The extensive use of fingerprint sensors in consumer devices, the effective implementation of biometric time and attendance systems for calculating employee productivity, work hours, and others, and the high adoption of biometrics by the governments worldwide for enhanced security are the key factors driving the growth of the fingerprint sensor market.
New York, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fingerprint Sensor Market with Covid–19 Impact by Technology, Type, Sensor Technology, Product, End–Use Application And Region - Global Forecast to 2026" - https://www.reportlinker.com/p04006887/?utm_source=GNW
However, threats pertaining to the biometric database are the major restraint that hinders the growth of the fingerprint sensor market.
On the contrary, the emergence of biometric smartcards in BFSI applications, the newest trend of in-display fingerprint sensors in smartphones, and the rise in the adoption of fingerprint sensors in IoT-based devices are likely to provide lucrative opportunities to the fingerprint sensor market players during 2021–2026. Moreover, the rising use of facial recognition technology in payments, access and security, and criminal identification applications pose challenges to the fingerprint sensor market.
Ultrasonic fingerprint sensors will have the highest growth in the coming years
The Ultrasonic fingerprint sensors segment is projected to register a higher CAGR from 2021 to 2026, Ultrasonic sensors read the epidermal skin layer as well as a dermal skin layer, capturing the fine details.Therefore, these sensors can read wet fingers and fingers with ruptured skin or damaged skin.
Advances in sensing technology are expected to accelerate the ultrasonic fingerprint sensor market growth.In terms of size, Capacitive is the leading technology in the fingerprint sensor market; this is mainly because of its low cost and high consumer acceptance.
Capacitive sensors can be highly compact and used in mobile and portable devices. Biometric smartcards, vehicle scanners, and smart locks are among a few of the emerging applications of capacitive fingerprint sensors, which would further provide growth opportunities for the capacitive sensor market.
Consumer Electronics end–use application is expected to hold the largest share in 2026
The consumer electronics application is likely to account for the largest size of the market for fingerprint sensors in the coming years mainly because of the rise in demand for these sensors in consumer devices such as smartphones, tablets, laptops, and notebooks. Consumer IoT devices are expected to provide opportunities for the market during the forecast period.
Banking and finance is expected to be the fastest-growing application during the forecast period due to the growing adoption of fingerprint sensors in smartcards used for payments.Several entities such as fingerprint sensor manufacturers, smartcard manufactures, and card issuers across the value chain are taking initiatives to increase the adoption of biometric payment cards across the world.
A few of the players include Fingerprint Cards, NEXT Biometrics, IDEX ASA, IDEMIA, Gemalto, Kona I, XH Smart, Goldpac, and issuers include AirPlus, Intesa Sanpaolo, Société GénéraleMACU, and Banks in the Middle East.In April 2019, the Royal Bank of Scotland (RBS) started its biometric payment card trial with customers in Scotland.
The card is provided by Gemalto and is using Fingerprints’ T-shape sensor module.
APAC is attributed to growing at the highest CAGR in the fingerprint sensor market during the forecast period (2021-2026)
APAC dominates the fingerprint sensor market mainly because consumer electronics is the key application for fingerprint sensors, and APAC is the major market for consumer electronics.Key countries in APAC include China, Japan, India, and South Korea.
Major demand for fingerprint sensors is propelled by OEMs based in China and South Korea.Major smartphone manufacturers in China include Huawei, Xiaomi, Oppo, and Vivo, while Samsung, based in South Korea, is one of the leaders in the smartphone market, which accelerates the fingerprint sensor market growth in APAC.
Other critical applications for which fingerprint sensors are adopted in APAC include banking and finance, government and law enforcement, and travel and immigration. A few of the leading players in the fingerprint sensor market in APAC are Goodix (China), EGIS Technology (Taiwan), Q Technology (China), and CrucialTec (South Korea).
The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 - 45%, Tier 2 - 32%, and Tier 3 - 23%
• By Designation: C-level Executives - 30%, Director Level - 45%, and Others - 25%
• By Region: North America - 26%, Europe - 40%, APAC - 22%, and RoW - 12%
Fingerprint sensor market was dominated by Goodix (China), Fingerprint Cards AB (Sweden), Synaptics (US), Apple Inc. (US), and Egis Technology (Taiwan).
This research report categorizes the fingerprint sensor market by technology, type, sensor technology, end-use application and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the fingerprint sensor market and forecasts the same till 2026.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the fingerprint sensor market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes product launches and developments, collaborations, contracts and acquisitions.
4. This report would help understand the pre and post-COVID-19 scenarios as to how would the penetration of fingerprint sensors will look like for the forecast period. The region segment includes the country wise impact analysis of COVID-19 and initiatives taken to overcome these impacts.
Read the full report: https://www.reportlinker.com/p04006887/?utm_source=GNW
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