The global fingerprint sensor market reached a value of US$ 3.7 Billion in 2020. A fingerprint sensor is a component of the biometric security system that scans an individual’s fingerprints, which are then used to authenticate their identity. It captures high contrast fingerprint images and converts them into digital code and stores as fingerprint minutiae. The fingerprint sensor is fast, reliable, convenient, cost-effective and can be seamlessly integrated into different devices. As a result, it finds application in the consumer electronics, government and law enforcement, aerospace, healthcare, defense and military, and banking, financial services and insurance (BFSI), travel and immigration sectors across the globe.
The increasing instances of security breaches in various industries are driving the sales of fingerprint sensors. These devices are employed to strengthen the authentication process and provide secure access control to numerous facilities and IT systems. Apart from this, these sensors are gaining widespread adoption in digitizing time and attendance systems in corporate and government organizations worldwide. Furthermore, due to the growing trend of automation, fingerprint sensors are extensively being integrated into smartphones, wearables and modern vehicles to launch engine operations and unlock phones, applications and door locks. Besides this, the leading market players are incorporating advanced technologies, such as artificial intelligence (AI), to increase the accuracy of the authentication process and provide a personalized user experience, which, in turn, is strengthening the market growth. However, the market is negatively impacted by the sudden outbreak of the coronavirus disease (COVID-19) and the consequent lockdowns declared by the governing agencies of different countries. The market is anticipated to revive once normalcy is regained. Looking forward, IMARC Group expects the global fingerprint sensor market to reach a value of US$ 8.50 Billion by 2026, exhibiting a CAGR of 14.64% during 2021-2026.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global fingerprint sensor market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, technology and application.
Breakup by Type:
Area and Touch Sensors
Breakup by Technology:
Breakup by Application:
Government and Law Enforcement
Military, Defense and Aerospace
Travel and Immigration
Banking and Finance
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being 3M Cogent Inc., Anviz Global Inc., Apple Inc., BIO-Key International Inc., Egis Technology Inc, Fingerprint Cards AB, IDEMIA (Advent International Corporation), Idex Biometrics ASA, M2SYS Technology, Next Biometrics Group ASA, NEC Corporation, Qualcomm Technologies Inc., Shenzhen Goodix Technology Co. Ltd., Sonavation Inc., Synaptics Incorporated and Vkansee Technology Inc.
Key questions answered in this report:
How has the global fingerprint sensor market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global fingerprint sensor market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global fingerprint sensor market and who are the key players?
What is the degree of competition in the industry?