Consumer biometrics drives fingerprint sensor market

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The fingerprint sensor market is projected to grow from USD 3.5 billion in 2019 to USD 7.1 billion by 2024 and is expected to record a compound annual growth rate (CAGR) of 15.3%, according to the latest information from Marketsandmarkets.

Extensive use of fingerprint sensors in consumer devices for biometric authentication and high adoption of biometrics by government bodies for enhanced security are major driving factors of the market. The emergence of biometric smart cards in BFSI applications and the newest trend of in-display fingerprint sensors in smartphones provide an opportunity for market growth.

Capacitive technology is expected to hold the largest share of the fingerprint sensor market. This is mainly because of the increasing use of capacitive sensors in devices such as smartphones, laptops, and other consumer electronics devices. Apart from consumer electronics, capacitive sensors are also being used in new applications such as door locks and start engine operations in automobiles. Hence, low cost and high consumer acceptance of capacitive fingerprint sensors is driving the growth for the fingerprint sensor market.

The analysts estimate that the consumer electronics end-use application will account for the largest portion of the fingerprint sensor market share by 2024. Increasing adoption of fingerprint sensors in smartphones to perform tasks such as unlocking phones & apps and making payments is expected to augment the growth of the fingerprint sensor industry. Increased security & privacy concerns in laptops, along with the efforts by OEMs to offer wearables with dynamic security features are some of the major factors affecting the growth of the market. Also, continuous developments and innovation in the fingerprint scanning technology in consumer electronics support market growth.

Geographically, it is the Asia Pacific region that is expected to exhibit the largest market share for fingerprint sensors through the course of the forecast period. Factors such as the presence of leading smartphone OEMs such as Samsung, Oppo, Vivo, and Xiaomi in China; rising adoption of biometrics systems in retail and enterprises; the need to reduce incidents of fraud and provide secure access to physical and logical assets in commercial applications; increasing awareness regarding the benefits of using fingerprint sensing technology among the masses, and cost-effectiveness of these sensors is expected to drive the growth of the APAC fingerprint sensor market. Goodix, Egis Technology, Q Technology, and Crucialtec are among the major players of the fingerprint sensor market in the APAC region.

Companies included in the report as being amongst the major players in this sector include: Shenzhen Goodix, Fingerprint Cards, Synaptics, Apple, Egis, Crucialtec, Next Biometrics, Novatek, Q Technology, Qualcomm, Idex Biometrics, CMOS Sensor, Elan, Focaltech, Id3, Idex Biometrics, Japan Display, Oxi, Sonavation, Touch Biometrix, and Vkansee.


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