Fingerprint Sensor Market Size to Grow by USD 5.92 Billion | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends | Vantage Market Research

WASHINGTON, May 02, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Fingerprint Sensor Market finds that increasing use of electrical equipment and machines as well as increase in global electricity consumption, are factors that influencing the growth of Fingerprint Sensor Market.

The total Global Fingerprint Sensor Market is estimated to reach USD 5.92 Billion by the year 2028. The Global Market revenue stood at USD 3.21 Billion in the year 2021 and is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 10.7%, states Vantage Market Research, in a report, titled “Fingerprint Sensor Market Size, Share & Trends Analysis Report by Technology (Capacitive, Optical, Thermal, Ultrasonic), by Sensor Technology (2D, 3D), by Type (Area and Touch Sensors, Swipe Sensors), by Different Materials Used (Qualitative) (Piezoelectric Materials (Quartz), Pyroelectric Materials (Lithium Tantalate), Adhesives, Coating Materials), by Products (Qualitative) (Authentication system in smart device, Attendance recording system, Access Control Systems, Biometric Smartcards), by End-Use (Consumer Electronics, Travel and Immigration, Government and Law Enforcement, Banking & Finance), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Market Dynamics:

Drivers:

Increasing Demand for Consumer Devices with Fingerprint Sensor across the Globe

Governments across the globe is focusing on digitalization. Thus, taking several initiatives, and increasing fundings for development of better security for networks and services to motivate population. This is increasing the demand for smartphones, tablets, PCs, notebooks, wearable devices, etc. Thus, along with the increasing demand for such consumer devices, the major concern rising is regarding security. Thus, introduction of fingerprint sensor technology has increased the security of the smartphones, in turn, increasing the demand for smartphones. Hence driving the market growth over the forecast period. Moreover, mobile payment transitions is also increasing. Thus, introduction of fingerprint sensors fur authentication is further helping to increasing adoption of smartphones. Ultimately, driving the market growth. According to India Cellular & Electronics Association (ICEA), E-transactions in India have grown from 761 Cr in 2015 to 4266 Cr in 2018, at a CAGR of 77%.

Key Insights & Findings from the Report:

• According to our primary respondents’ research, the Fingerprint Sensor market is predicted to grow at a CAGR of roughly 10.7% during the forecast period.
• The Fingerprint Sensor market was estimated to be worth roughly USD 3.21 Billion in 2021 and is expected to reach USD 5.92 Billion by 2028; based on primary research.
• On the basis of region, Asia Pacific is projected to dominate the worldwide Fingerprint Sensor market.
  

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Segmentation of the Global Fingerprint Sensor Market:

• Technology
  • Capacitive
  • Optical
  • Thermal
  • Ultrasonic
• Sensor Technology
  • 2D
  • 3D
• Type
  • Area and Touch Sensors
  • Swipe Sensors
• D Materials Used (Qualitative)
  • Piezoelectric Materials (Quartz)
  • Pyroelectric Materials (Lithium Tantalate)
  • Adhesives
  • Coating Materials
• Products (Qualitative)
  • Authentication system in smart device
  • Attendance recording system
  • Access Control Systems
  • Biometric Smartcards
  • Others
• End-Use
  • Consumer Electronics
  • Travel and Immigration
  • Government and Law Enforcement
  • Banking & Finance
  • Commercial
  • Automotive
  • Smart Homes
  • Healthcare
  • Military, Defense, and Aerospace
  • Others
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
    

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Increasing Investments from Government as well as Major Players and Extensive Use of Fingerprint Sensors in Biometric Authentication

Biometric recognition systems have become a vital fragment of security measures for multiple applications such as, maintaining the attendance of employees and overcoming the challenges of online and offline scams. Additionally, increasing investments from government as well as major players is further propelling the market growth. For instance, Samsung Company announced plan to invest ~Rs. 3.7 lakh crore (~US$ 50 billion) in India over the next five years to manufacture phones. It plans to produce phones worth Rs. 2.2 lakh crore (~US$ 30 billion), priced above Rs. 15,000 (~US$ 200), under the PLI scheme. Additionally, TATA GROUP: Plans to invest ~Rs. 11,000 crores (~US$ 1.5 billion) for a new mobile phone and component manufacturing plant in Tamil Nadu to take advantage of the govt.’s PLI scheme. Thus, increasing investments is anticipated to drive the market growth over the forecast period.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

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The Report on Fingerprint Sensor Market Highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Global and Regional Dynamics
  

Regional Analysis:

Asia Pacific Holds Maximum Market Share

Asia Pacific is expected to dominate the growth of Fingerprint Sensor Market in 2021. The major driving factors for the market are increasing adoption of smartphones, tablets, PCs, notebooks, wearable devices, etc in region. Additionally, presence of major players in the region engaged in markets such as Samsung Electronics (South Korea), Huawei (China), Xiaomi (China), Lenovo (China), and LG Electronics (South Korea), and large base of obese population which is increasing the demand for herbal tea in the region.

List of Prominent Players in the Fingerprint Sensor Market:

• Goodix (China)
• Fingerprint Cards AB (Sweden)
• Synaptics (US)
• Apple Inc. (US)
• Egis Technology (Taiwan)
• Crucialtec (South Korea)
• Next Biometrics (Norway)
• Novatek Microelectronics (Taiwan)
• Qualcomm (US)
• Q Technology (China)
• CMOS Sensor Inc. (US)
• ELAN Micro electonics (Taiwan)
• Focaltech (China)
• ID3 Technologies (France)
• IDEX Biometrics (Norway)
• Japan Display Inc. (Japan)
• OXI Technology (China)
• Sonavation Inc. (US)
• Touch Biometrix (UK)
• Vkansee (US)

Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Fingerprint Sensor Market Size, Share & Trends Analysis Report by Technology (Capacitive, Optical, Thermal, Ultrasonic), by Sensor Technology (2D, 3D), by Type (Area and Touch Sensors, Swipe Sensors), by Different Materials Used (Qualitative) (Piezoelectric Materials (Quartz), Pyroelectric Materials (Lithium Tantalate), Adhesives, Coating Materials), by Products (Qualitative) (Authentication system in smart device, Attendance recording system, Access Control Systems, Biometric Smartcards), by End-Use (Consumer Electronics, Travel and Immigration, Government and Law Enforcement, Banking & Finance), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/fingerprint-sensor-market-232986

Recent Developments:

January 2020: Goodix acquired Dream Chip Technologies GmbH (DCT) as a key step for constructing diversified strategy and integrating global engineering talent. DCT's advanced technologies, product offerings, and market penetration accelerated Goodix's ability to rapidly deliver integrated solutions for smart mobile devices and automotive applications, serving an expanding worldwide customer base.

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the Fingerprint Sensor Market?
• How will the Fingerprint Sensor Market change in the upcoming six years?
• Which application and product will take a lion’s share of the Fingerprint Sensor Market?     
• What is the Fingerprint Sensor market drivers and restrictions?
• What will be the CAGR and size of the Fingerprint Sensor Market throughout the forecast period?   

This market titled “Fingerprint Sensor Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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