The global fingerprint sensor market size 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. Biometric fingerprint scanners have fingerprint sensors that are used to find and authenticate fingerprints. Most of these devices are built into fingerprint detection modules and are used to keep things safe and make sure they are real. Based on unique fingerprint biometric technology, the main features of a biometric fingerprint scanner are accuracy, better performance, and durability. A fingerprint scanner is a very safe and useful tool. How a fingerprint sensor works mostly depends on how it is processed. Fingerprint processing is mostly made up of two steps: registering and matching.
Fingerprint sensors make it easy to keep records and control attendance gates quickly. They cost less than some other biometric authentication systems. These things make the market for fingerprint sensors grow even more. The global fingerprint sensor market share is also growing because governments and law enforcement agencies use biometric systems based on fingerprint sensors a lot in order to improve security. Also, the growth of the fingerprint sensor market is helped by the fact that more companies and government agencies are using biometric time and attendance systems to track workers' hours of service and productivity.
|Market Size||USD 13.3 billion in 2030|
|Fastest Growing Market||North America|
|Largest Market||Asia Pacific|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
Every day, more and more people use consumer electronics, which means security needs to be checked. This is especially important for devices that use smart technology to protect data 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 by others. With the use of fingerprint sensors in consumer electronics, it is fast and easy to get in and out, and the right person can be verified. With all of these benefits, fingerprint authentication is used in a lot of consumer electronics, which helps the market grow.
Biometrics has become more popular in many areas because it can be used to identify people in a unique way. At the moment, governments use biometrics for many different things, including managing borders, defence, screening employees, health care, and security. In the past, immigration and criminal database checks were done on passengers' biometrics at airports. In many government agencies, biometrics were used to check if a person could get benefits from government programs or not. As fraud in government work and employee attendance has gotten worse, many governments have made biometric authentication a requirement for many services and activities. Also, in order to run the government better, biometric authentication is being used in many government buildings for different services.
In the modern digital world we live in now, security threats are growing quickly and hampering the lives of people. As the internet connects the global financial and banking sectors, the information about consumers is very confidential and can be hacked. Organizations' current security systems have many loopholes and cannot protect them from high-level cyberattacks. The fingerprint sensors market is also driven by the growing demand for fingerprint technology that does not need to be touched. Touchless fingerprinting is used to solve security problems by keeping fingers from touching devices. This technology can really revolutionize the fingerprint sensors market and can take the market on an inclined path of growth in a quick time, matching the rapid rise in technology.
As biometric data is stored and accessed through the database, it is likely that the rise of biometric technology and its use in identifying and authenticating people will have a big effect on society. For storage to be safe, the data need to be protected. But using runtime encryption and local authentication of data makes the risk of threats to the biometric database less. But still, there can be a possibility where cyber-attacks can hack the storage database and leak the private information of people, which is a damn serious issue and need to be addressed as quickly as possible.
A big problem for key players is that it costs a lot to make different fingerprint sensors. Costs that come up during the whole process of making a sensor make it hard for consumers to buy these sensors. The price of the raw materials used to make biometric sensors has gone up a lot, making it harder for people to use these features. Due to the high costs of research and development (R&D), there is also not much room for manufacturers to keep prices down. Also, there are not enough good sensors being made, so there is more demand than supply. Also, the easy availability of low-cost technologies that do not use biometrics is likely to hurt the fingerprint sensor market.
IoT has been very important in the past few years. In biometrics, IoT (internet of things) is a key part of improving the process of saving biometric data 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 purposes widely across the world.
In-display fingerprint technology is used in many of today's top-of-the-line phones because it has a larger area to scan a finger, which gives the user the best 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 takes less time than other fingerprint sensors to look at a finger. So, all of these benefits make it possible for fingerprint sensors to be built into smartphone screens. With such use of in-display fingerprint sensors, the market is said to improve more with time, which is why there is continuous research and developments going on in the fingerprint sensor market that is creating huge opportunities for new start-ups and manufacturers of such sensors.
The global fingerprint sensor market is primarily segmented into three regions, namely – North America, Europe, and Asia-Pacific, out of which Asia-Pacific is the largest contributor to the global market of fingerprint sensors.
The fingerprint sensor market in North America is growing quickly because technology is getting better and more people are buying smartphones, smart cars, and smart homes in the area. It is driven by new technologies, a high per capita income, and the private and public sectors' early adoption of new technologies, which led to the figures of USD 1.01 billion in 2021 and is expected to reach USD 2.9 billion by 2030 with a CAGR of 12.5%.
Different industries, like medical and health care, smartphones, and smart cities, have helped the fingerprint sensor market in Europe grow. With automation, smart homes, and smartphones all getting smarter, there is a huge chance for the fingerprint sensor market in Europe to grow, which has led the region to acquire market figures of USD 0.824 billion in 2021 and grow to USD 2.7 billion in 2030 with a CAGR of 14.1%.
In 2019, the adoption of sensor technologies grew the most in the Asia-Pacific region. The said region has a lot of room for the growth of the advanced technologies that help the fingerprint sensor market grow. Countries like India, China, and Japan are the most advanced in the area when it comes to technology. Asia and the Pacific are slowly starting to use new technologies. The fingerprint sensor market is also being driven by the growth of the sensor market and the defense industry, which earned the region a whopping revenue that stands at USD 2.3 billion in 2021 and is expected to grow to USD 9.1 billion by 2030 with a CAGR of 16.5%.
The global fingerprint sensor market is segmented by type and by end-use.
The by type segmentation includes - FAP 10, FAP 20, and FAP 30 (where FAP stands for – Fingerprint Acquisition Profile), out of which the FAP 30 segment owes the major share of the global fingerprint sensor market.
The FAP 10 is a certified personal identification verification (PIV) finger sensor system with a single finger format and an image size of 12.7mm x 16.5mm. It is used in ATMs, laptops, industrial equipment, and other electronic devices. It had a market value of USD 1.62 billion in 2021 and is expected to grow to USD 4.7 billion by 2030 with a CAGR of 12.5%.
FAP 20 is twice as accurate as FAP 10 because it can only take a single fingerprint measuring 0.6 x 0.8 inches. It is a single-finger capture device that can connect to smartphones, laptops, and desktops to take a fingerprint. The FAP 20 sensor type accumulated a market value of USD 1.52 billion in 2021 and is expected to reach USD 4.9 billion by 2030 with a CAGR of 14%.
The FAP 30 is the most dominating type in the by-type segmentation of the global market, which had a market value of USD 1.41 billion in 2021 and is expected to grow to USD 6.7 billion by 2030 with a CAGR of 18.8%.
FAP 30 is a particle image velocimetry that has been approved by the FBI and can scan one or more fingers. Devices that are certified at a higher FAP can do the work of a lower FAP. Because of this, FAP 30 can be used to take pictures and send them instead of FAP10 or 20, which is why the FAP 30 segment is ruling the global market.
The global market, when segmented by end-use, it is further classified into - Government & Law Enforcement and Banking & Finance, out of which Government & Law Enforcement has the major market share.
The Government & Law Enforcement accounted for 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%. Governments use fingerprint sensors all over the world in many different areas, such as health care, border control, defense, employee screening, and security. Government agencies also use biometrics and fingerprint sensors to verify and identify people, which is why the said segmentation has its dominance over the market.
The Banking & Finance sector is one of those sectors that need a strong security system in terms of data and financial borrowings. The said segment had a market value of USD 1.07 billion in 2021 and is anticipated to reach USD 4.4 billion by 2030 with a CAGR of 17%. Most people think that systems that use fingerprint sensors to identify people are more reliable. Fraud is more likely to happen in the banking and finance industries. Lack of security technologies and weak authentication methods can lead to devastating losses of financial data and money, which is why fingerprint sensors are developed to make them more secure, contributing to the overall growth of the said market.