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Fingerprint Sensor Market By Type (Touch and Swipe), Technology (Capacitive, Optical, Thermal, and Ultrasonic), and Application (Consumer Electronics, Banking & Finance, Government & Law Enforcement, Commercial, Smart Homes and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

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Jul 2020 | 415 Views
 
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Fingerprint Sensor Market Outlook – 2027 

The global fingerprint sensor market is expected to witness substantial growth during the forecast period of 2020 to 2027. A fingerprint sensor is a scanner used to identify or differentiate between the fingerprints of people for security purposes. Fingerprint sensors are widely used in biometric systems in several fields such as national projects, banking, educational institutes, and corporate organizations. Fingerprints scanned by the sensors are non-transferrable and rule out the possibility of authentication errors and identity theft. In the commercial and industrial sectors, these sensors are used in biometric devices that allow more accurate record of workforce and their daily activities.

The global fingerprint sensor market is segmented on the basis of type, technology, application, and region. Based on type, the market is categorized into touch and swipe. On the basis of technology, the market is divided into capacitive, optical, thermal, and ultrasonic. In terms of application, the market is categorized into consumer electronics, BFSI, government & law enforcement, commercial, and smart homes. Geographically, the market is analyzed across several regions such as across North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global fingerprint sensor industry include CMOS Sensor Inc., Elan Microelectronics Corp., Focaltech, ID3 Technologies, IDEX Biometrics, Japan Display Inc., OXI Technology Co. Ltd., Sonavation Inc., Touch Biometrix., and VKANSEE. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to maintain their foothold in the global fingerprint sensor market.  

Top Impacting Factors

Widespread use of fingerprint sensors-based biometric systems by governments and law enforcement agencies to enhance the security drive the growth of the global fingerprint sensor market. In addition, high adoption of biometric-based time and attendance systems in corporate and government organizations for calculating employee work hours and productivity supplement the market growth. 

However, threats of cyber-attacks on biometric databases are likely to hamper the market growth as spyware, malware used in phishing attacks, ransomware, and banking Trojans pose the greatest danger to biometric systems. On the contrary, emergence of biometric-based smartcards in the BFSI industry, implementation of fingerprint sensors in smartphones, and rise in usage of biometric technology based on the Internet of Things (IoT) are expected to create lucrative opportunities for the market players in the future.

High Adoption of Biometrics by Government for Enhancing the Security 

Police officers and governments face the challenge to identify the suspected citizens involved in any sort of criminal and terrorism activities. In addition, fingerprint sensors are used in prisons to identify and sort criminals. For crime investigation, fingerprint sensor-based devices are used by forensic technicians to match the fingerprint patterns collected from crime scenes with their existing criminal database. Moreover, it is used for intelligence gathering, surveillance, intelligence, and security. 

In April 2019, IDEMIA launched a wireless fingerprint identification device RapID X1 for police officers. The new device includes an FBI PIV FAP 30-certified fingerprint sensor and an in-built 4G/LTE cellular connection. In addition, in June 2019, Integrated Biometrics, a designer and manufacturer of high-performance mobile biometric fingerprint sensors, launched a low-power light emitting sensor- (LES-) based fingerprint scanner, named “Danno”. These factors are anticipated to increase the demand for a fingerprint sensor during the forecast period.

Adoption of Biometric Time and Attendance Systems

Biometric-based time and attendance systems are being used by many governments and corporate companies as biometrics systems can scan each employee’s hand shape, unique fingerprint, face shape, or iris. Thus, such identification technology helps businesses to track employee attendance and time accurately. Moreover, the implementation of a biometric attendance system helps the company achieve a positive return on investment. 

In January 2019, the Government of Karnataka made compulsory for all the state government degree colleges and universities to record and monitor the attendance of all teachers via a biometrics-based attendance system. 

Key Benefits of the Report:

  • The report offers the analysis of the global fingerprint sensor industry along with a glance at current global fingerprint sensor market trends and future estimations to foresee imminent threats and take necessary actions accordingly. 

  • The study offers an in-depth analysis of major drivers, opportunities, and restraints along with a comprehensive analysis of the global fingerprint sensor market share. 

  • The market study is analyzed from 2020 to 2027 to underline the global fingerprint sensor market growth possibilities.

  • The report includes Porter’s five forces analysis that offers insights about buyers & suppliers in the market. 

  • The global fingerprint sensor market analysis includes a study of the major market players in the global fingerprint sensor market.

 

Scope of the Report:

Report Metric

Details

  Market Size Available For Years

  2020-2027

  Base Year Considered

  2019

  Forecast Period

  2020-2027

  Forecast Units

  Value (USD)

  Segments Covered

  Type, Technology, Application, and Region

  Geographies Covered

North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, UK and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and the Rest of Asia Pacific), LAMEA (Brazil, Saudi Arabia, South Africa and the Rest of LAMEA)

  Companies Covered

Major players analyzed include CMOS Sensor Inc., Elan Microelectronics, Focaltech, ID3 Technologies, IDEX Biometrics, Japan Display Inc., OXI Technology, Sonavation Inc., Touch Biometrix. and Vkansee.

 

Key Segments:

Segments

Sub-Segments

  Type

  • Touch
  • Swipe

  Technology

  • Capacitive
  • Optical
  • Thermal
  • Ultrasonic

  Application

  • Consumer Electronics
  • Banking & Finance
  • Government & Law Enforcement
  • Commercial
  • Smart Homes
  • Others

 

Questions Answered in the Global Fingerprint Sensor Market Research Report:

  • What are the leading market players active in the fingerprint sensor market?

  • What recent trends will influence the market in the coming years?

  • What are the prime driving factors, restraints, and opportunities in the market?

  • What are the estimations that would help in taking further strategic steps

 
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