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Global Fingerprint Sensors Market to Reach $12.82 Billion by 2023

IT Market Research

Global Fingerprint Sensors Market - Focus on Area, Swipe and Touch Sensors, Technology- Capacitive, Optical, Ultrasonic, Thermal Sensors, and Applications.

The fingerprint authentication and identification technology are growing steadily owing to the global security and safety concerns faced in the present day. Moreover, government institutions (law enforcement, border security, ID issuance, and homeland security), healthcare, enterprises, banking and financial institutions, commercial and other bodies have adopted these applications to ensure overall protection and shelter to the population from any impending global crisis. The current drive towards cashless economy has compelled people to switch to digital banking or electronic transfers. The gradual rise in cashless transactions has led to an increase in digital threats and fraud in the last few years.

The fingerprint-based biometric authentication and identification market has a high potential in future owing to the rising demand for the fingerprint sensors in various end-user industries. The upcoming wave of biometrics devices is likely to undermine a number of industries such as healthcare, retail and commerce, banking and various financial institutions, consumer electronics, and many others. However, some of the challenges faced by these devices include the high cost of the products and privacy concerns.

According to a new market research report by BIS Research, titled ‘Global Fingerprint Sensors Market, Analysis, and Forecast, 2017-2023', the global market is expected to reach $12.82 billion by 2023. North America being an early adopter of fingerprint sensors boasts of market worth XX.XX million. However, APAC region being led by two developing nations, India and China is adopting the fingerprint sensors across various applications thus witnessing the fastest growth. The proliferation of smartphones coupled with government initiatives to adopt fingerprint sensors will drive the growth in the region.

On the basis of technology, capacitive sensors held the largest share of the market in 2016. However, it is optical sensors which are expected to witness the fastest growth in the future as significant developments and innovations are under process in optical sensors technology. In terms of application, Mobile Devices had the largest market share in 2016, whereas, it is automotive segment which is expected to grow at the fastest rate throughout the forecast period, growing at a CAGR of XX percent from 2017 to 2023. This growth is the result of an increasing interest of car manufacturers towards implementing fingerprint solutions in their cars so as to strengthen car's security.

Few Companies Mentioned in the Report:

  • 3M Cogent
  • 4G Identity Solutions
  • Anviz Global
  • Aware Inc.
  • BIO-Key International
  • Crossmatch Technologies
  • Diamond Fortress Technologies
  • Fingerprint Cards AB
  • FlexEnable
  • GenKey
  • HID Global
  • iPulse Systems
  • M2SYS Technology
  • NEC Corporation
  • NEXT Biometrics
  • Precise Biometrics
  • Safran Identity & Security (Morpho)

Key questions addressed in the report:

  • What are the major market drivers, challenges, and opportunities in the global fingerprint sensors market?
  • How will the fingerprint sensors market evolve and what is its scope in the future?
  • What is the market share of the leading segments and sub-segments of the global fingerprint sensors market in 2016 and 2023?
  • How will each segment of the global fingerprint sensors market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2023?
  • How will the industry evolve during the forecast period between 2016 and 2023?
  • What will be the growth rate of different segments during the forecast period? Which is the leading segment by the application?
  • How has the market been segmented on the basis of application?
  • Which geographical location will dominate the fingerprint sensors market?
  • What are the new strategies adopted by the existing market players to make a mark in the industry?
  • Who are the key players in the fingerprint sensors market?
  • What major opportunities do the fingerprint sensors companies foresee?
  • What strategies are adopted by fingerprint sensors manufacturers to sustain or grow in the market?
  • What are the impacts of recent big acquisitions in the fingerprint sensors market?

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