Fingerprint Scanner Market is Driven By Online Payment Transaction And In Smartphone Applications

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.

The global fingerprint scanner market is classified on the basis of type into the swipe and area & touch varieties. The latter is estimated to expand at a high rate during the forecast period as it is preferred by several OEMs due to its accuracy, smaller size, and convenience. Based on technology, the fingerprint scanner market is categorized into the capacitive & RF capacitive sensing, optical sensing, and others segments. The capacitive & RF capacitive sensing technology is predicted to dominate the market during the forecast period due to its compactness and high accuracy. Based on end-user, the fingerprint sensor market is divided into the following categories: consumer electronics, aerospace & defense, immigration, banking & finance, health care, and others. The rising demand for consumer electronics is expected to drive this segment during the forecast period besides the increasing use of fingerprint sensors in laptops, tablets, and smartphones.

In terms of geography, the global fingerprint scanner market has been distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a major share in the fingerprint scanner market in 2016. The market in Asia Pacific is predicted to display growth during the forecast period due to the burgeoning consumer electronics sector in the region. The government here has started taking the initiative to implement biometric systems due to security concerns. In October 2016, Japan’s Ministry of Economy, Trade, and Industry planned to test cashless payment using the fingerprint technology to make transactions easier and safer for tourists. These are the primary propellants of the market in this region.

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Key players operating in the global fingerprint scanner market include Apple Inc. (The U.S), Synaptics Inc. (The U.S), Goodix Ltd. (China), NEC Corporation (Japan), and Thales SA. (France), BioEnable Technologies Pvt Ltd. (India), SecuGen Corporation (The U.S), HID Global (The U.S), Fingerprint Cards AB (Sweden) among others.

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