Fingerprint Sensors Market Projected to Witness Vigorous Expansion at CAGR of 18% with APPLE, SYNAPTICS, FINGERPRINT CARDS AB, GOODIX, EGIS TECHNOLOGY, SILEAD, IDEX ASA, SAFRAN IDENTITY & SECURITY, SUPREMA by 2023

The fingerprint sensors market was valued at USD 9.61 billion in 2017 and is expected to reach a value of USD 25.94 billion by 2023 at a CAGR of 18% over the forecast period of 2018-2023. The scope of the report is limited to solutions offered by major players including providers of swipe sensors and area and touch sensors. The regions considered in the scope of the report include North America, Europe, Asia-Pacific and the rest of the world.

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The market for fingerprint sensors is dominated majorly by security and access control devices, and the rising demand from consumer electronics is growing owing to the adoption of biometric systems. While defense, law enforcement, and other government institutions are investing heavily in security upgrading, with focus on access control systems supporting the growth of the market, mobiles phones have been the major contributors with many companies providing these sensors in mobile devices. With increasing mobile shipments, these sensors have witnessed a subsequent rise in their adoption.

Key Developments in the Market
• December 2017: Synaptics Incorporated had announced mass production with a top five OEM of its new Clear ID FS9500 family of optical in-display fingerprint sensors. The new Synaptics Clear ID optical fingerprint sensors deliver one-touch high-resolution scanning through full cover glass and enable sleek, button-free, bezel-free infinity displays. Synaptics’ high-performance Clear ID FS9500 optical solution excels with wet, dry and cold fingers, and since it is protected by glass, is durable, scratch proof, and waterproof.
• February 2017: Goodix debuted its innovative biometric solutions for display. This was the world’s first fingerprint sensor integrated into the AMOLED display of mobile devices. The sensor’s state-of-the-art technology had brought about a new generation of mobile device design. Its fingerprint authentication and touch solutions are already in use in many global device brands, including HUAWEI, OPPO, Vivo, Xiaomi, ZTE, LG, Nokia, and ASUS.

The major players include –
APPLE INC., SYNAPTICS INC., FINGERPRINT CARDS AB, GOODIX LTD, EGIS TECHNOLOGY, INC., SILEAD, INC., IDEX ASA, SAFRAN IDENTITY & SECURITY (MORPHO), SUPREMA, INC., DERMALOG IDENTIFICATION SYSTEMS GMBH, CROSSMATCH, 3M COGENT INC., NEC CORPORATION, and THALES SA, amongst others.

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Moreover, with a drop in the technology cost, vendors are focusing on new applications with integration in locks, remotes, and other consumer electronics and goods to add smart security features. However, factors such as the lack of awareness about the importance of security and complexity of integration of smartphone-like devices with fingerprint sensors can detain the growth of fingerprint sensor market.

Increasing Usage of Fingerprint Sensors for Smart Wearable Devices and Smartphones
The increasing penetration of smartphones has caused an increased demand for advanced biometric locking systems, causing smartphones to be the fastest growing segment of this market during the forecast period. Additionally, smart devices are being used for almost every activity, such as bill payments, purchases, and even banking. Therefore, there is an increased need for secure biometric authentication systems. This has led to the growth in the demand for fingerprint sensors. In 2016, there was a high increase in penetration for smart devices in the United States whereas, in Canada, the penetration rate was relatively lower. Thus, the market for fingerprint sensors is expected to be driven by the growth and penetration of smart devices.

Military and Defense Application to Register Significant Growth
Owing to the terrorist attacks and other suspicious activities, many security organizations across the world ramped up their security apparatus to thwart further terrorist attacks. The importance of security and control is guided by the degree of sensitivity, nature, and environment. Some of the applications of the fingerprint sensors systems in the military are military bases authorized perimeter access, personal security systems for military installations, and others. Moreover, there is an increased spending on defense worldwide, which will also offer opportunities for the market to propel. In June 2017, Canadian Defence Minister Harjit Sajjan unveiled a 20-year policy review that had been in the works for months. According to this policy, armed forces budget would jump by 73% to CAD 32.7 billion in 2027 from CAD 18.9 billion in 2017, with the biggest increases coming in later years.

North America Accounted for the Major Share
The fingerprint sensing technology is no longer in its infancy in North America, and the advancements in technology have led to its wider adoption in several application segments. Secure access control is the major driver for the growth of fingerprint sensors. Access control for entry is done using biometrics, in which smart touch sensors and smart fingerprint sensors are used. The sensors are further used for employee monitoring, security breaches and intruder alerts in the region. Moreover, in the United States, the penetration rate of smartphones is extremely high, and is expected to cross 85% by 2017. The high replacement rate of smart devices indicates a potential of about more than 80 million devices, in the next two years. All the above factors are expected to drive the market for fingerprint sensors.

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