The automated method of verifying a match between two human fingerprints is technically termed as fingerprint recognition or fingerprint authentication. It is used to identify individuals & further verify their identification details. It is the oldest biometric technology used for identification.
The global fingerprint sensors market is anticipated to grow at a rate of 15.69% CAGR to capture $14.51 billion by 2027, during the forecast period. The base year considered for the market study is 2018 & the estimated period is between 2019 & 2027.
With the mounting user reception for biometric-enabled smart devices, the uptake of fingerprint biometrics in smart devices, like that of smartphones, laptops, & tablets, is increasing, that is creating a positive impact on market revenue. The governments across many countries are also imposing regulations for warranting the custom of fingerprint biometrics among the end-users. An increase in the usage of mobile devices among various end-users, such as government, enterprise, healthcare, & BFSI, will increase the need for security in the upcoming years.
An observation has been made with respect to one of the end-users with the largest reach, namely the healthcare sector. As more healthcare networks begin storing patient records electronically, they have become increasingly concerned with security, and thus, many are turning towards biometrics. However, the fingerprint biometric devices are vulnerable to spoofing, physical attack, & damage to cables & wires.
The report on global fingerprint sensors includes segmentation on the basis of various geographic regions. North America, Europe, Asia Pacific, and the remaining countries collectively forming the Rest of World regional segment are the major contributors by revenue for the market to proliferate further.
The Asia Pacific is the largest & the fastest growing market out of all other regions. It accounted for XX% of the total market share in 2018 in terms of revenue & is likely to grow further during the forecast period. The increasing usage of mobile devices & growth of fingerprint sensors in mobile devices is one of the key driving factors for the market in the region.
Bio-Key International, HID Global, OT-Morpho (Safran Identity & Security), Synaptics, Anviz Global, Fulcrum Biometrics, Innovatrics, M2SYS Technology, Gemalto NV, Precise Biometrics, Aware Inc., Crossmatch Technologies, NEC Corporation, Next Biometrics, and Fingerprint Cards AB are the major market players that have been exhaustively profiled in the report. Market share analysis, key company analysis, key corporate strategies along with company profiles of the key companies are detailed in the report. Most of the mentioned companies determine and apply the strategies like merger & acquisition, partnership, contracts, agreements, or new product launch to gain a competitive edge over each other.