Westford, USA, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Initially, fingerprint sensors were only used by certain high-end users. However, with the increasing popularity of mobile devices and the increase in hacking attempts, businesses and individuals have started to adopt this technology more widely. Not only is it more secure than traditional passwords, but it also eliminates the need for you to remember multiple digits! This growth of the global fingerprint sensor market is attributed to increasing demand for secure identification and authentication of individuals as well as increased adoption of mobile payment platforms.
Today, fingerprint sensors are becoming an increasingly common way for users to authenticate themselves online and in physical stores. They are used in a variety of applications such as unlocking mobile phones, logging on to computers, and verifying the identity of customers in financial transactions. Fingerprint recognition has been found to be more accurate than other forms of authentication, such as passwords or PINs.
From the last three years, the global fingerprint sensor market has started witnessing a huge influx of demand from smartphone companies. In fact, they have become the biggest users of fingerprint sensor technology. They use it to secure user data and to ensure that only authorized users can access their accounts. Laptop manufacturers are also using fingerprint sensors to protect user data. Apart from this, automotive manufacturers are beginning to use them to control car functions and enable drivers to authenticate themselves before starting the engine.
The global fingerprint sensor market will become even more competitive as companies develop new and more secure technologies. For instance, Apple has been leading the way in developing innovative fingerprint sensor technology. In addition to offering its own advanced sensors, Apple also licenses its technology to other smartphone manufacturers.
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SkyQuest’s Analysis of Global Fingerprint Sensor Market
The demand for fingerprint sensors is growing exponentially, as companies adopt it for a variety of use cases including authentication, access control and malware detection. According to a study by SkyQuest, there will be a 33% growth in the use of fingerprint sensors in enterprise BYOD deployments between 2021 and 2025. As such, demand for fingerprint sensor market is poised to grow significantly over the next few years.
In terms of supply, there are currently two dominant suppliers of fingerprint sensor technology: Synaptics and Samsung. However, SkyQuest’s analysts note that not all vendors are able to create durable sensors that can handle high-volume production. In addition, as competition intensifies among suppliers and users alike seek more secure biometric authentication options, prices are likely to drop within the next several years.
The study on the global fingerprint sensor market found that while only around 41% of users currently use fingerprints to access their smartphone devices, this could increase to more than 65% by 2030 as users become more comfortable with biometric authentication. In addition, we found that the number of businesses requiring mandatory fingerprint scanning will also increase over the same time period, with about 44% of companies surveyed expecting such a requirement within the next two years.
In Q1 2022, SkyQuest predicted that the number of active devices with biometric authentication reached 332 million units in 2021. This growth can be attributed to the popularity of smartphones using biometric authentication.
We surveyed several companies in the global fingerprint sensor market engaged in manufacturing fingerprint sensors to understand their requirements and found that most companies are looking for an adhesive (land) fingerprint sensor with good readability in direct sunlight and low noise levels. They also require a fast sensor speed and low power consumption. There is currently a lack of compatible flagship phones with these features, so there is potential for additional growth for fingerprint sensor market through device integration by phone manufacturers over the next three years.
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Shifting Preferences to Biometric Authentication is Giving Impetus To Fingerprint Sensor Demand
As the world becomes increasingly digitized, we are starting to see a shift in preferences towards biometric authentication - specifically, fingerprint scanning. This is giving impetus to the demand for fingerprint sensors, as businesses and consumers alike look to protect their information and identities with more reliable means.
There are many advantages to using biometric authentication, compared to traditional password methods. For one, passwords can be easily forgotten or stolen - which is especially problematic when it comes to sensitive information like account numbers or passwords for online banking accounts. Biometric authentication techniques in the fingerprint sensor market, on the other hand, are difficult (but not impossible) to fake. And since they're unique to each individual, they're also harder for hackers to use against you without your consent or knowledge.
One of the most common uses of fingerprint scanning is on mobile devices such as smartphones and tablets. Since most people tend to keep their devices close at hand - and usually don't need to enter a password every time they want access to them - fingerprints make perfect sense as a form of authentication. And because there's no need for a software installation or any kind of registration process, fingerprint scanning is fast and easy once users get used to it.
Overall, fingerprints are quickly becoming the preferred method of biometric authentication because they offer many advantages over traditional password methods. As more businesses and individuals begin using them, the demand for fingerprint sensors will only grow stronger.
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Synaptics to Enjoy Higher Market Share in Global Fingerprint Sensor Market
Synpatics Inc. is one of the key providers of biometric sensing solutions. The company's sensor technology focuses on mounting and integrating fingerprint sensors in mobile devices and other electronic devices. SkyQuest has published an analysis report on the global fingerprint sensor market, stating that the company has a good chance to become a leading supplier of fingerprint sensors in the global market.
According to our study, Synpatics' fingerprint sensor technology is compatible with Android and iOS operating systems. This makes the company's sensors more versatile and appealing compared to those from its competitors. Furthermore, Synpatics' sensor technology supports reading fingerprints in both radial and oblique directions, which gives device manufacturers more flexibility when designing their products.
The report on global fingerprint sensor market also stated that Synpatics' Fingerprint Signal Processor (FSP) is one of the most advanced implementations of fingerprint recognition currently available on the market. Moreover, Skyquest believes that this feature will give Synpatics an advantage over its competitors in terms of accuracy and speed. In addition, Synpatics has been working on increasing device battery life through optimization of its sensor algorithms. This could lead to increased adoption by device manufacturers who are looking for ways to reduce resource usage across their platforms.
The report finds that Synpatics has been able to leveraging its leading market position to develop innovative products with high value for customers. The company's omnidirectional printing technology is especially key to this, as it allows for low-cost production of large prints that are accurate and highly resistant to wear and tear. Additionally, Synpatics offers "stress-relieving" features such as vibration reassurance and a long battery life, which helps its products be more user-friendly.
Top Players in Global Fingerprint Sensor Market
- Shenzhen Goodix (China)
- Fingerprint Cards AB (Sweden)
- Synaptics (US)
- Apple Inc. (US)
- Egis Technology Inc. (Taiwan)
- Crucialtec (South Korea)
- Next Biometrics (Norway)
- Novatek Microelectronics (Taiwan)
- Qualcomm (US)
- Q Technology Company ltd. (China)
- CMOS Sensor Inc. (US)
- Elan Microelectronics Corporation (Taiwan)
- Focaltech Sys (Taiwan)
- ID3 Technologies (France)
- IDEX Biometrics ASA (Norway)
- Japan Display Inc. (Japan)
- OXI Technology (China)
- Sonavation Inc. (US)
- Touch Biometrix Ltd. (UK)
- Vkansee (US)
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