Fingerprint Sensors May Grab $12.82 Billion Market By 2023

According to a report by BIS Research, titled "Global Fingerprint Sensors Market, Analysis & Forecast, 2017 - 2023", the global fingerprint sensors market is expected to reach $12.82 billion by 2023, growing at a CAGR of 15.7% from 2017 to 2023. The pursuit of a safe and secure ecosystem where there are no fraudulent multiple identities, identity fraud, security breaches, and a threat to digital assets, has given the much-needed impetus to fingerprint authentication and identification market globally.

 

The fingerprint based biometric authentication and identification market has a high degree of potential in future owing to the rising demand for the fingerprint sensors in various end user industries. The upcoming wave of biometrics devices is likely to undermine a number of industries such as healthcare, automotive, banking and various financial institutions, consumer electronics, and many others. However, some of the challenges faced by these devices include the high cost of the products and privacy concerns. With the evolution of next generation devices, the cost of fingerprint sensor products is expected to decline substantially due to the technological advancement and increasing number of product launches and developments, moreover, the market will witness a gradual decrease in the cost of such products.

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Fingerprint authentication technology is deployed to meet the security requirements of companies, gathering actionable intelligence of people with a history of past terrorist and criminal activities. Innovation in this field is a continuous phenomenon, with vendors attempting to create next generation security systems. Fingerprint authentication methods are used globally in disparate applications and have paved their way into many existing and new markets. However, authentication technologies are still at an evolving and emerging phase so as to have an impact on a large scale. Fingerprint authentication methods have a promising future in identification and security systems.

 

After the launch of fingerprint sensor "Touch ID" on iPhone 5s, fingerprint authentication on consumer devices started becoming mainstream. Android smartphone manufacturers like Samsung followed the trend and started adopting fingerprint sensors in their devices. Fingerprint sensors are also used to authenticate purchases on app stores. These sensors in smartphones are now expected to witness growth due to adoption of fingerprint authentication technology in mid-range smartphones.

 

The report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by sensor type namely swipe, area and touch, by technology type namely optical sensors, thermal sensors, ultrasonic sensors, capacitive sensors and others and by application namely mobile devices, travel, commercial, smart cards, residential, automotive, healthcare and government. The report also includes a comprehensive section on the geographical analysis including country analysis for more than 10 different countries.

 

Some of the key players in the mobile gaming market include Synaptics, Precise Biometrics, Next Biometrics, NEC Corporation, Fingerprint Cards AB, and Bio-Key International.

 

This report is a meticulous compilation of research on more than 100 players in the fingerprint sensors ecosystem and draws upon insights from in-depth interviews with key opinion leaders, market participants, and vendors.

 

Questions answered in the report:

  • What are the major market drivers, challenges, and opportunities in the global fingerprint sensors market?
  • How will the fingerprint sensors market evolve and what is its scope in the future?
  • What is the market share of the leading segments and sub-segments of the global fingerprint sensors market in 2016 and 2023?
  • How will each segment of the global fingerprint sensors market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2023?
  • How will the industry evolve during the forecast period between 2016 and 2023?
  • What will be the growth rate of different segments during the forecast period? Which is the leading segment by the application?
  • How has the market been segmented on the basis of application?
  • Which geographical location will dominate the fingerprint sensors market?
  • What are the new strategies adopted by the existing market players to make a mark in the industry?
  • Who are the key players in the fingerprint sensors market?
  • What major opportunities do the fingerprint sensors companies foresee?
  • What strategies are adopted by fingerprint sensors manufacturers to sustain or grow in the market?
  • What is the impact of recent big acquisitions in the fingerprint sensors market? 

To learn more, browse the Global  Fingerprint Sensors Market report and/or request a sample of the report.

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