Finger Print Sensors Market Size will Grow at a Robust Pace through 2025

Posted by mahendra lunkad on October 16th, 2017

The finger print scanner is used to authenticate and provide authorization to the individual. It captures the biological features in the live scan of the finger prints and compares it with the existing biometrical identity stored in the database. It provides fast, reliable and easy access to personal common details, mails, location, payment information and other form of encrypted data. These authentication systems are commonly used for commercial identification and securities. The finger print sensors are also used for keeping records of attendance and its management through biometrics and the portals.

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Growing need for simplified, easy and secure user access to data & other services coupled with increasing demand for biometric authorization and authentication will fuel the finger print sensors market over the forecast period. Demand shift for security checks by biometrics in government and corporate organizations is also one of the prominent factors driving the finger print sensors market over coming years. Rapid implementation of fingerprint based authentication system across numerous applications especially in government and military & defense is anticipated to fuel the industry demand.

Increasing adoption of finger print sensors in consumer electronics such as tablets, smart phones and laptops is expected to drive the finger print sensors market. Internet of Things (IoT) will be the emerging technological trend with considerable revenue potential over the forecast timeframe. As IoT is still in its infancy, the sensing devices will occupy considerable physical layer of IoT architecture thereby providing the required connectivity for digital and physical worlds.

Technical problems related to conditional physical disability and false rejections are expected to hinder the market over the forecast timeline. Touch less biometric modalities are expected to challenge the finger print sensors adoption. The finger print sensors are being coupled with other biometric modalities for multi-factor authentication providing further opportunities for the market over the forecast period.

Fingerprint sensing is one of the most widely deployed sensing types amongst the most biometric modalities owing to its lower costs. Rapid urbanization is also one of the macroeconomic key trend supporting the industry demand as it has become an important aspect in order to provide enhanced security, safety and convenience. Growing smartphone demand in last 3 years is a prime example backing the industry trend. For instance, Apple’s introduction of finger print sensors in its iPhone has resulted in enhanced consumer confidence about using biometrics in the mobile phones.

Growing urbanization has increased the threat of fraudulent activities. Web App attacks and Point of Sale (PoS) intrusions are the top fraudulent activities amongst others, according to Verizon Breach Report 2016. Current smartphones are having capabilities of user identification, are used mainly for e-commerce and banking applications where security is of high importance. For instance, in 2014, Samsung in collaboration with PayPal has introduced a new biometric feature which allows its smartphones to use fingerprint authentication for mobile payments with PayPal merchants. Currently, this feature has adopted by other merchants and manufacturers in order to sustain in the industry competition as customers globally get accustomed to use fingerprint sensors.

Retailing applications has increasingly migrated from the in-shop purchase to the e-commerce models using mobile devices and web. Increasing greater level of convenience combined with robust security are full filling customers’ demand in the retail industry. E-commerce channels are already prevalent in Europe & the U.S. and are gaining prominence in emerging economies. Future retail channel strategies will involve internet retail, mobile apps, virtual stores and interactive kiosks.

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The finger print sensors market can be segmented by application into military & defense, government, banking & finance, and mobile devices. By technology the industry can be segmented into thermal, capacitive and optical. Atmel Corporation, Fujitsu Ltd., Fingerprint Cards, Synaptics Inc., 3M Congent Inc., and Egis Technology Inc. are some of the prominent industry participants in the finger print sensors market.