The fingerprint Sensor Market is anticipated to witness growth during the forecast period, owing to the rising application of scanners in electronic devices like laptops, tablets, and smartphones.
Fingerprint Sensor Market
It is a technology that authenticates and identifies the fingerprints of a person or individual to grant or deny access to a physical facility and computer system.
The Fingerprint Sensor Market is anticipated to witness growth during the forecast period, owing to the rising application of scanners in electronic devices like laptops, tablets, and smartphones.
Rising need for security in commercial offices, electronics applications, and other security related has created substantial growth opportunities for the fingerprint sensor market. The sensors provide a faster and more effective way to unlock devices and also keep them secure. The manufacturers are also adding features that will allow additional functions such as clicking pictures and swiping, this is anticipated to propel the adoption rate for the figure. Moreover, the market is also expected to bolster the rising demand for biometric devices in offices, corporate, and others for keeping a record of in & out timings of employees and also managing their attendance. Furthermore, the consumer electronics industry is significantly contributing to the growth of fingerprint sensors.
The significant increase in the demand for consumer electronic products has also helped in shaping the fingerprint sensor market growth. According to the consumer technology association, smartphones are being used in 87 percent of U.S. homes. Many smartphone manufacturers are using these components in entry-level phones as well. Additionally, the dropping prices of smartphones along with increasing market competition and rising demand for added features have caused the market players to implement these sensors in their electronics by established brands such as Xiaomi and Coolpad among others. Notebook and laptop manufacturers including HP Dell, Acer, and Asus have also introduced laptops with fingerprint sensors. The implementation of these sensors is also propelled owing to the rising concern related to data privacy and device security.
The fingerprint sensor market is segmented into technology, type, and end-use application. The technology segment is bifurcated into capacitive, optical, thermal, and ultrasonic. Capacitive sensor technology is anticipated to support market growth for the fingerprint sensor market in the anticipated period. The demand is surging owing to the use of capacitive sensors in numerous electronics like laptops, smartphones, and other electronic devices. Also, capacitive sensors are being used in new applications such as start engine and door locking operations in automobiles. Thus, gaining high consumer acceptance and low product cost is anticipated to propel market growth in the long run.
The Asia Pacific is anticipated to show significant growth over the forecast period. It will hold a substantial share owing to the presence of leading smartphone OEMs like Oppo, Samsung, and Xiaomi in the region. The demand is estimated to propel owing to the increasing acceptance of biometrics systems by enterprises and retailers. The above-mentioned projected to bolster market growth for the fingerprint sensor in the forecast period.
The noticeable players in the fingerprint sensor market include company and financial overview, business strategies adopted by them, their recent developments, and products offered by them which can help in assessing competition in the market. Noticeable players included in the report are Integrated Biometrics, Inc., Fingerprint Cards AB, Synaptics Incorporated, IDEX ASA, Vkansee Technology, Cross Match Holdings Inc., Q Technology, Goodix, Egis Technology, and CrucialTec among others.
The report segment the global fingerprint sensor market as follows:
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