The fingerprint sensor market is projected to grow USD 3.5 billion in 2021; it is expected to grow at a CAGR of 10.9% from 2021 to 2026, to reach USD 5.8 billion by 2026.
The extensive use of fingerprint sensors in consumer devices, the effective implementation of biometric time and attendance systems for calculating employee productivity, work hours, and others, and the high adoption of biometrics by the governments worldwide for enhanced security are the key factors driving the growth of the fingerprint sensor market. However, threats pertaining to the biometric database are the major restraint that hinders the growth of the fingerprint sensor market. On the contrary, the emergence of biometric smartcards in BFSI applications, the newest trend of in-display fingerprint sensors in smartphones, and the rise in the adoption of fingerprint sensors in IoT-based devices are likely to provide lucrative opportunities to the fingerprint sensor market players during 2021–2026. Moreover, the rising use of facial recognition technology in payments, access and security, and criminal identification applications pose challenges to the fingerprint sensor market.
In 2020, the fingerprint sensors market was dominated by Goodix (China), Fingerprint Cards AB (Sweden), Synaptics (US), Apple Inc. (US), and Egis Technology (Taiwan). The major strategies adopted by the top 5 players in the fingerprint sensors market included product launches and developments, collaborations, contracts and acquisitions which helped them to innovate on their product offerings and broaden their customer base.
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Top 2 players in the fingerprint sensors market are:
Goodix has established itself as a prominent player and stood first in the fingerprint sensor market. In a span of about 16 years, the company has acquired a large client base that includes 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, namely invisible fingerprint sensor (IFS) and glass-covered fingerprint sensor, for Android smartphones. Goodix is one of the important players in the in-display sensor market. A few smartphones that include Goodix in-display sensors are One plus 7 Series, Oppo K3, Oppo Reno Series, vivo X27 Series, and Xiaomi’s Mi 9 Series. Furthermore, the growing demand for fingerprint sensors for IoT, automotive applications, and the smart home market will create opportunities for fingerprint sensors in smart locks and access control systems.
Fingerprint Sensor Market with Covid–19 Impact by Technology (Capacitive, Optical, Thermal and, Ultrasonic), Type (Area, Touch, and Swipe), Sensor Technology, Product, End–Use Application, and Region - Global Forecast to 2026
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
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