Fingerprint Sensor Market Size Worth USD 6.19 Billion By 2028 | CAGR: 8.60%: IMR

Market Overview:
The Fingerprint Sensor Market is projected to grow USD 3.48 billion in 2021, it is expected to reach USD 6.19 Billion by 2028, growing at a CAGR of 8.60% during the forecast period 2022 - 2028.

A fingerprint sensor is a biometric security system technology that scans an individual's fingerprints and is then used to authenticate their identity. These sensors capture high-contrast fingerprint images and convert them into digital code and finally store them as fingerprint minutiae. These sensors are fast, reliable, convenient, and cost-effective and can be seamlessly integrated into different kinds of devices. Due to all the benefits offered by a fingerprint sensor, it finds application across various sectors including consumer electronics, government and law enforcement, aerospace, healthcare, defense and military, banking, travel, and others.

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Also, the increasing instances of security breaches across those industries are driving the sales of fingerprint sensors. These devices are employed for the purpose of strengthening the authentication process and providing secure access control to numerous facilities and IT systems. These sensors are gaining widespread adoption in digitizing time and attendance systems in corporate and government organizations.

Market Dynamics:
Driver:
The rise in the use of fingerprint sensors in consumer devices, and the effective implementation of biometric time and attendance systems for calculating employee productivity, work hours, and others, are driving the market growth. Moreover, the increasing adoption of biometrics by governments worldwide for enhanced security is the key factor driving the growth of the fingerprint sensor market. Also, the introduction of optical fingerprint sensors in smartphones and other consumer electronics is also driving the growth.

Opportunities:
The growing advancement in fingerprint sensors with the incorporation of Artificial Intelligence (AI) in fingerprint sensors to enhance the accuracy and authentication process, and the growing demand for fingerprint sensors are some of the important factors that are expected to drive the market growth during the forecast period. Moreover, the adoption of fingerprints across several government organizations is also acting as an opportunity for market growth.

Market Segmentation Analysis
Segmentation Analysis of Fingerprint Sensor Market:
Depending on Technology, Fingerprint Sensor Market is segmented into optical, capacitive, ultrasonic, thermal, and optical-capacitive. The ultrasonic segment is anticipated to dominate the fingerprint sensor market in the period of forecast. Scanning for some seconds generates data which is more precise and fingerprint data in depth can be captured, which results in a highly specific and more accurate 3D generation of the scanned fingerprint. The 3D capture technique makes it an even more secure alternative among the other technologies available. All these factors are promoting the growth of the ultrasonic segment. The capacitive segment is expected to have the second-highest share of the market owing to their high use of smartphones for fingerprint recognition and authentication.
• Optical
• Capacitive
• Ultrasonic
• Optical-Capacitive
• Thermal

Depending on Sensing Process, the 2D sensing process is expected to grow at a significant rate owing to its low cost and small size. Moreover, many OEMs are using 2D sensing in mobile phones for faster interpretation and scanning processes. The 3D sensing process is forecasted to grow at a rapid rate owing to the accurate generation and analysis of fingerprints. Furthermore, the research and development in the 3D sensing process are promoting the expansion of this segment.
• 2D
• 3D

Depending on Type, the touch segment of the fingerprint sensors market is going to have the highest share of the market in the period of forecast owing to ease in availability, favorable prices, and small convenient shapes and sizes. Touch sensors are widely used in mobile phones and biometrics due to their high accuracy recognition quality.
• Touch
• Swipe

Depending on Applications, biometrics for digital locks and systems for granting access are expected to dominate the fingerprint sensor market in the period of forecast. The growing use of mobile phones having fingerprint sensors and digital locks used in houses as well as in other sectors to prevent the entry of unrecognized individuals is supporting the growth of this segment.
• Access Controls
• Biometric Smartcards
• Others

Depending on End-User Industries, the consumer electronics segment is expected to have the highest share in the fingerprint sensor market. The growing demand for fingerprint sensors in PCs, laptops, mobile phones, tablets, and wearables is propelling the growth of this segment. BFSI segment is forecasted to have the second-highest share of the fingerprint sensor market. With the increasing use of digital banking and to provide smooth and reliable consumer experience banking sectors are incorporating the use of fingerprint sensors. Moreover, preventing fraud due to card loss is supporting the growth of the BFSI segment.
• Consumer Electronics
• Travel and Immigration
• Government and Law Enforcement
• Banking & Finance
• Commercial
• Automotive
• Smart Homes
• Healthcare
• Military, Defense and Aerospace

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Regional analysis of Fingerprint Sensor Market:
Asia-Pacific region is expected to dominate the fingerprint sensor in the period of forecast owing to the high number of mobile phone operators in countries such as China and India. Furthermore, the number of consumer electronics in countries such as Japan, South Korea, China, and India is very high. The growing adoption of fingerprint sensors in government buildings, banking and finance, law enforcement, and private institutions is propelling the fingerprint sensor market expansion in this region. The government of India has implemented the use of UIDAI for unique identification of individual citizen that is registered with a fingerprint is anticipated to propel the growth of fingerprint sensor market. Similar initiatives are being taken by several governments around the globe, thus leading to the growing demand for fingerprint sensors in the period of forecast.

Followed by Asia-Pacific, the North American region is anticipated to have the second-highest share of the fingerprint sensor market throughout the forecast. The growth in this region is attributed to advancements in technology and the use of fingerprint sensors in almost every sector. The rising awareness of fingerprint sensors and the ease of availability are fueling the development of the fingerprint sensor market. Countries such as the USA and Canada are using fingerprint sensors to keep a record of criminals.

The European region is forecasted to have a significant growth in the period of forecast. The rapid growth in the adoption of consumer electronics having fingerprint sensors and the incorporation of fingerprint sensors by government authorities in banking and to keep records of citizens is propelling the market growth in this region.

Middle-East, Africa, and South America regions are expected to have a slow but significant growth owing to the rise in use of consumer electronics specifically smartphones thus strengthening the growth of the fingerprint sensor market in these regions.
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in Fingerprint Sensor market are:
• Goodix (China)
• Shenzhen Goodix Technology Co. Ltd (China)
• CrucialTec (South Korea)
• Apple Inc. (US)
• FINGERPRINT CARDS AB (Sweden)
• EGiS Technologies Inc. (Taiwan)
• Qualcomm Technologies Inc. (the US)
• ELAN Microelectronics Corp. (Taiwan)
• IDEX Biometrics ASA (Norway)
• Synaptics Incorporated (US)
• PRECISE BIOMETRICS (Sweden)
• IDEMIA (France)
• Touch Biometrix (UK)
• Mantra Softech (India) Pvt. Ltd (India) and other Major Players.

Key Industry Developments in Fingerprint Sensor Market
In August 2021, Fingerprint Cards AB world-leading biometrics company, and Seshaasai, an innovative and top smart card manufacturer in India, have collaborated to launch, market, develop, and sell contactless biometric payment cards in India and the Asia-Pacific region. The card will have hallmark Fingerprints' Cards AB T-Shape module and software platform, which has ultra-low power utilization and is designed to be incorporated in payment cards using standard automated engineering processes.

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