Fingerprint Sensor Market : Industry Trends and Technology Update , Market Size , Global Forecast to 2024

The fingerprint sensor market size is projected to grow from USD 3.5 billion in 2019 to USD 7.1 billion by 2024; it is expected to grow at a compound annual growth rate (CAGR) of 15.3%. Extensive use of fingerprint sensors in consumer devices for biometric authentication, high adoption of biometrics by government bodies for enhanced security, and digitization in the time & attendance capturing are some of the driving factors of the industry.

Optical fingerprint sensor technology likely to grow at the highest CAGR during the forecast period

In-display fingerprint sensors are in demand by numerous smartphone brands, which is expected to provide opportunities for the optical fingerprint sensor market growth. An optical in-display fingerprint sensor uses an optical fingerprint sensor to capture the fingerprint data and is embedded under the phone’s screen. Goodix, Fingerprints, Synaptics, CrucialTec, and Q Technology are among the companies that offer optical fingerprint sensors.

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Touch sensors  to account for the largest market share during the forecast period

Touch sensors are sensitive than a button or other manual control. These sensors are used mainly in consumer devices such as smartphones and tablets. They are becoming increasingly smaller, more cost-effective, and convenient for use. OEMs prefer touch sensors over swipe sensors, particularly in mobile devices that demand smaller sensors, to produce miniaturized products preferred by end-users in the market. This contributes to a higher market share of touch sensors in the fingerprint sensor market.

APAC to account the largest share of the fingerprint sensor market during the forecast period

Factors such as presence of leading smartphone OEMs such as Samsung, Oppo, Vivo, and Xiaomi in China; rising adoption of biometrics systems in retail and enterprises; need to reduce incidents of fraud and provide secure access to physical & logical assets in commercial applications; increased awareness of the benefits of using fingerprint sensing technology among the masses, and cost-effectiveness of these sensors drives the growth of market in APAC. Goodix, Egis Technology, Q Technology, and CrucialTec are among the major players of the fingerprint sensor market in APAC.

Key Market Players

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 some major players in the fingerprint sensor market.

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