Fingerprint Sensor Market Size, Share, Industry, Forecast and outlook (2024-2031)

The fingerprint Sensor Market is segmented By Technology (Thermal, Capacitive, Ultrasonic, Optical), By Type (Touch Sensors, Swipe Sensors), By End-User Industries (BFSI, Military & Defense, Consumer Electronics, Government, Healthcare, Travel & Immigration), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Fingerprint Sensor Market Overview

[150 Pages Report] Fingerprint Sensor Market is expected to grow at a high CAGR of 15.7% during the forecasting period (2023-2030).

Fingerprint scanners are security systems of biometrics. They are used to unlock doors and in other security applications. During the 2010s, fingerprint scanners became commonplace on mobile phones. People have a pattern of ridges on their fingers. This fingerprint cannot be removed or changed. Every fingerprint is different from any other in the world. Because there are countless combinations, fingerprints are much used for identification. The success and accuracy of fingerprint technology led to exploring other biometric modalities where an individual’s unique physical characteristics could serve as valuable identifiers in varying use cases.

Fingerprint Sensor Market Scope

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Fingerprint Sensor Market Growth and Trends

Government initiatives to adopt biometrics in different industries and the rising usage of fingerprint sensors for electronic gadgets are the major driving factors for market growth worldwide. Fingerprint biometrics are used to access security-restricted buildings and are an accurate digital identification solution for various government applications such as passports, voter registration, national identification cards, and border control. Biometrics have also been used in the government sector for many years, with fingerprint recognition being the first practical technology adopted. For instance, In India, the latest biometric projects were Aadhar, a national ID project recorded with fingerprint and iris recognition.

Law enforcement has started fingerprinting criminals, recording them on paper cards stored in filing cabinets and warehouse repositories. At present, technological advancements allow the police department to fingerprint a suspect using a biometrics app downloaded willingly.

However, issues with security concerns are the key restraining factor for the growth of the market.

Fingerprint Sensor Market Segmentation Analysis

By technology, the fingerprint sensor market is segmented into thermal, capacitive, ultrasonic, and optical. By type, the fingerprint sensor market is classified into the area and touch sensors, and swipe sensors. The global touch fingerprint sensor market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.

The fingerprint sensor market is divided into BFSI, military & defense, consumer electronics, government, healthcare, and travel & immigration by end-user industries.  The healthcare segment is one of the fastest-growing segments in the forecast period. Hospitals are in the process of transforming themselves by digitizing patient records to provide quick, safe, enhanced, and cost-effective care. Healthcare management applications are moving to biometric iris recognition technology to create accurate patient identification and identify proper insurance status to prevent fraud and duplicate medical records. The global fingerprint sensor market size for the healthcare industry is at a CAGR of 15.7% during the forecast period.

Biometrics Healthcare allows users to access applications and patient data quickly - clinicians touch a fingerprint scanner and get instant access to the records they need on any workstation. Companies are focusing on launching devices that are related to the healthcare industry. For instance, Imprivata delivers leading Biometrics Healthcare authentication management. OneSign FastPass™ for Finger Biometrics allows users to quickly and securely log on to different workstations simply by touching their fingers to a scanner.

Fingerprint Sensor Market Geographical Share

Asia Pacific is expected to grow with a high CAGR rate in the forecast period due to the increase in various applications like government, electronics, healthcare, and many more. India and China are estimated to hold the major market shares in the estimated period. Companies are concentrating on extending their market presence worldwide. For instance, in November 2018, NEXT Biometrics, a global leader in fingerprint sensor technology, announced the company had received an order for its fingerprint sensor modules from China-based Telpo (Telepower Communication Co. Ltd.). Telpo is a new customer and will incorporate the NEXT fingerprint module into point-of-sale (POS) terminals for the Indian market where Telpo is expanding its presence.

Fingerprint Sensor Market Companies and Competitive Landscape

The Fingerprint Sensor market is highly competitive with existing in the market.

Some of the major players include Fingerprint Cards AB, IDEMIA France SAS, Suprema, Inc., CrossMatch Technologies, Inc., Goodix Ltd., Safran Identity & Security (Morpho), Egis Technology, Inc., Synaptics, Inc., Idex ASA, and Gemalto NV.

The key players are adopting various key strategies such as product launches and collaborations that contribute to the growth of the fingerprint sensor market.

In July 2019, Apple announced that they are about to launch a new iPhone for the budget-conscious Chinese market that features an under-display fingerprint sensor instead of expensive Face ID technology.

In September 2017, the World-leading biometrics company Fingerprints' touch sensor FPC1028 was integrated into Huawei's recently launched smartphone, Maimang 6. This is the first product launch with the FPC1028, the most cost-efficient and high-performing touch sensor on the market.