Global Fingerprint Sensor Market: Snapshot
Recently, the Indian Government made it mandatory to have a unique identity card to all Indian residents. This decision warrants the verification of each personal identity. The data collected include a combination of biometrics such as fingerprints and iris impression. Every individual human fingerprints are unique, that makes them suitable for unique human identity.
A fingerprint sensor captures the exact biological feature of a fingerprint and compares it with the existing biometric template stored in the database to provide authentication to the user. Fingerprint sensors act as the brain for secure communication and transactional devices. The most common instance of a finger sensor is Apple Touch ID. The sensor is made up of multiple layers of pyroelectric material that detect the finger temperature translates into a change in the capacity distribution of its surface. Ultrasonic sensors uses piezoelectric material to measure sound waves. Capacitive sensors are electric fingerprint sensors.
According to a recent business intelligence report released by IndustryARC, the global fingerprint sensor market was valued to be $4 billion to $5 billion as of 2018, and it is projected to grow with a staggering CAGR of 14% during the forecast period of 2019 to 2025.
Global Fingerprint Sensor Market: Competitive Landscape and Recent Developments
- Goodix: Live Finger Detection
The revenue of Goodix was valued to be $583 million in 2017. Goodix live finger detection provides both software as well as a hardware solution for fingerprint authentication, network security, and data storage encryption in consumer devices. The improved security can be used in smart locks, wearables, IoT products, and automotive. This solution is expecting large scale commercialization in the fingerprint sensor market.
- Egis Technology: the ET320 fingerprint sensor
Egis is a longstanding board of member and coworker of the FIDO Alliance. Furthermore, Egis has been certified with Universal Authentication Framework and Universal 2nd Factor architecture from FIDO. Egis recently reinvented its product strategies and moved towards fingerprint sensor integrated with automotive and smart home appliances using chip FAR/FRR to increase the efficiency. This key design will help the company market itself in the fingerprint sensor market over time.
- Fingerprint Cards: Dual Interface Payment Cards
Fingerprint cards working together with FPC ActiveIRIS Technology to enhance their portfolio in mass-market consumer devices. Furthermore, Fingerprint signs partnership with Gemalto to create the dual-interface payment cards with T-shape fingerprint sensors. This secure biometric card provides a solution for the customers, which is boosting the growth of the fingerprint sensor market.
- NEXT Biometrics: One Touch Flex CT-150
One touch flex CT-150 module includes a microprocessor to control the fingerprint sensor scan, feature extraction, communication, and perform image processing. Smart Cards with One Touch Flex CT-150 solution can sustain bending. The sensor format consistently handles complexities such as varying finger and environmental conditions. The demand for one-touch flex is growing continuously in the fingerprint sensor market.
Global Fingerprint Sensor Market: Growth Drivers
Security is provided to the users with a fingerprint sensor so that no one else can access into their data is the consistent reason for the growing demand of fingerprint sensor in the market. Previously, fingerprint sensing technique was widely used in banks for people who find difficulty in doing signature, but this technique with technology effort becomes the latest security trend. Emerging mobile and internet-based commerce option has further enhanced the fingerprint market globally. Finger sensors have various end-use applications including defense, retail, education, healthcare, financial, and the government sector due to which fingerprint sensor market is flourishing. Growing innovation in fingerprint sensors with augmented and virtual reality is a further bigger step from OEM to gain higher profit and long-run competition with other key players in the fingerprint sensors market.
Global Fingerprint Sensor Market: Leading segments
The analyst of IndustryARC estimates that the tangible progression of global fingerprint sensor market is attributed to the increasing demand for smartphones and wearable devices. Banking & Finance is the major application that will grow with an impressive CAGR of around 15% to 17% through to 2025. Furthermore, APAC was the leading region with a gas detector market share of between 29%-31% in 2018.
Conclusion
Fingerprint sensor captures the exact biological feature of a fingerprint and compares it with the existing biometric template stored in the database to provide authentication to the user. It is used for various applications including defense, retail, education, healthcare, financial, and the government that is one of the factors growing the market. Growing smartphone usage in the APAC region is leading to the fingerprint sensor market growth.
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