The market drivers of the Fingerprint Sensor Market are increasing adoption of digitalization in attendance and time capturing, rapid adoption of fingerprint sensors in consumer electronics, such as smartphones, support from governments for fingerprint sensors and increasing applications of biometrics in e-commerce. Fingerprint sensor market growth mainly attributes to its application in various sectors such as consumer electronics, banking and finance, travel and immigration, military and Defence, commercial security, and aerospace. Lately, biometric fingerprint sensors are becoming the most reliable security systems in banking and finance.

The countries in the APAC region already have a booming market in the consumer electronics sector with China alone producing an enormous amount of mobile phones annually. Other countries in the APAC region such as Taiwan, Indonesia, and the Philippines are also significantly growing and sharing the market of smartphones, tablets, and other electronic devices. Furthermore, there is a concrete growth in the commercial, real estate, and banking sectors in APAC which is making it the leading region with a fingerprint sensor market.

The global fingerprint sensor market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions and others to increase their footprints in this market.

However, the lack of infrastructure in developing countries, the issue of credibility, assurance and security of authorized sensors are some of the market restraints that must be tackled to ensure consistent growth in this market.

Technology Segment

Optical fingerprint sensor technology will grow with the highest growth rate during the forecast period.In-display fingerprint sensors are in demand because of increase in the sales of smartphones, which in turn will provide prospects for the optical fingerprint sensor market growth. An optical in-display fingerprint sensor uses an optical fingerprint sensor to capture the fingerprint data and is embedded under the phone’s screen.

Application Segment

The consumer electronics application is likely to continue to account for the largest size of the market for fingerprint sensors in the forecast period due to the rise in demand for these sensors in devices such as smartphones, tablets, laptops, and notebooks. Consumer IoT devices are expected to provide opportunities for the market during the forecast period.

Type Segment

Touch sensors  will account for the largest market share during the forecast period. The key factors behind this are that they are becoming increasingly smaller, more cost-effective, and convenient for use. These sensors are mainly used in consumer devices such as smartphones and tablets. Companies prefer touch sensors over swipe sensors, particularly in mobile devices that demand smaller sensors, to produce miniaturized products preferred by end-users in the market. This contributes to a higher market share of touch sensors in the fingerprint sensor market.

The global Fingerprint Sensor market  covers major geographic regions, namely, North America, Asia Pacific, Europe, Middle East and Africa, and South America. Asia Pacific will account the largest share of the fingerprint sensor market during the forecast period.Factors responsible for this are presence of leading smartphone companies such as Oppo, Vivo, and Xiaomi in China, rise in adoption of biometrics systems in retail, need for security to reduce fraud and provide secure access to physical & digital properties, increased awareness of the benefits of using fingerprint sensing technology among the masses, and cost-effectiveness of these sensors.

The major players of the Fingerprint Sensor Market are Shenzhen Goodix Technology Co., Ltd., Fingerprint Cards AB, Synaptics Incorporated , Apple Inc., Egis Technology Inc., CrucialTec, NEXT Biometrics Group ASA, Novatek Microelectronics Corp., Q Technology (Group) Company Limited , Qualcomm Technologies Inc. and others.