CHICAGO, May 27, 2024 /PRNewswire/ --
The Fingerprint Sensor Market is projected to grow from
USD 4.2 billion in 2024 and is
estimated to reach USD 5.9 billion by
2029; it is expected to grow at a Compound Annual Growth Rate
(CAGR) of 7.0% from 2024 to 2029 according to a new report by
MarketsandMarkets™. The rise in number of identity threats
is one of the key factors leading to emergence of fingerprint
technologies. Identity theft refers to the illegal acquisition of
an individual's personal or financial details to perpetrate fraud,
including unauthorized transactions. It occurs through various
methods and inflicts harm on victims' credit, finances, and
reputation.
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Browse in-depth TOC on "Fingerprint Sensor
Market"
100 – Tables
60 – Figures
200 – Pages
Fingerprint Sensor Market Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 4.2 billion in 2024
|
Estimated Value by
2029
|
$ 5.9 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 7.0%
|
Market Size Available
for
|
2020–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By technology, sensor
technology, type, end-use application and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Sensor performance
limitations
|
Key Market
Opportunities
|
Increased adoption of
IoT-based biometric technology
|
Key Market
Drivers
|
Rise in number of
identity threats leading to emergence of fingerprint
technologies
|
Area & Touch sensors in the sensor type segment is
expected to witness higher CAGR during the forecast period.
Area & touch sensors segment is expected to witness a higher
CAGR during the forecast period in the fingerprint sensor market.
These sensors activate upon physical contact with an object or
individual and are more sensitive compared to traditional buttons
or manual controls. They provide users with a seamless and
responsive experience, making them ideal for modern electronic
devices where sleek design and user convenience are paramount.
The 2D segment in the fingerprint sensor market is expected
to capture higher share during the forecast period.
2D sensor technology captures a person's fingerprint pattern,
including ridges and valleys, in two dimensions using a single
plane of lasers to measure the X and Y dimensions. This technology
is primarily utilized for detection and ranging tasks. Due to its
affordability, 2D sensor technology remains popular among OEMs,
especially in mobile devices requiring compact sensors to meet the
preferences of end users. Key players such as Synaptics
Incorporated (US), Fingerprints (Sweden), and Shenzhen Goodix Technology Co.,
Ltd. (China) offer 2D sensors for
various consumer electronics and applications.
Ultrasonic is expected to witness the highest CAGR in the
fingerprint sensor market during the forecast period.
Ultrasonic fingerprint sensors utilize sound waves to penetrate
the outer layers of the skin, enabling the capture of
three-dimensional (3D) details and distinct fingerprint
characteristics like ridges and sweat pores. Unlike current
capacitive touch-based fingerprint technologies, ultrasonic sensors
can read both the epidermal and dermal layers of the skin, allowing
for the capture of fine details. Consequently, these sensors
can accurately read wet fingers or those with ruptured or damaged
skin. The continuous advancements in sensing technology are
expected anticipated to propel the growth of the ultrasonic
fingerprint sensor market. In January
2022, vivo (China)
announced the 1000 9 Pro smartphone with Qualcomm's 3D Sonic Max
ultrasonic fingerprint sensor. The new smartphone is based on
Snapdragon 8 Gen 1 processor. The Qualcomm 3D Sonic Max in the IQ00
9 Pro enables a super-fast one-tap fingerprint registration
process.
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North America is expected to
hold the second largest share of the fingerprint sensor industry
during the forecast period.
North America is driven by the
increasing adoption of biometric authentication across various
sectors, particularly consumer electronics, government, and
commercial domains. The US Department of Homeland Security (DHS)
has been actively promoting the use of biometric technologies,
including fingerprint sensors, for enhancing border security and
immigration processes. The DHS's Biometric Entry-Exit Program has
facilitated the deployment of fingerprint scanners at various ports
of entry, contributing to the market's growth in the region.
According to November 2023 statistics
by US Department of Homeland Security (DHS), 1,018,349 persons
obtained lawful permanent resident status in year 2022 compared to
740,002 persons in 2021, which is 37.6% y-o-y increase.
Key Players
Major vendors in the fingerprint sensor companies include
Shenzhen Goodix Technology Co., Ltd. (China), Fingerprints (Sweden), Synaptics Incorporated (US), Apple
Inc. (US) NEXT Biometrics (Norway), Novatek Microelectronics Corp.
(Taiwan), Qualcomm Technologies,
Inc. (US) among others.
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