Fingerprint Sensor Market

Market Synopsis:

The Global Fingerprint Sensor Market is valued at USD 3.31 Billion in the year 2022 and is projected to reach a value of USD 7.35 Billion by the year 2030. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 10.50% over the forecast period.

These devices have a fingerprint detection module built in and are used for safety and authenticity. Biometric fingerprint scanners, for example, use Fingerprint Sensor. A biometric fingerprint scanner's main characteristics are accuracy, improved performance, and robustness, all of which are based on proprietary Fingerprint Sensor technology. The optical Fingerprint Sensor allows authenticated users to quickly, securely, and easily access personal contact information, emails, payment information, location data, and other types of encrypted data. Fingerprint Sensor enable quick record keeping and control of attendance portals. They are less expensive than other biometric authentication systems. These factors contribute to the growth of the Fingerprint Sensor Market.

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Furthermore, the widespread use of Fingerprint Sensor-based biometric systems by governments and law enforcement agencies to improve security fuels the Global Fingerprint Sensor Market share growth. Furthermore, the increased adoption of biometric-based time and attendance systems in corporate and government organizations for measuring employee hours of service and productivity fuels the growth of the Fingerprint Sensor Market. The inclusion of optical fingerprint sensors in smartphones and other consumer electronics, government funding for Fingerprint Sensor adoption, and the use of biometrics in mobile commerce are the primary driving forces in the Fingerprint Sensor Market. The adoption of Fingerprint Sensor in smartphones to perform tasks such as unlocking phones and apps and making payments is expected to drive market growth. Fingerprint scanning technology's continuous advancements and innovations also contribute to the growth of the consumer electronics market.

Market Segmentation:

The Fingerprint Sensor Market is segmented on the basis of Technology, Sensor Technology, Type, Different Materials used (Qualitative), Products (Qualitative) and End use application. On the basis of Technology, the market is segmented into Capacitive, Optical, Thermal and Ultrasonic. On the basis of Sensor Technology, the market is segmented into 2D and 3D. On the basis of Type, the market is segmented into Area and Touch Sensors and Swipe Sensors. On the basis of Different Materials used (Qualitative), the market is segmented into Piezoelectric Materials (Quartz), Pyroelectric Materials (Lithium Tantalate), Adhesives and Coating Materials. On the basis of Products (Qualitative), the market is segmented into Authentication system in smart device, Attendance recording system, Access Control Systems, Biometric Smart cards and others. On the basis of End use application, the market is segmented into Consumer Electronics, Travel and Immigration, Government and Law Enforcement, Banking & Finance, Commercial, Automotive, Smart Homes, Healthcare, Military, Defense, and Aerospace and others.

Based on Sensor Technology

The 2D category dominates the market segment. Detection and ranging activities are best served by 2D sensor technology. Because of its low cost, the technology is still used by OEMs, especially in mobile devices that require smaller sensors, to manufacture downsized products that market end customers want. During the projected period, the 3D Fingerprint Sensor Market, on the other hand, is expected to rise at a quicker CAGR. 3D data provides the most accurate picture of a real fingerprint.

Based on End Use

On the basis of End use application, the market is segmented into Consumer Electronics, Travel and Immigration, Government and Law Enforcement, Banking & Finance, Commercial, Automotive, Smart Homes, Healthcare, Military, Defense, and Aerospace and others. Due to the increased demand for fingerprint sensors in consumer devices such as smartphones, tablets, laptops, and notebooks, the consumer electronics application is expected to account for the greatest revenue of the market for fingerprint sensors in the next years. Consumer IoT devices are expected to present market opportunities during the forecast period. Due to the increasing deployment of fingerprint sensors in smart cards used for payments, banking and finance is predicted to be the fastest-growing application throughout the projection period.

Asia Pacific Region to Stand Firm on its Leading Position in the Fingerprint Sensor Market

Asia Pacific acquired the largest market share during the year 2021 with a share of 39.10%. The growing use of biometric devices in various organizations, the rise of wearable devices, and growing security and safety concerns are expected to drive the fingerprint sensors market in the Asia Pacific region at a rapid pace over the forecast period. Increased mobile transactions in countries such as India and China are also expected to be significant drivers for the region's mobile biometrics market. Smartphone shipments in China are at an all-time high. It is also expected to drive the region's Fingerprint Sensor Market, with almost all recent smartphones incorporating them, whether capacitive or optical. Various governments around the world are incorporating such biometrics as part of the citizenship authentication process.