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Fingerprint Sensor Market size is likely to witness exponential growth over 2021-2027, given the rising adoption of biometric fingerprint scanners for accurate identification, high security, and faster access. Likewise, the deployment of fingerprint sensors in smartphones and other electronic devices as a convenient way to unlock the devices will further drive the industry growth. Fingerprint sensors refer to a key biometric technology that has been gaining widespread popularity in security areas. Smartphones and other wearable devices use this sensor to increase device security, while the technology has been gaining traction for high-security access to facilities and buildings.
Significant shift away from traditional authentication methods like passwords to biometric technology to mitigate losses from banking frauds is a key trend characterizing the fingerprint sensor market growth. Credit unions, banks, and financial services firms are deploying this technology to ensure greater security and convenience in modern banking. Robust demand for consumer electronics like smartphones and tablets, even during the coronavirus pandemic, will also broaden the fingerprint sensor application scope over the coming years.
The ultrasonic sensors segment is set to amass considerable gains by 2027. This is a result of mounting usage of this technology in modern smartphones and its associated benefits like increased reliability and security over capacitive sensors. The segment growth will further be boosted by the rapid launch of upgraded ultrasonic sensors by vendors across the globe. Qualcomm, for example, released its second-generation ultrasonic fingerprint in 2021, with enhanced features from its first-generation devices, including faster processing.
The Europe fingerprint sensor market will hold an appreciable share by 2027, owing to the rising smartphone penetration in Central and Eastern European countries. In France, BNP Paribas partnered with Visa and Fingerprint Cards to create 10,000 to 15,000 biometric cards. These secure, convenient, and reliable payment cards have integrated fingerprint sensor technology, which could further foster the regional growth in the years ahead.
Prominent companies operating in the fingerprint sensor market include IrScan, Ekey Biometric Systems, Cyber-SIGN, Silead Inc. (GigaDevice), Suprema Inc., NEC Corporation (Western Electric, AT&T Corporation), Crossmatch, Dermalog Identification Systems, 3M Cogent, NEXT Biometrics, IDEX Biometrics, Gemalto (Thales Group), Next Biometrics, Egis Technology, Anviz Global, Idemia (Advent International), Fingerprint Cards, Apple Inc., Goodix, and Synaptics, among others. New product launches and mergers and acquisitions are among the key strategies being employed by the players to expand their business presence across the global market.
For example, in May 2021, OPPO announced the launch of its K9 5G smartphone, designed with innovative features like Goodix in-display fingerprint sensor, highlighting its continued partnership with the software and integrated chip design solution provider. In February 2021, Fingerprint Cards announced the integration of its slim and curve capacitive touch sensor, FPC1542, in Xiaomi’s Redmi K40, K40 Pro as well as K40 Pro+ smartphone models, to offer more streamlined mid-frame integration.
The increasing spread of coronavirus from frequently touched surfaces has caused high concerns regarding the safety of fingerprint sensors and authentication. It has been indicated that these sensors can serve as a medium to pass the virus through contact like other commonly touched surfaces, which may impact the steady growth of the industry. Despite the economic downturn and dented customer confidence during the pandemic, however, the surging smartphone sales in countries like the U.S. may aid industry recovery over the forthcoming years. Global smartphone revenues were expected to rise by over 13% Y-o-Y in 2021, which could, in turn, fuel the integration of fingerprint sensor technology.
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