Global Fingerprint Sensor Market Report 2019-2024 – Emergence of Biometric Smartcards in BFSI Applications Presents Robust Opportunities | Financial Buzz

Global Fingerprint Sensor Market Report 2019-2024 – Emergence of Biometric Smartcards in BFSI Applications Presents Robust Opportunities

Dublin, Dec. 03, 2019 (GLOBE NEWSWIRE) — The “Fingerprint Sensor Market by Technology (Capacitive, Optical, Thermal, Ultrasonic), Type (Touch, Swipe), Application (Consumer Electronics, Banking & Finance, Government & Law Enforcement, Commercial, Smart Homes), and Region-Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The fingerprint sensor market was valued at USD 2.9 billion in 2018; it is expected to grow at a CAGR of 15.3% from 2019 to 2024, to reach USD 7 billion by 2024.

Increasing adoption of fingerprint sensors in consumer devices to drive the growth of the fingerprint sensor market

Extensive use of fingerprint sensors in consumer devices for biometric authentication, high adoption of biometrics by government bodies as part of enhanced security, and digitization in the time & attendance capturing are driving the growth of the fingerprint sensor industry. However, constraints such as threats pertaining to the biometric database in any organization may hinder market growth.

Based on end-use applications, banking & finance is likely to be the fastest-growing application during 2019-2024

Players across the biometric smart card value chain are interested in increasing the adoption of biometric smart cards among users. For instance, Goldpac Group Ltd. (Goldpac), one of the five largest card integrators globally, and the only secure payment solution provider in China to hold simultaneous certifications by China UnionPay, VISA, MasterCard, American Express, JCB and Diners partnered with IDEX in January 2019, to launch dual-interface biometric smart cards for customers in the country. These developments expected to play an important role in the growth of the fingerprint sensor market for biometric smart cards for banking applications during the forecast period.

APAC to record the highest growth rate in the fingerprint sensor market during the forecast period

APAC is likely to be the fastest-growing region for the fingerprint sensor market in the coming years. Leading players offering fingerprint sensors such as Goodix (China), Egis Technology (Taiwan), Q Technology (China), and CrucialTec (South Korea) are based out of APAC. The factors contributing to the rising demand for fingerprint sensors in APAC include technological advancements in sensing technology, increasing awareness of the benefits of using fingerprint sensing technology among the masses, and the cost-effectiveness of these sensors. Biometric identification technology is famous as a secure and reliable way to verify a person’s identity across the government and commercial sectors in Asia.

The growth of the smart home market is attributed to factors such as a significantly growing IoT market, government support, increasing urbanization, and rising awareness regarding smart home technology in APAC. Rising adoption of smart locks in smart homes provides an opportunity for the fingerprint sensor market growth. Also, new product developments for smart locks are another fueling factor for the growth of the fingerprint sensor market. For instance, in June 2019, Xiaomi launched MIJIA Smart Door Lock with a push-pull release.

Research Coverage

The report defines, describes, and forecasts the fingerprint sensor market based on technology, type, end-use application, and geography. It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the fingerprint sensor market. It also analyzes competitive developments such as collaborations, contracts, and product launches & advancements carried out by the key players to grow in the market.

Key Benefits of Buying the Report

The report will help market leaders/new entrants in this industry with information on the closest approximations of the revenue numbers for the overall fingerprint sensor market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Fingerprint Sensor Market
4.2 Fingerprint Sensor Market, By Type
4.3 Fingerprint Sensor Market in APAC, By Technology and End-Use Application
4.4 Country-Wise Fingerprint Sensor Market Growth Rate

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Extensive Use of Fingerprint Sensors in Consumer Devices for Biometric Authentication
5.2.1.2 High Adoption of Biometrics By Government for Enhanced Security
5.2.1.3 Effective Implementation of Biometric Time and Attendance Systems for Calculating Employee Productivity, Work Hours, and So On
5.2.2 Restraints
5.2.2.1 Threats Pertaining to Biometric Database
5.2.3 Opportunities
5.2.3.1 Emergence of Biometric Smartcards in BFSI Applications
5.2.3.2 Newest Trend of In-Display Fingerprint Sensors in Smartphones
5.2.3.3 Rise in Adoption of IoT-Based Biometric Technology
5.2.4 Challenges
5.2.4.1 Use of Facial Recognition Technology in Different Applications
5.3 Value Chain Analysis
5.4 Recent Trends in Market
5.5 Smartphones With In-Display Fingerprint Sensor
5.6 Different Materials Used in Fingerprint Sensors
5.6.1 Piezoelectric Materials (Quartz)
5.6.2 Pyroelectric Materials (Lithium Tantalate)
5.6.3 Adhesives
5.6.4 Coating Materials

6 Fingerprint Sensor Market, By Technology
6.1 Introduction
6.2 Capacitive
6.2.1 Capacitive Sensors to Continue to Hold Largest Market Share Till 2024
6.3 Optical
6.3.1 Optical Sensor Market to Witness Highest Growth Rate Owing to Rise in Adoption of Optical In-Display Fingerprint Sensors By Smartphone Manufacturers
6.4 Thermal
6.4.1 Use of Sensors in Biometric Smartcards to Create Growth Opportunities for Thermal Sensor Market
6.5 Ultrasonic
6.5.1 Ability of Ultrasonic Sensors to Capture Fine Details to Create Growth Opportunities

7 Fingerprint Sensor Market, By Type
7.1 Introduction
7.2 Area and Touch Sensors
7.2.1 Technological Advances in Touch Sensors Likely to Spur Their Demand in Market
7.3 Swipe Sensors
7.3.1 Need to Ensure Security of Electronic Devices Creates Demand for Fingerprint Sensors

8 Different Products Featuring Fingerprint Sensors
8.1 Introduction
8.2 Smart Devices and Wearables
8.3 Access Control Systems
8.3.1 Biometrics Systems
8.3.2 Digital Locks
8.4 Biometric Smartcards
8.4.1 Financial Cards
8.4.2 ID Cards
8.5 Vehicles
8.6 Others

9 Fingerprint Sensor Market, By End-Use Application
9.1 Introduction
9.2 Consumer Electronics
9.2.1 Smartphones
9.2.1.1 Increasing Popularity of Fingerprint Authentication in Smartphones to Surge Demand for Fingerprint Sensors in Consumer Electronics Applications
9.2.2 Laptops/Notebooks/Personal Computers
9.2.2.1 Rising Use of Fingerprint Technology to Ensure Security Expected to Boost Market Growth
9.2.3 Wearable Devices
9.2.3.1 Growing Efforts of Leading OEMs to Offer Wearables With Dynamic Features to Create Growth Opportunities for Fingerprint Sensors
9.2.4 USB Flash Drives
9.2.4.1 Security Concerns Regarding Data Stored in Portable Storage Devices to Boost Adoption of Fingerprint Sensors
9.2.5 Others
9.3 Travel and Immigration
9.3.1 Increasing Deployment of Biometric Systems at Airports to Drive Augment Demand for Fingerprint Sensors
9.4 Government and Law Enforcement
9.4.1 Government Initiatives to Create Digital Identity of Its Citizens to Provide Growth Opportunities for Market Players
9.5 Banking & Finance
9.5.1 Adoption of Fingerprint Scanners as Alternative to Pin to Authenticate Payment Cards Would Surge Market Growth for Financial Applications
9.6 Commercial
9.6.1 Adoption of Biometric Systems in Various Enterprises and Retail Stores Accelerates Market Growth
9.7 Smart Homes
9.7.1 Development of Smart Locks By Different Original Equipment Manufacturers Offering Growth Opportunity for Market Players
9.8 Healthcare
9.8.1 Need to Protect Identity and Critical Information About Patients to Surge Demand for Fingerprint Sensor-Based Biometric Systems
9.9 Military, Defense, and Aerospace
9.9.1 North America to Lead Market for Military, Defense, and Aerospace Applications
9.10 Others

10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US Market Growth Driven By Adoption of Fingerprint Sensors in Consumer and Banking & Finance Applications
10.2.2 Canada
10.2.2.1 Market Growth in Canada is Subject to Government Initiatives for Border Security
10.2.3 Mexico
10.2.3.1 Banking & Finance and Travel & Immigration Applications Augment Mexican Market Growth
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany Holds Largest Share of European Market
10.3.2 UK
10.3.2.1 Need for Fingerprint-Based Biometric Solutions in Law Enforcement Agencies Accelerates Demand for Fingerprint Sensors
10.3.3 France
10.3.3.1 Government and Law Enforcement and Banking & Finance Applications to Play Important Role in Growth of French Market
10.3.4 Italy
10.3.4.1 Eid Card Program Propels Italian Market Growth
10.3.5 Rest of Europe
10.4 APAC
10.4.1 China
10.4.1.1 Presence of Leading Smartphone Manufacturers to Boost Fingerprint Sensor Growth in China
10.4.2 Japan
10.4.2.1 Cashless Initiatives to Create Opportunities for Fingerprint Technology-Based Biometrics Cards in Japan
10.4.3 India
10.4.3.1 Higher Adoption of Fingerprint Scanners Under Aadhaar Initiative to Surge Demand for Fingerprint Sensors
10.4.4 South Korea
10.4.4.1 Efforts By Leading OEMs to Offer Advance Technology-Based Consumer Devices to Accelerate Demand for Fingerprint Sensors
10.4.5 Rest of APAC
10.5 RoW
10.5.1 South America
10.5.1.1 Banking & Finance Applications to Provide Attractive Growth Opportunities for South American Market
10.5.2 Middle East and Africa
10.5.2.1 Collaboration of Banks With Technology Providers to Adopt Biometric Smartcards Would Surge Demand for Fingerprint Sensors

11 Competitive Landscape
11.1 Overview
11.2 Ranking Analysis of Key Players
11.2.1 Product Launches and Developments
11.2.2 Collaborations and Contracts
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Innovators
11.3.3 Dynamic Differentiators
11.3.4 Emerging Players

12 Company Profiles
12.1 Introduction
12.2 Key Players
12.2.1 Goodix
12.2.2 Fingerprints
12.2.3 Synaptics
12.2.4 Apple Inc.
12.2.5 EGIS Technology
12.2.6 Crucialtec
12.2.7 Next Biometrics
12.2.8 Novatek Microelectronics
12.2.9 Q Technology
12.2.10 Qualcomm
12.3 Other Key Players
12.3.1 CMOS Sensor Inc.
12.3.2 Elan Microelectronics
12.3.3 Focaltech
12.3.4 ID3 Technologies
12.3.5 IDEX Biometrics
12.3.6 Japan Display Inc.
12.3.7 OXI Technology
12.3.8 Sonavation Inc.
12.3.9 Touch Biometrix
12.3.10 Vkansee

For more information about this report visit https://www.researchandmarkets.com/r/dsmtkr

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