Fingerprint Sensors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The fingerprint sensors market was valued at USD 6. 93 billion in 2021 and is expected to reach USD 13. 49 billion by 2027 and grow at a CAGR of 11. 96% over the forecast period (2022 - 2027). The fingerprint sensors market has expanded rapidly over the past few years, and it is projected to increase even further during the forecast period.

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New York, May 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fingerprint Sensors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06279491/?utm_source=GNW
Increased adoption of smartphones, increasing security applications, and government initiatives to adopt biometrics tend to be the key factors driving the demand for fingerprint sensors globally.

Key Highlights
The fingerprint is among the prominent type of biometrics used in various devices and application fields, owing to which the demand for fingerprint sensors is on the rise. Moreover, according to the survey carried out by Biometrics Institute for 360 respondents across the globe in June 2021, 56% of the respondents from Europe agree with strict legislation with respect to the use of biometrics.
The growing penetration of smartphones, which are equipped with fingerprint sensors, is among the prominent driver of the growth of fingerprint sensors. For instance, as reported by counterpoint, In Q1 of 2021, the shipment of smartphones like Samsung approximately accounted for 77 million globally, and shipments of iPhones globally approximately accounted for 57 million.
In line with that, the number of smart devices, such as tablets, laptops, smartphones, and smart wearables per person, is expected to increase over the coming years; these devices are increasingly being incorporated with fingerprint sensors. According to Cisco, in 2018, the number of networked devices per person stood at eight and is expected to reach 13.6 per person by 2022.
The penetration of smartphones is increasing exponentially, owing to the increasing influence of fast internet access, and with the advent of 5G, smartphone penetration is expected to increase even further. According to GSMA, in North America, the number of smartphone subscribers is expected to reach 328 million by the year 2025. Moreover, by 2025, the region may witness an increase in the penetration rates of mobile subscribers (86%), along with the internet (80%). Additionally, according to GSMA, by 2025, Europe is estimated to register the highest rate of penetration of the internet (82%) and smartphones (88%).
Facial recognition systems are increasingly becoming common in various devices. For instance, major smartphone vendors, such as Apple, Samsung, and OnePlus, have already incorporated this as one of the means of user authentication. This increase in the adoption of substitute technology can hamper the growth of the fingerprint sensors market.
The COVID-19 pandemic has increased the demand for consumer electronics such as smartphones, laptops, PCs, and tablets. For instance, the sale of laptops grew in Russia amid the pandemic in March 2020 and accounted for a growth of 50%, according to RBC.ru.

Key Market Trends

Applications in Smartphones is expected to Hold a Major Share

The smartphone is the largest segment to utilize fingerprint sensors for user authentication among all the other devices considered in the study. The earliest application of fingerprint sensors in smartphones was in the year 2011 by Toshiba, but it was Apple touch ID that revolutionized fingerprint sensors in mobile devices.
Apple’s Touch ID, based on capacitive technology, was accurate and easy to use, because of which the authentication of the user became fast and smooth. After Apple’s success, Samsung and other major players also started using different fingerprint technologies for the authentication process.
When it comes to technology, the capacitive touchscreen sensors are being replaced by ultrasonic fingerprint sensors in premium phones and optical sensors in the rest of the devices. The shift from capacitive sensors has been due to the growing demand to integrate sensors in the display.
Tablets, on the other hand, have been using capacitive sensors, and many times to keep the bezels, many small manufacturers have opted not to use fingerprint sensors on their tablets. However, companies like Samsung, Lenovo, and Asus, have been using capacitive sensors in their tablets.
The increasing penetration of smartphones is expected to create more opportunities in the studied market. For instance, according to Ericsson Mobility Report 2021, there are more than 5.5 billion new smartphone subscriptions.

Asia Pacific to Witness Highest Growth

Increasing mobile transactions in China, coupled with the government’s initiatives, are expected to be the major drivers for the fingerprint sensors market in the country. China is witnessing a high mobile transactional volume, which is expected to create the potential for the market studied.
According to the China Internet Network Information Center (CNNIC), in 2020, around 852.5 million users used mobile payment transactions in the country, which increased from 583.3 million users in 2018. such an increase in mobile payment transactions provides an increasing need for various fingerprint sensors.
The market for fingerprint scanners in Japan is primarily driven by continuous product innovations by the companies in the country. For instance, in July 2021, Fingerprint Cards collaborated with Tokyo-based company MoriX Co. Ltd to develop and launch biometric payment cards in Japan. Fingerprints’ T-Shape module, which boasts ultra-low power consumption and is customized to be integrated into payment cards using standard automated manufacturing techniques, will be featured on the cards. Adding biometric sensors to contactless payment cards improves security, cleanliness, and sanitation while raising the card payment maximum.
The Japanese companies in the automotive sector are also actively looking forward to integrating fingerprint sensors in their upcoming models. For instance, Nissan introduced its concept car Nissan Xmotion featured fingerprint biometric authentication for enhanced security of the vehicles.
Fingerprint sensors are witnessing a significant demand in South Korea due to the increasing demand for biometric payment cards, and there is a robust market for payment cards. Various market vendors are currently working to integrate biometric technology and will have a truly disruptive offering that will allow to significantly expand the banking customer base in the country, various end-users, and beyond.

Competitive Landscape

The fingerprint sensor market is fragmented, with individual international companies such as Qualcomm, Fingerprint Card AB, and Synaptics occupying a significant market share by deploying their solutions in various smartphones. Fingerprint sensor firms are unlocking new markets beyond smartphones and exploring even the field of IoT and integration of fingerprint sensors into smart cards and are constantly incorporating different technologies to enhance the end-user experiences.

January 2022 - The Vivo launched IQOO 9 Pro is the first smartphone to include Qualcomm’s 3D Sonic Max ultrasonic fingerprint reader and is powered by the brand-new Snapdragon 8 Gen 1 processor. The IQOO 9 Pro’s Qualcomm 3D Sonic Max enables a lightning-fast fingerprint enrollment process with just one tap. Once the user fingerprint is registered, it unlocks the phone in just 0.2 seconds.
September 2021- IDEMIA launched the SaaS-based Automated Biometric Identification System (ABIS), IDEMIA STORM ABIS, for intuitive, accessible, and affordable fingerprint analysis, comparison, and documentation. IDEMIA STORM ABIS supports local and national searches through tools for comparison, analysis, and case management that permits fingerprint examiners to effectively and efficiently complete examinations from anywhere.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06279491/?utm_source=GNW

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