Fingerprint Module Market Outlook- 2030
The Fingerprint module is a scanning technology that recognizes and validates the fingerprints of a user in order to allow or deny access to a computer system or a physical entity. The fingerprint module comprises of computer software program and the hardware. Fingerprint enrollment and fingerprint matching are the two major tasks of the fingerprint module.
In the fingerprint enrollment part, the regulator captures the fingerprint and stores it in the database and in the Fingerprint matching part the regulator matches the fingerprint with the database and only allows access if the match happens.
Fingerprint modules are used as security systems in diverse applications such as mobile phones, laptops, financial services, defense, aerospace, healthcare, travel, and immigration. Furthermore, in monitoring the attendance in almost all the offices, the fingerprint modules are employed.
The global fingerprint module market is segmented on the basis of technology, type, industry vertical and region. In terms of technology, the market is categorized into capacitive, optical, thermal, and ultrasonic. Based on type, the market is divided into swipe, area, and touch. On the basis of industry vertical, the market is divided into banking & finance, commercial, government & law enforcement, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global fingerprint module industry include Secugen Corporation, Integrated Biometrics Llc, Hid Global Corporation, Assa Abloy Ab, Nitgen Co. Ltd., Suprema HQ, Shenzhen Yaloite Biometrics Technology Co. Ltd.,Fingerprint Cards Ab, Sparkfun Electronics, Silk Id Systems, Anviz Global,Bioenable Technologies Pvt. Ltd., Firich Enterprises Co Ltd.,Next Biometrics Group Asa, Idex Asa., Idemia France SAS,Delaney Secure, 360 Biometrics, 3M Cogent, Apple Inc., Fujitsu Ltd., and NEC Corporation. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global fingerprint module market.
COVID-19 Scenario Analysis
The COVID-19 pandemic is one of the prominent threats to mankind and the economy across the globe. The COVID-19 pandemic has caused large-scale concerns and economic misfortune for consumers, industries, businesses, and communities across the globe. Following social distancing norms and working from home has become the new trend in today's COVID-19 era.
The vital impact of the COVID-19 pandemic is the disruption of the supply chain and operating business with minimal workforce. These two factors have remarkably affected the fingerprint module market growth of businesses across the globe. The growth of the fingerprint module market has also been affected by the COVID-19 pandemic outbreak.
Due to lockdown during COVID-19 pandemic, offices were shut and people were working from home and this has reduced the use of fingerprint module for the biometric system of tracking the attendance of the employees. This has led to decrease in demand for the fingerprint modules in the market.
Top Impacting Factors
The significant factor that firmly affect the growth of fingerprint modules in the market includes large-scale adoption of fingerprint sensors for biometric authentication in consumer electronics and government buildings. This is expected to grow fingerprint module market size.
The fingerprint modules have become one of the major components in mobile phones and laptops for providing a extra layer of security for accessing it. This extra layer of security ensures that only the owner of the phone has the privilege to access the phone or laptop. The surge in demand for smartphones, laptops and other electronic devices has become one of the crucial factors that help in driving the fingerprint module market.
In security restricted building, fingerprint module plays an important role in granting access to the fingerprint-matched user. For accurate digital identification in various government applications such as passports and voter registrations, the fingerprint modules are extensively used to capture the biometrics. All these factors thrive the way for the need of fingerprint modules in the market and is expected to grow fingerprint module market size
The major restraining factors for the growth of the fingerprint modules market are the security threat to the biometric database, high cost involved in setting up the infrastructure for biometric systems involving both hardware & software expenses, and in the industrial sector where employee work with their hands it may happen that in the due time their hands may become rough and the fingerprint module may not be able to sense these changes with time.
Extensive Adoption of Biometrics in Law Enforcement and Government Offices
The fingerprint module is playing a vital role in capturing the fingerprint of the criminals providing them criminal ID that helps the law enforcement agencies to track the criminals and maintain law and order in the society. The governments in the past decade have started monitoring its employee’s attendance using the biometric systems and this has led to the increase in demand for the fingerprint module in the market. Therefore, industry forecast is expected to grow significantly.
Emergence in the Demand for Smartphones
Smartphone market is expected to increase fingerprint module market share. The smartphone manufacturers such as Apple, Samsung, Vivo, Xiaomi, and Realme have started integrating their smartphones with fingerprint modules. The fingerprint module provides an extra safety feature in the accessibility of the smartphones. When this system was introduced in the market, a massive demand for this was witnessed and now the manufactures are integrating almost all their upcoming smartphones with the fingerprint module. Therefore, fingerprint module industry forecast is expected to grow significantly.
Key Benefits of the Report
- This study presents the analytical depiction of the fingerprint module market Forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and fingerprint module market opportunities along with detailed analysis of the fingerprint module market share.
- The current market is quantitatively analyzed to highlight the fingerprint module market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed fingerprint module market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Fingerprint Module Market Research Report
- Which are the leading players active in the fingerprint module market size?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and fingerprint module market trends opportunities?
- What are the projections for the future that would help in taking further strategic steps?
Fingerprint Module Market Report Highlights
By Industry Vertical
Key Market Players
SparkFun Electronics, Secugen Corporation, Silk ID Systems, Suprema, Assa Abloy AB, IDEMIA, Fingerprint Cards AB, Nitgen Co. Ltd., Integrated Biometrics Llc, HID Global Corporation