“The fingerprint sensor market is expected to grow at a CAGR of 15.66% between 2018 and 2023”
The fingerprint sensor market is expected to grow from USD 4.25 billion in 2018 to USD 8.80 billion by 2023 at a CAGR of 15.66%. The growth of this market is mainly driven by factors such as the proliferation of fingerprint sensors in smartphones and other consumer electronics, government support for the adoption of fingerprint sensors, and use of biometrics in mobile commerce. High potential for fingerprint sensors in IoT applications, and growing scope in the banking and finance industry are the major opportunities for the growth of fingerprint sensor market. However, the adoption rate in developing countries and credibility of users for fingerprint sensor pose restraints for the growth of the market.
“The consumer electronics application is expected to hold a significant share of the fingerprint sensor market by 2023”
The consumer electronics application accounts for the largest share of the fingerprint sensor market. The application includes smartphones, laptops, Tablets, and smart wearable devices. The demand for fingerprint sensors is increasing rapidly in the consumer electronics application owing to the decreasing average selling price (ASP). Fingerprint sensors are used in smartphones for the authentication process to perform various tasks, such as for unlocking the phone and unlocking an application or making payments.
“The market in APAC is likely to grow at the highest CAGR during the forecast period”
The fingerprint sensor market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is the fastest-growing market for fingerprint sensors. The rise in disposable income in APAC countries has led to the increase in the demand and use of smartphones and laptops, which, in turn, has increased the growth of fingerprint sensor market in this region. The increasing penetration of fingerprint sensors and the influx of global players, along with the emergence of native players, are contributing to the growth of the market. As a result, APAC holds a significant share in the overall fingerprint sensor market.
Breakdown of the profiles of primary participants:
- By Company: Tier 1 = 45 %, Tier 2 = 35%, and Tier 3 = 20%
- By Designation: C-Level Executives = 50%, Manager Level = 30%, and Others = 20%
- By Region: North America = 43%, Europe = 29%, APAC = 21%, and RoW = 7%
The major players profiled in this report are as follows:
• Apple (US)
• Synaptics (US)
• Fingerprint Cards (Sweden)
• Goodix (China)
• IDEMIA (France)
• Egis Technology (Taiwan)
• NEXT Biometrics (Norway)
• Anviz Global (US)
• IDEX ASA (Norway)
• Gemalto (Netherlands)
In this report, the fingerprint sensor market has been segmented on the basis of type, technology, application, and geography. The market has been segmented on the basis of type into area & touch sensors and swipe sensors. The fingerprint sensor market based on technology has been segmented into capacitive, optical, thermal, and others. On the basis of application, the market has been segmented into consumer electronics; government and law enforcement; military, defense, and aerospace; travel and immigration; banking and finance; commercial; healthcare; smart homes; and other applications. The study also forecasts the size of the market in 4 main regions?North America, Europe, APAC, and RoW.
Reasons To Buy the report
The report would help the market leaders/new entrants in this market in the following ways:
- This report segments the fingerprint sensor market comprehensively and provides the closest approximation of the overall market size and those of the subsegments across different types, technologies, applications, and regions.
- The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, and opportunities for the growth of the market.
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business.
- The competitive landscape section includes competitor ecosystem, and product launches, partnerships, and mergers and acquisitions carried out by the major players in the market.