“Fingerprint sensors market expected to grow at a significant rate between 2016 and 2022”
The fingerprint sensors market was valued at 2.94 billion in 2015 and is expected to grow at a CAGR of 18.9% between 2016 and 2022, to reach USD 8.85 billion by 2022. Approximately, 649.1 million fingerprint sensors were shipped worldwide in 2015 and the shipment is expected to reach 3,252.1 million by 2022, at a CAGR of 23.2% between 2016 and 2022. The growing adoption of fingerprint sensors in the banking & finance industry, increasing usage of fingerprint sensors in smartphones and other consumer electronics, need for secured and simplified user access, rapid growth in mobile commerce, and the increasing usage of biometrics systems for criminal identification among others are the factors driving the growth of the market.
“Banking & finance application expected to grow at a high rate in the fingerprint sensors market during the forecast period“
The growth of the fingerprint sensors market in the banking & finance industry is mainly driven by the rising instances of fraudulence in transaction which demand more secure options such as biometric cards and products. Also, there has been an increase in non-cash transactions in the past few years which drives the demand for cards (credit/debit). Biometric debit or credit cards provide more security over other methods, which is one of the driving factors behind the growth of this market in the banking & finance industry.
“APAC to be the leading and fastest-growing market for fingerprint sensors during the forecast period”
The growth of the fingerprint sensors market in APAC is attributed to the increase in demand for mobile devices, increased government projects in law enforcements, rapid urbanization, growing population, and the increasing disposable income.
The break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 – 35%, Tier 2 – 46%, and Tier 3 – 19%
- By Designation: C–Level Executives – 45%, Directors– 35%, Others – 20%
- By Region: North America - 41%, Europe – 36%, APAC – 17%, RoW – 6%
The key players in the fingerprint sensors market include Apple Inc. (U.S.), Fingerprint Cards AB (Sweden), Synaptics Inc. (U.S.), Goodix Ltd. (China), Egis Technology Inc. (Taiwan), Silead Inc. (China), IDEX ASA (Norway), Safran Identity & Security (France), Thales SA (France), Suprema Inc. (South Korea), Dermalog Identification Systems GmbH (Germany), Crossmatch (U.S.), NEC Corp. (Japan), and 3M Cogent Inc. (U.S.)
Reasons to buy the report:
- Illustrative segmentation, analysis, and forecast for the market based on type, technology, application, and geography have been conducted to give an overall view of the fingerprint sensors market.
- The Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the fingerprint sensors market.
- The major drivers, restraints, opportunities, and challenges for the fingerprint sensors market have been detailed in this report.
- The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.