Fingerprint Scanner Market-The emergence of mobile commerce

Fingerprint scanners are a type of biometric system which uses stored information about a person’s unique fingerprint traits for authentication purposes and to provide access to a system. These scanners are widely used across various end-user segments including consumer electronics, commercial, health care, and defense. The global fingerprint scanner market is expected to witness robust growth from 2017 to 2025 owing to the product’s high accuracy and low cost. The significant adoption of fingerprint scanners in cloud computing along with their extensive use in smartphones are likely to boost the demand for them in the next few years. In addition, fingerprint scanner have significant application in online payment transaction and in smartphone applications.

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The global fingerprint scanner market is predicted to expand rapidly during the forecast period due to the emerging trend of the single sign-in system which helps the user to log on to his or her computer with a single touch of the finger rather than having to use a password or login ID every time. It provides security; eliminates the use of patterns, PIN codes, and passwords; and reduces threats related to stealing, hacking, and misuse of data. The emergence of mobile commerce is another important factor anticipated to drive the market for fingerprint scanners during the forecast period. The product offers advanced security in banking and other payment applications for mobile users. Mobile payments are increasing gradually with more people transferring money and shopping on phones. For instance, application such as Apple Pay and Samsung Pay are likely to drive the fingerprint scanner market.

Despite the multiple drivers, the lack of awareness among users regarding security issues and absence of standardization in the process of implementation & development of the technology are projected to lower its adoption rate during the forecast period.

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