Optical Fingerprint Sensor Global Market Outlook, Critical Insights, Trends Analysis, Key Players And Forecast To 2033 | Thales Group, EGiS Technologies Inc., Fingerprint Cards AB, Anviz Global, Suprema Inc.

The Business Research Company recently released a comprehensive report on the Global Optical Fingerprint Sensor Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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 growth in the historic period can be attributed to security concerns, mobile device integration, cost reduction, consumer demand for convenience, and growing concerns regarding identity theft, fraud, and unauthorized access.

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%. The growth in the forecast period can be attributed to advancements in technology, increasing adoption of biometric authentication, government regulations and initiatives, rising smartphone penetration, and a growing IoT (Internet of Things) ecosystem. Major trends in the forecast period include increasing adoption of mobile devices, integration with smart home devices, growth in automotive applications, advancements in sensor technology, and demand for wearable devices.

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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

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

Optical Fingerprint Sensor Market 2024 Key Insights:

• 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%.
• Rising Cybersecurity Threats Fueling Growth In Optical Fingerprint Sensor Market
• Advancements In Optical Fingerprint Sensor Technology With Focus On Live Finger Detection (LFD) Technology
• North America was the largest region in the optical fingerprint sensor market in 2023

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