Fingerprint Sensors Market - Forecasts from 2024 to 2029

Fingerprint Sensors Market - Forecasts from 2024 to 2029

The fingerprint sensors market is expected to grow at a CAGR of 13.21%, reaching a market size of US$11.084 billion in 2029 from US$5.961 billion in 2024.

Fingerprint sensors are used to provide authorization and authentication by extracting the distinctive features of each fingerprint using tiny capacitors. The market is expanding as a result of components being used in more and more consumer electronics devices, such as laptops, tablets, smartphones, and many more. Due to their many uses, security systems installed in offices and commercial buildings would also drive the need for fingerprint sensors. This has boosted the fingerprint sensor market at an almost unprecedented rate. The fingerprint sensors are a secure means of accessing areas and/or quarters restricted to certain individuals' profiles only. These components also come with the ability to be integrated with more capabilities like facial recognition, which further augments the fingerprint sensor market growth.

Additionally, the financial imperative of monitoring employee entry and exit times is also a factor driving the fingerprint sensor market’s growth. Human resource departments must understand the areas where employees can improve to ensure that they adhere to organizational norms, even though the primary objective of fingerprint sensors is to provide authorization.

Fingerprint Sensors Market Drivers:

High demand from the consumer electronics industry

The consumer electronics industry will substantially contribute to the fingerprint sensor market’s expansion. Consumer electronic products have witnessed exponential growth during recent years, majorly due to fierce competition among high-volume consumer electronics manufacturers. The developed and emerging economies have led smartphone manufacturers to make fingerprint scanning facilities available for entry-level phones as well. Additionally, the dwindling price of smartphones and the growing aspiration for feature-rich smartphones has led to the fingerprint sensor market’s growth. To attract more potential customers, laptop manufacturers are also promoting the security features of their products. These sensors are implemented due to the growing need for data and hardware protection.

Fingerprint Sensors Market Geographical Outlook

The Asia Pacific is witnessing exponential growth during the forecast period

The government's initiatives and the rise in mobile transactions in China are anticipated to be the main factors propelling the fingerprint sensors market in that nation. Many mobile transactions are occurring in China, which is anticipated to expand the market's potential. Concerning the vehicles of future generations, there is an aspiration on the part of Japanese players in the automotive sector to encompass fingerprint sensors. Fingerprint sensors are in high demand, especially within South Korea, because there has been an increasing reliance on payment cards and a surge in the necessity for biometric payment cards. Currently, several market vendors are attempting to incorporate biometric technology. This product will transform the banking industry and lead to a massive increase in bank customers nationwide and an array of end-users.

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Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The Fingerprint Sensors market is segmented and analyzed as follows:

By Type

Area Sensors
Swipe Sensors

By Technology

Thermal Sensors
Optical Sensors
Ultrasound Sensors
Capacitive Sensors
Others

By End-User Industry

Consumer Electronics
Defense
Government
Healthcare
Travel and Transport
Residential
Banking & Finance
Others

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
Japan
China
India
South Korea
Indonesia
Thailand
Taiwan
Others