Press release
Fingerprint Sensor Market Surges, Anticipated to Reach $13.38 Billion by 2028
Fingerprint Sensor Global Market Report
Experiencing rapid growth, the fingerprint sensor market is set to escalate from $5.89 billion in 2023 to an estimated $6.97 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 18.4%. The market is poised for continuous expansion, projecting a growth to $13.38 billion by 2028 with a CAGR of 17.7%.
Key Growth Drivers:
Government Adoption of Biometrics Drives Market Growth:
The widespread adoption of biometrics by governments plays a pivotal role in fueling the growth of the fingerprint sensor market. Fingerprint sensors are instrumental in biometric identification and attendance monitoring within government offices globally. Notably, the UK police adopted mobile fingerprint scanners for on-the-spot identity verification, facilitating rapid suspect identification. This collaboration utilizes INK Biometrics mobile biometric solutions with crossmatch fingerprint sensor devices, highlighting the increasing integration of fingerprint sensors in government operations.
Surge in Mobile Connections Fuels Market Growth:
The escalating number of mobile connections is anticipated to propel the fingerprint sensor market, with mobile devices utilizing fingerprint sensors for enhanced security, streamlined transactions, and device encryption. Notably, the UK witnessed a 3.8% increase in mobile connections, reaching 71.8 million in 2023. The widespread ownership of smartphones, expected to encompass 95% of the UK population (65 million individuals) by 2025, contributes significantly to the growing demand for fingerprint sensors.
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Major Players:
Leading companies in the fingerprint sensor market include Cogent Systems Inc., Anviz Global, Apple Inc., Egis Technology Inc., and other key industry players.
Technological Advancements:
Secugen's Certified Fingerprint Reader and OEM Sensor:
Technological advancements remain a key trend in the fingerprint sensor market, with companies focusing on innovative solutions to meet consumer demands. SecuGen Corporation, a US-based optical fingerprint technology company, introduced the Hamster Pro 30 fingerprint reader and OEM sensor U30, both certified by the FBI. These advancements support FIPS 201 PIV and Mobile ID FAP 30 applications.
Idemia's MorphoWave Contactless Terminals:
Major companies respond to surging demand with innovative products such as MorphoWave, a range of contactless fingerprint terminals. IDEMIA, a US-based security company, launched MorphoWave contactless fingerprint terminals in January 2022, incorporating cutting-edge advancements in Artificial Intelligence utilization to meet growing demand.
Regional Insights:
Asia-Pacific emerged as the largest region in the fingerprint sensor market in 2023, encompassing comprehensive coverage of Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The fingerprint sensor market covered in this report is segmented -
1) By Type: Area And Touch Sensors, Swipe Sensors
2) By Technology: Capacitive, Optical, Thermal, Ultrasonic
3) By Sensor Technology: 2D, 3D
4) By Application: Consumer Electronics, Government And Law Enforcement, Military, Defense, And Aerospace, Travel And Immigration, Banking And Finance, Commercial, Healthcare, Smart Homes, Other Applications
Access the Complete Report for In-Depth Analysis:
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Fingerprint Sensor Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Fingerprint Sensor Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on fingerprint sensor market size, fingerprint sensor market drivers and trends, fingerprint sensor market major players, competitors' revenues, market positioning, and fingerprint sensor market growth across geographies. The fingerprint sensor market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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