COVID-19 Impact on Fingerprint Sensor Market

Market Leadership - COVID-19 Impact on Fingerprint Sensor Market

Post-COVID-19, the global fingerprint sensor market size is projected to grow from USD 3.0 billion in 2020 to USD 6.0 billion by 2025, at a CAGR of 15.2%. The projection for 2025 is estimated to be up by ~3.1% as compared to pre-COVID-19 estimation. The emergence of biometric smart cards in BFSI applications is one of the key factors driving the growth of the fingerprint sensor market. Also, the growing demand for laptops and notebooks due to COVID-19 is likely to boost the market growth.

Goodix (China), Fingerprint Cards (Sweden), Synaptics (US), Apple (US), IDEX Biometrics (Norway), NEXT Biometrics (Norway), Novatek Microelectronics (Taiwan), Qualcomm (US), ELAN Microelectronics (Taiwan), Japan Display (Japan), Egis Technology (Taiwan), CrucialTec (South Korea), and Q Technology (China) are the major players operating in the global fingerprint sensor market.

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Companies are adopting various strategies to mitigate the impact of COVID-19. These strategies include halting of production lines, shifting of production bases, temporary closure of retail stores, and operating at partial capacity to curb the spread of COVID-19.

  • Foxconn (Taiwan), who manufactures Apple’s iPhones, announced that it halted production activities in China in February 2020 due to the COVID-19 outbreak. The production resumed by the end of March 2020. Also, Apple closed its retail stores across the world in early March 2020 up to the end of the month to curb the spread of COVID-19.
  • IDEX Biometrics, on March 24, 2020, announced that it established an internal virus response team, which is responsible for ongoing contingency planning. The company also announced that all travel and face-to-face meetings have been stopped and work from home for the majority of its staff came into effect from March 16, 2020.
  • ELAN Microelectronics announced that its business was majorly affected in February 2020 due to COVID-19, as most of its touch modules were outsourced. To counter the problem, ELAN relocated partial production of its outsourced touchpad module to its in-house production line in Taiwan.

Goodix, over the period, has developed itself as a prominent player in the fingerprint sensor market. In around 16 years in this market, the company has a wide base of clients that include tier-one companies such as Huawei (China), ZTE (China), Xiaomi (China), LG Electronics (South Korea) Nokia (Finland), Acer (Taiwan), Toshiba (Japan), Lenovo (China), OPPO (China), Meizu (China), and Panasonic (Japan). With its cutting-edge and patented technologies, the company is a pioneer in innovation, which enabled it to launch the world’s first front-mounted push-type fingerprint sensors, such as Invisible Fingerprint Sensor (IFS) and glass-covered fingerprint sensor, for Android smartphones. The company heavily relies on contracts to expand its business. For instance, in May 2019, Xiaomi’s (China) Redmi introduced its K20 series smartphones powered by Goodix’s optical in-display fingerprint sensor. Also, in May 2019, Oppo (China) launched its Oppo K3 smartphone featuring Goodix’s latest optical in-display fingerprint sensor.

Semiconductor Manufacturing International Co. (SMIC), China's major contract chipmaker, who is a supplier to Goodix, announced in the second week of February that its factories, mainly located in Shanghai, Beijing, and Tianjin are running at full capacity amid the COVID-19 outbreak. SMIC expects that the impact of COVID-19 on its supply chain will show up in the second quarter of 2020. This may disrupt the supply to Goodix from April 2020 to June 2020.

Fingerprint Cards is one of the leading fingerprint sensor providers owing to the increasing use of these sensors in smartphones, which has helped the company create its space in the fingerprint sensor market. The company is focusing on expanding its presence in new segments such as smartcards, automotive industry, IoT, physical access, wearables, healthcare sector, banking and finance, and login devices. Its sensors are deployed in many products offered by popular consumer electronics brands, such as Huawei, Xiaomi, Oppo, Acer, and Sharp.

To grab business opportunities, the company believes in strategic partnerships or complementary acquisitions wherein technologies of two or more companies enable and enhance the capabilities of offerings for new market segments. For instance, in February 2019, Fingerprint Cards signed a partnership agreement with Gemalto (Netherlands) to enhance the performance of Gemalto’s next-generation dual-interface payment cards. The company undertakes continuous R&D efforts to upgrade its existing products or develop new products for different markets. For instance, in April 2019, Fingerprints introduced a T-shape sensor integrated into a hardware vault, called BeamU, for safe online access and secure offline data storage. Fingerprint Cards, in its quarterly report dated May 04, 2020, announced that its revenues in the Q1 2020 (January–March) declined by 10% year-on-year due to capacity limitations among subcontractors and restrictions on goods transportation as a result of COVID-19 outbreak. Fingerprint Cards expects that the effects of inadequate access to production capacity among the major semiconductor manufacturers to persist moving forward.

Related Reports:

COVID-19 Impact on Fingerprint Sensor Market by Technology (Capacitive, Optical, Thermal and Ultrasonic), Application (Consumer Electronics, Banking & Finance, Travel & Immigration and Government & Law Enforcement) and Region - Global Forecast to 2025

Mr. Aashish Mehra
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