USD 3.5 billion
Report ID: SQSG45J2036 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 176 | Figures: 79
Fingerprint Sensor Market size was valued at USD 3.5 billion in 2021 and is poised to grow from USD 3.88 billion in 2022 to USD 9.85 billion by 2030, growing at a CAGR of 10.9% in the forecast period (2023-2030).
The fingerprint sensor market includes the widespread use of fingerprint sensors in consumer devices, the successful implementation of biometric systems for calculating employee productivity, and work hours, and the rising adoption of biometrics by government agencies for enhanced security are key factors driving the market growth. The development of biometric smartcards in BFSI applications, the trend of in-display fingerprint sensors in smartphones, along with the rise in the deployment of fingerprint sensors in IoT-based devices. As of November 2021, Fingerprint Cards AB established two subsidiaries to increase strategic and financial potential in key mobile, PC, payments, and access industries. Before initiating a program of strategic diversification into the PC, access control, and payments areas, Fingerprint provided biometric solutions for Android handsets. These expansions and diversification of technology into various domain is propelling the demand for fingerprint sensors and driving the market throughout the analysis period.
US Fingerprint Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.5 billion
2D sensor technology
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The Global Fingerprint Sensor Market is segmented based on technology, materials used, product type, products, end-use, sensor technology, and region. Based on technology, the market is segmented into capacitive, optical, thermal, and ultrasonic. Based on product type, the Fingerprint Sensor Market is segmented into area touch sensors, and swipe sensors. Based on the materials used, the Fingerprint Sensor Market is segmented into piezoelectric materials, pyroelectric materials, lithium tantalate, adhesives, and coating materials. Based on the products, the Fingerprint Sensor Market is segmented into authentication systems in smart devices, attendance recording systems, access control systems, and biometric smartcards. Based on end-use, the Fingerprint Sensor Market is segmented into consumer electronics, travel and immigration, government and law enforcement, and banking & finance. Based on sensor technology, the market is segmented into 2D technology and 3D technology. Based on region, the global Fingerprint Sensor market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Fingerprint Sensor Market Analysis by Sensor Technology
In 2021, the 2D sensor technology accounted for the largest market share of the global fingerprint market and is expected to do so during the analysis period. This dominance is because 2D sensors excel in detection and range-finding tasks and the continuous adoption of the technology by manufacturers because of its low cost, particularly in mobile devices drives the market demand. However, the 3D fingerprint sensor segment is anticipated to grow at a higher CAGR throughout the forecast period as the most accurate representation of an actual fingerprint is provided by 3D sensors. Qualcomm and Touchless Biometric Systems TBS both provide 3D sensors for access control, attendance management, and other sensitive applications are some of the major factors propelling the market demand throughout the analysis period.
Fingerprint Sensor Market Analysis by End-Use
The fingerprint sensor market is segmented into consumer electronics, government and law enforcement, banking and financials, automotive, healthcare, military and defense, and many other fields based on its end-use of which the consumer electronics segment accounted for the largest market share in the year 2021. This dominance is due to the growing demand for fingerprint sensors in consumer electronics such as smartphones, tablets, and laptops. Moreover, IoT devices are expected to create market opportunities. Due to the rising deployment of fingerprint sensors in smart devices used for payments, banking and finance are predicted to be the fastest-growing sector of the fingerprint sensor market during the forecast period.
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In 2021, Asia Pacific held the largest global fingerprint sensor market share of more than 40 %. The growing use of biometric sensors in various companies, along with an increase in wearable devices, and rising security and safety concerns are anticipated to propel the fingerprint sensors market in the Asia Pacific region during the forecast period. Growing mobile transactions in countries like India and China are also anticipated to have a substantial impact on the mobile biometrics industry in the region. Smartphone shipments are at an all-time high in China. It is also anticipated to fuel the region's fingerprint sensor market, as nearly all modern smartphones use capacitive or optical fingerprint sensors which are expected to drive the market growth during the analysis period.
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Fingerprint Sensor Market Driver
Extensive use of fingerprint sensors for biometric authentication in consumer electronic devices driving the market growth.
Fingerprint Sensor Market Restraint
The increasing use of alternatives like face and iris scanning has restrained market growth.
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The Fingerprint Sensor market is relatively fragmented, with a high level of competition. Few large players, like Qualcomm, Fingerprint Cards AB, and Egis Technology Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Fingerprint Sensor Market Top Player’s Company Profiles
Fingerprint Sensor Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global fingerprint sensor market analysis, biometric sensors in consumer electronics and wearable devices are expected to drive the fingerprint sensor market in the Asia Pacific region. Growing mobile transactions in India and China are also anticipated to have a substantial impact on the mobile biometrics industry in the region. In 2021, the 2D sensor technology accounted for the largest market share of the global fingerprint market and is expected to do so during the analysis period. The 3D fingerprint sensor segment is anticipated to grow at a higher CAGR throughout the forecast period as the most accurate representation of an actual fingerprint is provided by 3D sensors. Qualcomm and Touchless Biometric Systems TBS both provide 3D sensors for access control, attendance management, and other sensitive applications are some of the major factors propelling the market demand throughout the analysis period.
|Market size value in 2021||USD 3.5 billion|
|Market size value in 2030||USD 3.88 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Fingerprint Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Fingerprint Sensor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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