Optical Fingerprint Sensor Market: A Deep Dive into Market Size, Share Analysis, Emerging Trends, and Growth Forecast Shaping the Future!

The new report published by The Business Research Company, titled Optical Fingerprint Sensor Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the optical fingerprint sensor market size has grown rapidly in recent years. It will grow from $1.97 billion in 2023 to $2.18 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The optical fingerprint sensor market size is expected to see rapid growth in the next few years. It will grow to $3.32 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%.

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Rising Cybersecurity Threats Fueling Growth In Optical Fingerprint Sensor Market
A growing emphasis on cybersecurity is expected to propel the growth of the optical fingerprint sensor market going forward. Cybersecurity threats are rising due to increased digitization and interconnectedness, providing more avenues for malicious actors to exploit vulnerabilities in systems and networks. Optical fingerprint sensors enhance cybersecurity by providing a biometric authentication layer, ensuring secure access to devices and systems through unique fingerprint identification, and bolstering overall security measures. For instance, in April 2023, according to the Department for Science, Innovation, and Technology, a UK-based government body, cybercrime affected 11% of businesses and 8% of charities in total. Moreover, this number has increased to 26% of medium-sized enterprises, 37% of large companies, and 25% of high-income charities compared to 2022. Therefore, the growing emphasis on cybersecurity is driving the growth of the optical fingerprint sensor market.

Advancements In Optical Fingerprint Sensor Technology With Focus On Live Finger Detection (LFD) Technology
Major companies operating in the optical fingerprint sensor market are focusing on advancing sophisticated biometric authentication technologies such as live finger detection to bolster security and remain proactive against evolving threats in digital authentication. Live finger detection (LFD) technology is a system designed to distinguish between live human fingers and fake replicas, such as silicone or gelatin molds, used to deceive fingerprint recognition systems. For instance, in February 2021, Aratek International, a Taiwan-based provider of biometric devices and digital identity solutions, launched the FBI FAP30 Aratek A700 fingerprint scanner. The A700, meticulously designed to meet the growing demands of various applications requiring enhanced reliability, stands out as a comprehensive FAP 30 optical fingerprint scanner with a larger sensing area (20.32 x 25.4 mm) for efficient capture of biometric data from a single finger, incorporating Live Finger Detection (LFD) and AES-256 encryption for added security.

The optical fingerprint sensor market covered in this report is segmented -

1) By Type: Photo Diode, Charged Coupled Device, Complementary Metal-Oxide-Semiconductor (CMOS) Optical Imagers, Cover Plate, Lens
2) By Technology: Electro-Optical Imaging, Multi-Spectral Imaging
3) By Application: Consumer Electronics, Military And Defense, Banking And Finance, Telecommunications Operators, Government Agencies, Healthcare, Smart Homes, Commercial Security

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Major companies operating in the optical fingerprint sensor market are Qualcomm Technologies Inc., Thales Group, Microchip Technology Incorporated, Novatek Microelectronics Corporation, IDEMIA, Japan Display Inc., Synaptics Incorporated, Shenzhen Goodix Technology Co. Ltd., EGiS Technologies Inc., Fingerprint Cards AB, Anviz Global, Suprema Inc., Vkansee Technology Inc., Melfas Inc., CrucialTec, BioEnable Technologies Pvt. Ltd., Aware Inc, CMOS Sensor Inc., BIO-key International Inc., SecuGen Corporation, ID3 Technologies, FocalTech Systems Co. Ltd., Vkansee Technology Inc., NEXT Biometrics Group ASA, IDEX Biometrics ASA

Contents of the report:
1. Executive Summary
2. Optical Fingerprint Sensor Market Report Structure
3. Optical Fingerprint Sensor Market Trends And Strategies
4. Optical Fingerprint Sensor Market - Macro Economic Scenario
5. Optical Fingerprint Sensor Market Size And Growth
…..
27. Optical Fingerprint Sensor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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