The Global Fingerprint Sensor Market to grow at a Staggering CAGR of 14.8%.

Introduction

Fingerprint sensors are used to find and verify a person's fingerprints in biometric fingerprint scanners. Most of these things are built into fingerprint detection modules and are used to keep things safe and make sure they are real. A biometric fingerprint scanner is based on unique fingerprint biometric technology; its main features are accuracy, better performance, and durability. The fingerprint scanner is a very safe and useful tool. How well a fingerprint sensor works depends mostly on how it is used. 

Fingerprint sensors make it easy to keep records and quickly keep control of the gates. They are less expensive than some other biometric security systems. The market for fingerprint sensors grows even more because of these things. The global fingerprint sensor market share is also growing because governments and law enforcement agencies use fingerprint sensors a lot in biometric systems to make their security better. Also, more companies and government agencies are using biometric time and attendance systems to track workers' hours of service and productivity.

An increase in the use of Fingerprint Sensors for Biometric Authentication in consumer electronics and the rise in the adoption of Biometric Authentication by Governments is driving the global fingerprint sensor market forward.

Consumer electronics are used by more and more people every day, so security needs to be checked. This is especially important for devices that use smart technology to keep data safe from security breaches. When biometric authentication is used in consumer electronics, it makes up for the weaknesses of older security methods like passwords and patterns, which can be forgotten or stolen. With fingerprint sensors in consumer electronics, it is quick and easy to get in and out, and the right person can be confirmed. Fingerprint authentication is used in a lot of consumer electronics because of all of these benefits, which help the market grow.

In many places, biometrics is becoming more popular because it can be used to identify people in a unique way. At the moment, governments use biometrics for a lot of different things, like managing borders, defending the country, screening employees, providing health care, and keeping people safe. In the past, passenger biometrics were used at airports to check immigration and criminal databases. In many government agencies, biometrics were used to check whether or not a person was eligible for government benefits. As fraud in government work and employee attendance has gotten worse, many governments have made biometric authentication a requirement for a lot of services and activities. Also, biometric authentication is used in many government buildings for different services to make the government run better.

The Emerging Trend toward IoT-based Biometric Technology and the increased adoption of in-display Fingerprint Sensors in Smart Phones are creating huge opportunities in the global fingerprint sensor market.

In biometrics, IoT (internet of things) is a key part of making the process of saving biometric data better by keeping data safe and encrypted by monitoring guarded systems and speeding up data analysis. Also, the introduction of Raspberry Pi and cloud technology has saved money and made biometrics more secure, which is why fingerprint sensors are used for authentication all over the world.

In-display fingerprint technology is used in many of today's best phones because it has a larger area to scan a finger and offers the best user experience. The in-display fingerprint sensor works with both dry and wet fingers, and its optical sensor is very thin and does not take up much room in a phone. Also, the in-display fingerprint sensor looks at a finger faster than other sensors. All of these benefits make it possible for fingerprint sensors to be built into smartphone screens. With the use of in-display fingerprint sensors, the market is expected to get better over time. This is why there is constant research and development in the fingerprint sensor market, which is creating huge opportunities for new start-ups and sensor manufacturers.

Regional Analysis of the Global Fingerprint Sensor Market

The global fingerprint sensor market is mostly split into three regions: North America, Europe, and Asia-Pacific, where the Asia-Pacific region is the largest contributor to the global fingerprint sensor market.

North America

The fingerprint sensor market in North America is growing quickly because technology is getting better and more people in the area are buying smartphones, smart cars, and smart homes. It is driven by new technologies, a high per capita income, and early adoption of new technologies by both the private and public sectors. In 2021, it was worth USD 1.01 billion, and it is expected to reach USD 2.9 billion by 2030, with a CAGR of 12.5%.

Europe

The fingerprint sensor market in Europe has grown exponentially, thanks to industries like medical and health care, smartphones, and smart cities. With automation, smart homes, and smartphones all getting smarter, there is a big chance that the fingerprint sensor market in Europe will grow. This is why the market in Europe was worth USD 0.824 billion in 2021 and is expected to grow to USD 2.7 billion in 2030, with a compound annual growth rate (CAGR) of 14.1%.

Asia-Pacific

In 2019, the Asia-Pacific region was a region where the use of sensor technologies grew the most. The advanced technologies that help the fingerprint sensor market grow have a lot of room to grow in the said region. When it comes to technology, India, China, and Japan are the most advanced in the area. The growth of the sensor market and the defence industry is also driving the fingerprint sensor market. In 2021, the region's huge revenue was USD 2.3 billion, and it is expected to reach USD 9.1 billion by 2030, with a CAGR of 16.5%.

Key Highlights

• The Global Fingerprint Sensor Market to grow to USD 13.3 billion in 2030 with a CAGR of 14.8% from the early figure of USD 3.8 billion in 2021. 
• The FAP 30 segment in the by type segmentation owes the major share of the global fingerprint sensor market, which stood at USD 1.41 billion in 2021 and is expected to grow to USD 6.7 billion by 2030 with a CAGR of 18.8%. 
• The global fingerprint sensor market, when segmented by end-use, the Government & Law Enforcement have the major market share, which recorded a market value of USD 1.5 billion in 2021 and is expected to reach USD 5.2 billion by 2030 with a CAGR of 14.9%.
• Regional analysis of the global fingerprint sensor market clearly states that the Asia-Pacific region has the highest market share with a market value of USD 2.3 billion in 2021 and is expected to grow to USD 9.1 billion by 2030 with a CAGR of 16.5%

Competitive Players

1. Thales
2. IDEMIA
3. Apple Inc.
4. Synaptics Incorporated
5. Egis Technology Inc.
6. 3M Cogent Inc.
7. Crossmatch
8. Secugen Corporation
9. HID Global Corporation
10. Synaptics Incorporated
11. Shenzhen Goodix Technology Co., Ltd
12. Edge Electronics
13. Egis Technology Inc
14. Qualcomm Technologies, Inc
15. Vicharak
16. M2SYS Technology
17. Mantra Softech India Pvt Ltd
18. ELAN Microelectronics Corp

Recent Developments

Recent Developments

• July 2024 - Goodix and Samsung implemented novel fingerprint enrollment techniques with the objective of expanding customer convenience and bolstering security on their most recent gadgets. Goodix, a manufacturer of biometric sensors, has created a function called "sliding enrollment" for fingerprint sensors embedded in the display. This feature is first introduced in the Iqoo Neo 9s Pro Plus.
• March 2024 - SmartMetric, Inc. (OTC: SMME) obtained patents from the United States Patent Office. These patents, granted to SmartMetric by its founder, Chaya Hendrick, grant SmartMetric exclusive rights to use biometric fingerprint sensor technology in credit cards in the USA. The awarded patents detail a credit card or debit card equipped with an EMV chip and a fingerprint sensor integrated into the card's surface.

Segmentation

1. By Technology
   1. Optical Fingerprint Sensor
   2. Capacitive Fingerprint Sensor
   3. Ultrasonic Fingerprint Sensor
   4. Thermal Fingerprint Sensor
2. By Fingerprint Sensor Type
   1. Area Sensor
   2. Swipe Sensor
   3. Touch Sensor
3. By Application
   1. Consumer Electronics
   2. Banking and Finance
   3. Smart Homes
   4. Commercial Spaces
   5. Government and Law Enforcement
   6. Military, Defense, and Aerospace
   7. Healthcare
   8. Others