Market Scope
Market Research Future (MRFR) expects the global optical fingerprint sensor market 2020 to attain a valuation of USD 1 billion by 2023-end. It is also estimated that the market can advance at a decent rate of 12% between 2017 and 2023, which is the forecast period. We will provide covid-19 impact analysis with report.
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Primary Boosters and Main Deterrents
Optical fingerprint scanning technology has been observing a rapid surge in its adoption rate, on account of its high accuracy level and affordability that makes it a big hit among price-sensitive end-users. A mounting need to safeguard sensitive data and information within an intensely competitive environment prompts am increase in the adoption of fingerprint sensors. With a widespread use in commercial security, the optical fingerprint sensor technology has a broad application range across various industries, which induces major market growth across the globe.
Vastly utilized in various consumer electronics, the frequent advancements in the display technology coupled with security have given rise to lucrative opportunities that result in business expansion. The flourishing consumer electronics industry along with the rampant demand of these products has boosted the demand for optical fingerprint sensors. New applications paired with the associated markets are projected to expand in the coming years, which can drive the market growth for optical fingerprint sensors. The increasing number of attractive opportunities and the technological advancements that are underway in the field can also benefit the optical fingerprint sensor market during the appraisal period.
Speaking of opportunities, optical fingerprint sensors are extensively deployed in smartphones. However, the latest trend is the increasing use of in-display optical fingerprint sensors in smartphones that can pave the way for better growth prospects in the market. As of now, the technology is considered highly affordable; however more developments are ongoing to come up with lower priced systems to draw in the attention of more consumers. This is bound to ensure market growth in the approaching years.
MRFR provides the latest impact analysis on COVID-19, revealing that in just few months, the semiconductor industry has been drastically affected by the recent crisis. Taking into account the long-term impact of covid-19, the semiconductor sector will however remain resilient, in line with the companies adopting the work-from-home strategy to ensure their operations continue in the coming time. Therefore, with the rising use of digital platforms, the demand for data centers, laptops, and other gadgets has skyrocketed in the face of the present lockdown situation. Although the short-term impact of the pandemic can lead to slight inconvenience, the growth potential of the optical fingerprint sensor market seems quite high.
Market Segmentation
The market for optical fingerprint sensors has been considered for component, technology and application.
The primary components covered in the market study are charged coupled device (CCD), photodiode, cover plate and lens as well as CMOS optical imagers. Between these, the lead has been taken by the CCD segment and the CMOS segment, given their combined use in fingerprint sensors.
The main technologies studied are electro-optical imaging as well as multi-spectral imaging. Electro-optical imaging is one of the most popular techniques in optical fingerprint sensors, as a result of which it is holds the biggest share in the global market.
The applications of optical fingerprint sensors are government agencies, healthcare, military & defense, smart homes, telecom operators, banking & finance, commercial security, consumer electronics, and more. Banking & finance, commercial security and telecom can exhibit higher demand in the coming years, and show fast growth during the given period.
Regional Study
The regional study of the optical fingerprint sensor market covers Europe, North America, Asia Pacific (APAC) and the Rest of the World (RoW).
The dominance of the APAC market is apparent, given the strong presence of a massive number of celebrated tech vendors in the consumer electronics and semiconductors industries. The high concentration of a number of renowned smartphone OEMs like Oppo, Samsung, Xiaomi and Vivo in China; increasing deployment of biometrics systems in retail and the mounting need to bring down the fraud incidents and provide safe access to the logical and physical assets in commercial applications also benefit the optical fingerprint sensor market. The increasing awareness levels about the benefits of optical fingerprint sensing technology and the appeal of its cost-effectiveness also drives the APAC market.
North America is one of the strongest contenders in the global market for optical fingerprint sensors, spearheaded by the US and Canada. The market study suggests that the frequent technical advancements and the increase in security-related concerns push the uptake of optical fingerprint sensors in the region.
Top Contenders
Top contenders in the industry include Securlinx Integration Software (U.S.), Fingerprint Cards AB (Sweden), BioEnable Technologies Pvt. Ltd. (India), VocalZoom (Israel), Vkansee (China), Bio Key International Inc (U.S.), SecuGen Corporation (U.S.), Shenazhen CAMA Biometrics Co.Ltd (China), Aware Inc (U.S.), Bayometric (U.S.), Synaptics Incorporated (U.S.), to name a few.
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Market ScopeMarket Research Future (MRFR) expects the global optical fingerprint sensor market 2020 to attain a valuation of USD 1 billion by 2027-end.
We will provide covid-19 impact analysis with report.Primary Boosters and Main DeterrentsOptical fingerprint scanning technology has been observing a rapid surge in its adoption rate, on account of its high accuracy level and affordability that makes it a big hit among price-sensitive end-users.
A mounting need to safeguard sensitive data and information within an intensely competitive environment prompts am increase in the adoption of fingerprint sensors.
With a widespread use in commercial security, the optical fingerprint sensor technology has a broad application range across various industries, which induces major market growth across the globe.Vastly utilized in various consumer electronics, the frequent advancements in the display technology coupled with security have given rise to lucrative opportunities that result in business expansion.
The increasing number of attractive opportunities and the technological advancements that are underway in the field can also benefit the optical fingerprint sensor market during the appraisal period.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/4750Speaking of opportunities, optical fingerprint sensors are extensively deployed in smartphones.
However, the latest trend is the increasing use of in-display optical fingerprint sensors in smartphones that can pave the way for better growth prospects in the market.
The report "Fingerprint Sensor Market by Technology (Capacitive, Optical, Thermal, Ultrasonic), Type (Touch, Swipe), Application (Consumer Electronics, Banking & Finance, Government & Law Enforcement, Commercial, Smart Homes), and Region-Global Forecast to 2024", is projected to grow from USD 3.5 billion in 2019 to USD 7.1 billion by 2024; it is expected to record a compound annual growth rate (CAGR) of 15.3%.
The emergence of biometric smart cards in BFSI applications and the newest trend of in-display fingerprint sensors in smartphones provide an opportunity for market growth.Browse 107 market data Tables and 45 Figures spread through 173 Pages and in-depth TOC on "Fingerprint Sensor Market -Global Forecast to 2024" Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=169519533 Capacitive technology to lead the fingerprint sensor market during the forecast period (2019–2024)Capacitive technology is expected to hold the largest share of the fingerprint sensor market.
This is mainly because of the increasing use of capacitive sensors in devices such as smartphones, laptops, and other consumer electronics devices.
Apart from consumer electronics, capacitive sensors are also being used in new applications such as door locks and start engine operations in automobiles.
Increased security & privacy concerns in laptops, along with the efforts by OEMs to offer wearables with dynamic security features are some of the major factors affecting the growth of the market.
Goodix, Egis Technology, Q Technology, and CrucialTec are among the major players of the fingerprint sensor market in APAC.Shenzhen Goodix Technology Co., Ltd. (China), Fingerprint Cards AB (Sweden), Synaptics Incorporated (US), Apple Inc. (US), Egis Technology Inc. (Taiwan), CrucialTec (South Korea), NEXT Biometrics Group ASA (Norway), Novatek Microelectronics Corp. (Taiwan), Q Technology (Group) Company Limited (China), Qualcomm Technologies, Inc. (US), IDEX Biometrics ASA (Norway), CMOS Sensor Inc. (US), ELAN Microelectronics Corporation (Taiwan), FocalTech (China), id3 Technologies (France), IDEX Biometrics (Norway), Japan Display Inc. (Japan), OXi Technology (China), Sonavation Inc. (US), Touch Biometrix (UK), and Vkansee (US) are among a few major players in the fingerprint sensor market.
