The fingerprint sensors revenue by the end of 2021 was US$ 3.4 Billion. The market is expected to reach US$ 10.2 Billion by 2032, as it is estimated to grow at a CAGR of 10.6% from 2022 to 2032.
| Attributes | Details |
|---|---|
| Estimated Year (2022) Market Value | US$ 3.7 Billion |
| Projected Year (2032) Market Value | US$ 10.2 Billion |
| CAGR% (2022 to 2032) | 10.6% |
| Top 5 Vendor Market Share | Around 35% |
The biometric security system's fingerprint sensor reads a person's fingerprints, which are subsequently used to confirm that person's identification. It records high-contrast fingerprint images as fingerprint minutiae and turns them into digital code. The fingerprint sensor may be easily implemented into a variety of devices and is practical, quick, dependable, and affordable. As a result, it has applications in a variety of industries throughout the world, including government and law enforcement, healthcare, consumer electronics, defense, travel, and immigration sectors across aerospace, and banking, financial services, and insurance (BFSI).
The fingerprint sensors market consists of 15% of the global biometric system market.
The fingerprint sensors market is estimated to grow at a CAGR of 10.6% for the forecast period.
Growth in market value is fuelled by increasing modernization, urbanization, and globalization. Other factors influencing the growth of the market include the rise in cyber threats and security breach worries, the development of technologies to enhance the performance of fingerprint sensors, and the expansion of the e-commerce sector. Furthermore, economic opportunities for market participants are expanded by advances in manufacturing technology. Additionally, rising demand for fingerprint sensor applications in the internet of things (IoT) will accelerate market expansion in the future.
Systems for biometric recognition have become a crucial component of security measures for many purposes, such as combating online and offline fraud and tracking employee attendance. Therefore, biometric authentication has become a necessity of the hour, and as a result, this technology is now present in all modern gadgets, including smartphones, tablets, PCs, wearable technology, and laptops.
Fingerprint sensing technology is quickly being incorporated into consumer electronics due to its popularity and distinctive properties, such as the capacity to collect characteristics like valleys, ridges, and minute points unique to each individual.
North America is estimated to have the largest market share for fingerprint sensors throughout the forecast period at 28.6%, while South Asia and the Pacific (SAP) are expected to have the fastest CAGR during the forecast period of 12.4%.
For security and identification purposes, North America has numerous producers and sellers of fingerprint sensors, and this technology is used across numerous domains and sectors in this region. There are improvements in reception technology and pattern recognition technologies.
Growing industrialization and implementation of electronic hardware in numerous domains in the SAP region are driving the growth of fingerprint scanners in SAP. Certain industries, like coaching and education, are some of the largest across the globe, which happen to be strong users of the fingerprint biometrics market. This is also one of the fastest-growing industries in SAP, allowing South Asia and the Pacific to be the fastest-growing regions for the fingerprint sensors market.
China is a large manufacturer of consumer electronic products and devices and numerous devices which fall under this category come with fingerprint sensors, such as smartphones. China has numerous smartphone manufacturers which operate in numerous countries outside its borders and also has the largest base of smartphone users.
Due to this reason, China is one of the largest markets and manufacturers of fingerprint scanner market.
A recent development in the USA for the fingerprint sensor market has been the introduction of biometric cards, which could be used as debit and credit cards. The technology can allow only the user of the card to access and utilize the card for his or her purposes. Smart cards, which store the user’s fingerprints, are not only restricted to debit and credit cards in the USA.
India has over the past few years seen rapid growth in the boom of start-ups and small enterprises, numerous enterprises have also grown in size, employee strength, and geographical presence.
Keeping track of the employees, and people entering the premises, and identifying their hours of work and attendance are multiple reasons to implement fingerprint sensors in India. The rate at which the enterprises are sprouting and expanding is continuing due to economic growth.
Due to these reasons, the fingerprint sensors market is estimated to witness rapid growth over the forecast period.
Touch fingerprint sensors are standard in most wearable and IoT products today. Touch Fingerprint Sensors are used in a variety of display applications, from smart homes and appliances to security and industrial solutions. Touch fingerprint sensors are being used more and more in displays. Especially with smartphones and tablets.
There are two general types of touch sensors, which are capacitive sensors and resistive sensors. The advantages of using capacitive touch fingerprint sensors include bright, crisp images due to the glass layer; high sensitivity to touch; and support for multi-touch functionality. The advantages of resistive touch fingerprint sensors over capacitive touch sensors are that they can be used with finger, glove, and stylus compatibility, as well as dust and water resistance.
Due to these factors, the touch fingerprint sensor has the largest market share of 45.6% in 2021.
It is the latest fingerprint-reading technology that has recently appeared on smartphones. Unlike the other two types of fingerprint sensors, which use lights or condensers, the ultrasonic sensor uses very high-frequency ultrasound. The sensor does a great job by allowing manufacturers to eliminate or minimize bezels around screens.
This is only possible because sensors can be easily implemented under the display of any electronic device. The fingerprint ultrasonic sensor identifies the pattern quickly and concisely, providing accuracy to fingerprint sensor devices. thus driving the growth of the fingerprint sensor market.
For these reasons, ultrasonic sensors are estimated to grow at a CAGR of 13.3% over the forecast period.
When Apple released the iPhone 5s, the phone's fingerprint solution got a lot of attention. Fingerprint sensors offer the benefits of both the highest security as well as user convenience. Fingerprint scanners have become a super-secure alternative to remembering the indefinite numbers of PINs, usernames, and passwords stored on your phone.
Fast speeds and a hidden in-display design ensure that it stays in place despite the growing adoption of expensive face-unlocking technology. The widespread adoption of secure mobile payment systems means that these scanners will remain an important security tool well into the future.
The field that has been used in multiple situations that require safeguarding secrets or authentications has gradually started to employ fingerprints because of their uniqueness and immutability, which plays a role in identification. In the current fingerprint recognition system, optical fingerprint sensors are frequently used to collect fingerprints or to read fingerprints.
After a finger is imaged with a fingerprint sensor, this information is transferred to a database of a connected computer system, where canned data is then checked for identity using the fingerprint owner's identification. An optical fingerprint sensor typically consists of a casing assembly, a prism, and a light source assembly. The prism is separated into a dark background prism and a brilliant background prism depending on whether or not background surfaces are present.
Companies that provide fingerprint sensors are either companies that have a wide range of offerings of electronic components or are companies that specialize in providing security solutions and fingerprint sensors are one of their primary offerings.
| Attribute | Details |
|---|---|
| Market value in 2021 | US$ 3.4 Billion |
| Market CAGR 2022 to 2032 | 10.6% |
| Share of top 5 players | Around 35% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America, Latin America, Europe, South Asia & Pacific, East Asia, and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey, and South Africa |
| Key Segments Covered | Type, Sensor Technology, Application, Material, and Region |
| Key Companies Profiled |
|
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Some leading fingerprint sensors are Thales Group, Anviz Global, NEC Corporation, Synaptics Incorporated, and fingerprint Cards AB.
South Asia and the Pacific are estimated to have the highest growth for fingerprint sensors during the forecast period at 12.4%.
Keeping track of employee attendance and productivity.
Touch had the largest market share for fingerprint sensors at 45.6% in 2021.
The area has the highest CAGR of 10.8% for the forecast period.
USA, United Kingdom, Germany, China, Japan, and India.
The market share of South Asia and the Pacific for the year 2021 for fingerprint sensors was 14.2%.
North America had a market share of 28.6% in 2021 for fingerprint sensors.
India has the highest CAGR for the forecast period, which is 12.2%.
The estimated market value for fingerprint sensors for the year 2023 is US$ 4.1 Billion.
For the East Asia region, the CAGR for the forecast period is estimated to be 7.8% for fingerprint sensors.
Explore Similar Insights
Fingerprint Sensors Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
