Banking & Finance application holds a major share in the fingerprint sensor market, and is estimated to grow at a profitable CAGR of around 15% - 17% over the forecast period 2019-2025. Increasing usage of fingerprint sensors in electronic banking for online transactions to enrich the security of user account and to avoid privacy issues of an account holder. Growing adoption of multi factor authentication systems by using biometric technologies are supporting progressive transactions through mobile banking applications. All these factors together contributing for the growth of fingerprint sensor market.
On the basis of geographical analysis provided in the IndustryARC market research report, APAC region held a major share of around 29% - 31% in 2018. Mounting demand for fingerprint sensors from smartphone vendors such as Vivo, Samsung, Huawei, Xiaomi, and OPPO to produce cost effective solutions in eminent countries such as China, India South Korea, and Taiwan are influencing the share of APAC.
Global Fingerprint Sensor Market Trends
Multi-factor authentication systems domineering role in augmenting security through one time password coupled with fingerprint, face recognition, and retina scanner
Proliferating use of capacitive fingerprint sensors in mobile applications due to their high resolution, transparency and reliability
Smart phone manufacturer’s market strategies such as partnerships, and product developments are boosting the growth of fingerprint sensor market. Samsung announced to introduce mid-range and premium phones with in-display fingerprint sensors as a part of it. Qualcomm has become a partner of Samsung’s plan to develop those sensors. Scientists from the Samsung Display-UNIST Centre at Ulsan National Institute of Science and Technology in South Korea, has developed a new sensor which enables the detection of a finger pressing on the display and also it improves the design of smartphones
Growing implementation of In-display sensors technology by the smart phone manufacturers due to bezel less display revolution is estimated to increase the share of in-display sensors through to 2025
Global Fingerprint Sensor Market: Competitive Landscape
Some of the major companies identified in the report that are currently holding majority shares in the global fingerprint sensor market are Apple, Goodix, Egis Technology, Fingerprint Cards, Synaptics, IDEMIA, NEXT Biometrics, Anviz Global, IDEX ASA, and Gemalto
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