Global Fingerprint Sensors Market at a Rate of 15.69% CAGR by 2027
KEY
FINDINGS
The automated method of
verifying a match between two human fingerprints is technically termed as fingerprint recognition or fingerprint
authentication. It is used to identify individuals & further verify their
identification details. It is the oldest
biometric technology used for identification. The global fingerprint sensors market is anticipated to grow at a rate of 15.69% CAGR to capture $14.51
billion by 2027, during the forecast period. The base year considered for the
market study is 2018 & the estimated period is between 2019 & 2027.
MARKET
INSIGHTS
With the mounting user
reception for biometric-enabled smart devices, the uptake of fingerprint
biometrics in smart devices, like that of smartphones, laptops, & tablets,
is increasing, that is creating a
positive impact on market revenue. The governments across many countries are
also imposing regulations for warranting the custom of fingerprint biometrics
among the end-users. An increase in the usage of mobile devices among various
end-users, such as government, enterprise, healthcare, & BFSI, will increase
the need for security in the upcoming years. An observation has been made with
respect to one of the end-users with the largest reach, namely the
healthcare sector. As more healthcare networks begin storing patient records
electronically, they have become increasingly concerned with security, and
thus, many are turning towards biometrics. However, the fingerprint biometric
devices are vulnerable to spoofing, physical attack, & damage to cables
& wires.
REGIONAL
INSIGHTS
The report on global
fingerprint sensors includes segmentation on the
basis of various geographic regions. North
America, Europe, Asia Pacific, and the remaining countries collectively forming
the Rest of the World regional segment are
the major contributors by revenue for the market to proliferate further. The Asia Pacific is the
largest & the fastest growing market out of all other regions. It accounted
for XX% of the total market share in 2018 in terms of revenue & is likely
to grow further during the forecast period. The increasing usage of mobile
devices & growth of fingerprint sensors in mobile devices is one of the key
driving factors for the market in the region.
COMPETITIVE
INSIGHTS
Bio-Key International, HID
Global, OT-Morpho (Safran Identity & Security), Synaptics, Anviz Global,
Fulcrum Biometrics, Innovatrics, M2SYS Technology, Gemalto NV, Precise
Biometrics, Aware Inc., Crossmatch Technologies, NEC Corporation, Next
Biometrics, and Fingerprint Cards AB are the major market players that have
been exhaustively profiled in the report. Market share analysis, key company
analysis, key corporate strategies along with company profiles of the key
companies are detailed in the report.
Most of the mentioned companies determine and apply the strategies like merger
& acquisition, partnership, contracts, agreements, or new product launch to
gain a competitive edge over each other.
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