IMARC Group has recently released a new research study titled “Fingerprint Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, which offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the fingerprint sensor industry?
The global fingerprint sensor market reached a value of US$ 5.15 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.4 Billion by 2027, exhibiting at a CAGR of 16.42% during 2022-2027.
What is fingerprint sensor?
A fingerprint sensor is a biometric security system that scans a person’s fingerprints to verify his or her identification. It is accessible in a variety of technologies, including capacitive, optical, and thermal. These fingerprint sensor variations collect high-contrast fingerprint images and turn them into digital codes that are saved as fingerprint minutiae. They are a quick, dependable, convenient, and cost-effective method of validating IDs that can be effortlessly installed into many devices. As a result, fingerprint sensor models are widely used in a variety of industries, including government and law enforcement, healthcare, aerospace, defence and military, banking, financial services and insurance (BFSI), travel and immigration, consumer electronics, and so on.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the fingerprint sensor market?
The growing instances of security breaches in various industries and the elevating need for efficient authentication procedures to provide secure access control to varied facilities and IT systems are primarily driving the fingerprint sensor market. Apart from this, the escalating product adoption to digitize time and attendance systems in government and corporate organizations across countries is also positively influencing the global market.
Furthermore, the increasing incorporation of these sensors in smartphones, wearables, and automobiles, owing to the emerging trend of automation, is acting as another significant growth-inducing factor. Besides this, the inflating investments in research and development (R&D) activities and the introduction of advanced products integrated with artificial intelligence (AI) by leading market players to improve the accuracy of the verification process and offer a personalized user experience are expected to propel the fingerprint sensor market over the forecasted period.
Global Fingerprint Sensor Market Report Coverage and Industry Segmentation:
The report cover the below key market segments:
Breakup by Type:
Area and Touch Sensors
Breakup by Technology:
Breakup by Application:
Government and Law Enforcement
Military, Defense and Aerospace
Travel and Immigration
Banking and Finance
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
3M Cogent Inc
Anviz Global Inc
BIO-Key International Inc
Egis Technology Inc
Fingerprint Cards AB
IDEMIA (Advent International Corporation)
Idex Biometrics ASA
Next Biometrics Group ASA
Qualcomm Technologies Inc
Shenzhen Goodix Technology Co. Ltd
Synaptics Incorporated and Vkansee Technology Inc
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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