Global Fingerprint Sensor Market By Geography
The Global Fingerprint Sensor market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. The North America Fingerprint Sensor market held the largest share in 2022. On the other hand, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period (2022-2028)
The market dominance of North America is due to the early adoption of technology and the presence of key players like Apple Inc., Qualcomm Technologies, Inc., and others in the region. Moreover, there has been an increase in investment by the government in the region for border surveillance and homeland security which is further driving the revenue growth of the market.
Competition Scenario In Global Fingerprint Sensor Market
The Global Fingerprint Sensor Market is highly competitive with more than 300 players which include globally diversified players, regional players as well as a large number of country-niche players in the Fingerprint Sensor market.
The large global players constitute ~10% in terms of the number of competitors followed by regional players which account for ~30% of the constitution. Most of the country-niche players deal with the local demand of the region. Some of these who successfully evolve to create application-specific solutions often get acquired by large global players seeking to grow and diversify quickly.
What is the Expected Future Outlook for the Overall Global Fingerprint Sensor Market Across the Globe?
The Global Fingerprint Sensor market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Fingerprint Sensor market is driven by increase in the number of intelligent devices, such as tablets, laptops, biometric devices, smartphones, and smart wearables per person. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaborations and emergence of new products, the Global Fingerprint Sensor market is changing rapidly. For instance, In September 2021, IDEMIA launched the SaaS-based Automated Biometric Identification System (ABIS), IDEMIA STORM ABIS, for affordable, accessible, and intuitive fingerprint analysis, documentation, and comparison. IDEMIA STORM ABIS supports national and local searches with the help of tools for analysis, comparison, and case management that allows fingerprint examiners to efficiently and effectively complete examinations from any place.
In July 2021, Fingerprint Cards collaborated with a Tokyo-based Company named MoriX Co. Ltd to launch and develop biometric payment cards in Japan. This collaboration would bring Japanese consumers a more secure, safe, and easy payment experience.
In May 2022, Fingerprint Cards collaborated with Transcorp and Mswipe to bring contactless biometric payment cards to India. This payment card range would add convenience and easy payments for merchants and consumers in the region.
The Global Fingerprint Sensor Market is forecasted to continue moderate growth, which is primarily driven by the rising adoption of biometric fingerprint Sensors for accurate identification, faster access, and higher security. The market size is estimated to be US$ 5 Bn in 2022 and is expected to reach US$ 9 Bn by 2028 growing with a CAGR of 10%. North America is the dominant region in terms of revenue generation; however, the Asia Pacific region is expected to grow at a higher pace. Though the market is highly competitive with ~300 participants, few global players control the dominant share and regional players also hold a significant share.
By End-User Industries
- Consumer Electronics
- Travel and Immigration
- Government and Law Enforcement
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Middle East
- Fingerprint Cards AB
- Egis Technology.
- Vkansee Technology Inc.
- Apple Inc.
- CMOS Sensor Inc
- Touch Biometrix
- Q Technology
- Qualcomm Technologies, Inc
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