Fingerprint Sensors Market Anticipated to Reach $12.82 Billion by 2023

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According to a new market intelligence 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.

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.

According to Rachit Jain, Analyst at BIS Research, "In terms of geography, Asia- Pacific (APAC) fingerprint sensors market is expected to witness the fastest growth throughout the forecast period. The increasing usage of mobile devices and growing penetration rate of fingerprint sensors in mobile devices is one of the driving factors for the market in the region. Moreover, the introduction of government biometric projects such as national ID programs, passports, and visas will drive the growth in the market. However, in terms of application, the automotive sector is expected to witness the fastest growth. This growth can be attributed to the increasing interest of car manufacturers towards implementing fingerprint solutions in their cars to strengthen the car's security."

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.