New York, March 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fingerprint Sensor Global Market Report 2022" - https://www.reportlinker.com/p06244984/?utm_source=GNW
, Synaptics Incorporated, BIO-key International, Crucialtec, Hid Global Corporation, M2SYS Technology, Novatek Microelectronics and Secugen Corporation.
The global fingerprint sensor market is expected to grow from $4.03 billion in 2021 to $4.85 billion in 2022 at a compound annual growth rate (CAGR) of 20.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $9.18 billion in 2026 at a CAGR of 17.3%.
The fingerprint sensor market consists of sales of fingerprint sensors by entities (organizations, sole traders, and partnerships) that are used in authentication processes.The fingerprint sensor is a type of sensor that is used in a fingerprint detection device to detect fingerprints for biometric authentication to grant the user access to certain information or entry/exit.
They are majorly used for their accuracy, better performance, and robustness based on exclusive fingerprint biometric technology.
The main types in the fingerprint sensor market are area and touch sensors and swipe sensors.The area and touch sensors capture and record the image of the finger that is placed over the sensor.
The different technologies include capacitive, optical, thermal, and ultrasonic and involve various sensor technologies such as 2D and 3D technology. These are used in various applications such as consumer electronics, government and law enforcement, military, defense, and aerospace, travel and immigration, banking and finance, commercial, healthcare, smart homes and others.
Asia Pacific was the largest region in the fingerprint sensor market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high adoption of biometrics by governments is significantly contributing to the growth of the fingerprint sensor market.In offices, fingerprint sensors are crucial for biometric identification and attendance monitoring.
Governments across the world are now adopting fingerprint sensors into their use.For instance, according to the Biometric Update, a US-based online source that provides information about the global biometrics sector, in October 2019, police units in the UK have adopted mobile fingerprint scanners to use on the streets.
This will help the police to fetch the identity of the suspect within 60 seconds if the fingerprint matches the fingerprints that are already in police databases.The INK Biometrics mobile biometric solution will be used with crossmatch fingerprint sensor device.
Therefore, the high adoption of biometrics by governments is expected to propel the growth of the fingerprint sensor market going forward.
Technological advancement is a key trend gaining popularity in the fingerprint sensor market.Major companies operating in the fingerprint sensor sector are focused on developing new technological solutions to meet consumer demand and strengthen their position.
For instance, in February 2019, Fingerprint Cards, a Sweden-based biometric company has launched its first optical fingerprint sensor FPC1610 based on optical technology.This sensor would be placed inside the display of the smartphone.
The new FPC1610 sensor has better image quality, which leads to improved biometric functionality, and it has a very thin form aspect, allowing it to be put between the battery and the display.
In June 2019, Gemalto Inc., a US-based technology solutions company acquired Green Bit for an undisclosed amount. The acquisition would enhance and accelerate the biometric capture capabilities of Gemalto. It would also be using Green Bit’s biometric scanners to make complete automated fingerprint identification systems. Green Bit is an Italy-based developer of biometric systems, specializing in fingerprint recognition for identification, recognition, and security.
The countries covered in the Fingerprint Sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06244984/?utm_source=GNW
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