NEW YORK, May 27, 2020 (GLOBE NEWSWIRE) -- With increasing security concerns, the uptake of fingerprint-sensing-technology-integrated smartphones is rising across the world. Seeing the growing demand, numerous smartphone manufacturers have started deploying this functionality in their products, in order to offer customers enhanced security and better convenience of changing their personal identification number (PIN) and password. Compared to 50% in 2017, almost 60% of the smartphones produced in 2018 had this technology.
This is one of the main reasons the global fingerprint sensors market is projected to grow at a 13.6% CAGR between 2020 and 2030, since generating $3.8 billion in revenue in 2019. Apart from such consumer electronics, the integration of fingerprint sensors is also surging in wearable devices and personal computers (PC).
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Area/Touch Sensors to Experience Faster Demand Growth till 2030
Till 2030, faster rise in demand would be witnessed by area/touch sensors, which are better at sensing the fingerprint than swipe sensors. This is why the usage of area/touch sensors is rising swiftly in consumer electronics, especially smartphones.
Sensors based on the capacitive technology have garnered higher revenue in the industry till now, as they are cheaper than those working on other technologies. In addition, users get higher security and convenience of usage with capacitive-technology-based biometric sensors.
Historically, the government category held the largest share in the fingerprint sensors market, as the government of China, the U.S., India, Germany, and Mexico is strongly focused on authenticating the identity of people, especially for distributing public welfare services and benefits to the eligible people.
Asia-Pacific (APAC), which accounted for the highest procurement rate of fingerprint sensors in the past, is set to experience the highest CAGR in the industry in the immediate future. This would be a result of the rapid adoption of such instruments like biometric sensors by the government of India, China, and Indonesia, along with the surging uptake of fingerprint-sensors-integrated smartphones by the booming population, which is also experiencing an increase in its spending power.
Browse report overview with 96 tables and 55 figures spread through 139 pages and detailed TOC on "Fingerprint Sensors Market: Global Industry Size, Share and Growth Forecast to 2030" at: https://www.psmarketresearch.com/market-analysis/fingerprint-sensors-market-outlook
Market Players Launching New Products for Maximum Profit
For augmenting their revenue, companies in the industry are rapidly coming up with new and improved fingerprint sensors that are:
- Small in physical footprint and high in biometric performance
- Easily usable with foldable, borderless, and other smartphone designs
- Larger in sensors area and faster in detecting the fingerprint
- Designed for biometric identification devices
- Better, in terms of image quality, and slimmer, in terms of form factor
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The most prominent global fingerprint sensors market players include Synaptics Incorporated, Apple Inc., Fingerprint Cards AB, Integrated Biometrics LLC, Qualcomm Incorporated, Egis Technology Inc., Shenzhen Goodix Technology Co. Ltd., IDEX Biometrics ASA, id3 Technologies, and Next Biometrics Group ASA.
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