint sensors, as many smartphones and other electronic devices are adopting these scanners. Such sensors use tiny capacitors to collect fingerprint data, record fingerprint details using the electrical charge generated by the capacitors, and store and analyze specific and distinctive fingerprint attributes. 

The optical segment is another notable segment and will grow at a healthy CAGR during the forecast period. Optical fingerprint scanners are the first software used to capture and compare fingerprint data. Such types of scanners capture a visual object like a camera and use algorithms to identify different patterns, such as the darkest and brightest areas of the image. Such sensors capture a 2D object and are, therefore, less stable and will be subject to low adoption.

Fingerprint Sensor Market – By Region:

• North America 
• Europe
• Asia Pacific 
• Latin America 
• Middle East and Africa 

The Asia Pacific regional market is projected to be the fastest-growing regional market globally due to the large electronics manufacturing industry and the demand for smartphones and other devices. The Asia Pacific has been one of the biggest contributors to the rise of mobile phone subscribers in recent years. According to the GSM Association, there were about 3.1 billion registered cellular subscribers in the Asia Pacific by the end of 2019, accounting for two-thirds of the region's population. Half of the world's mobile subscribers come from the Asia Pacific, especially India and China. Mobile devices and services have contributed $1.4 trillion to the region's economy and are expected to reach $1.9 trillion by 2024.

KEY MARKET PLAYERS:

Shenzhen Goodix Technology Co., Ltd., Apple, Fingerprint Cards AB, NEXT Biometrics Group ASA, Synaptics Incorporated, Qualcomm Technologies, Inc., Novatek Microelectronics Corp., Egis Technology Inc., Crucial Tec and Q Technology (Group) Company Limited are some of the major companies in the global fingerprint sensor market.

RECENT HAPPENINGS IN THE MARKET:

• Samsung's most awaited 2019 flagship, the Galaxy S10+, sports an ultra-sound in-display fingerprint sensor. The latest generation of biometric technologies is designed to work well in all lighting conditions. In reality, it claims to perform better with dusty and muddy fingerprints. It is believed to be more accurate and consistent than the optical sensors that we have on the currently available in-display fingerprint sensor devices.