DUBLIN--(BUSINESS WIRE)--The "Fingerprint Sensors Market Research Report: By Type, Technology, Vertical -Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
With increasing security concerns, the uptake of fingerprint-sensing-technology-integrated smartphones is rising across the world. Seeing the growing demand, numerous smartphone manufacturers have started deploying this functionality in their products, in order to offer customers enhanced security and better convenience of changing their personal identification number (PIN) and password. Compared to 50% in 2017, almost 60% of the smartphones produced in 2018 had this technology.
This is one of the main reasons the global fingerprint sensors market is projected to grow at a 13.6% CAGR between 2020 and 2030, since generating $3.8 billion in revenue in 2019. Apart from such consumer electronics, the integration of fingerprint sensors is also surging in wearable devices and personal computers (PC).
Till 2030, faster rise in demand would be witnessed by area/touch sensors, which are better at sensing the fingerprint than swipe sensors. This is why the usage of area/touch sensors is rising swiftly in consumer electronics, especially smartphones.
Sensors based on the capacitive technology have garnered higher revenue in the industry till now, as they are cheaper than those working on other technologies. In addition, users get higher security and convenience of usage with capacitive-technology-based biometric sensors.
Historically, the government category held the largest share in the fingerprint sensors market, as the government of China, the U.S., India, Germany, and Mexico is strongly focused on authenticating the identity of people, especially for distributing public welfare services and benefits to the eligible people.
Asia-Pacific (APAC), which accounted for the highest procurement rate of fingerprint sensors in the past, is set to experience the highest CAGR in the industry in the immediate future. This would be a result of the rapid adoption of such instruments like biometric sensors by the government of India, China, and Indonesia, along with the surging uptake of fingerprint-sensors-integrated smartphones by the booming population, which is also experiencing an increase in its spending power.
Market Dynamics
Trends
- Increasing Use of In-Display Fingerprint Sensors
Drivers
- Increasing Adoption of Fingerprint Sensors in Consumer Electronic Devices
- Increasing Demand for Fingerprint Sensors in Government Sector
- Impact Analysis of Drivers on Market Forecast
Restraints
- Storage-Related Risks
- Impact Analysis of Restraints on Market Forecast
Opportunities
-
Emergence of Biometric Smart Cards in BFSI Sector
Companies Mentioned
- Synaptics Incorporated
- Fingerprint Cards AB
- Egis Technology Inc.
- Apple Inc.
- Qualcomm Incorporated
- Integrated Biometrics LLC
- Shenzhen Goodix Technology Co. Ltd.
- id3 Technologies
- NEXT Biometrics Group ASA
-
IDEX Biometrics ASA
For more information about this report visit https://www.researchandmarkets.com/r/d66cpv
