Fingerprint Sensor Market Size, Share, Industry Analysis, Top Companies from 2024 to 2029

Fingerprint sensors have revolutionized security by providing a highly accurate and convenient method of authentication. Unlike traditional passwords or PINs, fingerprints are unique to each individual, making them an ideal solution for secure access control. This technology is being integrated into a wide array of applications, from unlocking smartphones and laptops to securing financial transactions and managing access to physical spaces.

The fingerprint sensor market is projected to grow from USD 4.2 billion in 2024 and is expected to reach USD 5.9 billion by 2029, growing at a CAGR of 7.0% from 2024 to 2029. The rise in number of identity threats is one of the key factors leading to emergence of fingerprint technologies. Identity theft refers to the illegal acquisition of an individual's personal or financial details to perpetrate fraud, including unauthorized transactions. It occurs through various methods and inflicts harm on victims' credit, finances, and reputation.

The integration of fingerprint sensors into consumer electronics has been a game-changer, enhancing both security and user experience. For example, the inclusion of fingerprint sensors in smartphones and tablets allows users to unlock their devices quickly and securely without needing to remember complex passwords. This convenience, combined with the high level of security provided by biometric authentication, is driving widespread adoption.

The global fingerprint sensor market is expanding rapidly, fueled by the growing adoption of biometric systems in consumer electronics, banking, and government applications. As the demand for secure and convenient authentication solutions increases, fingerprint sensors are being integrated into smartphones, laptops, security systems, and payment terminals. The market is characterized by technological innovation, with ongoing developments aimed at improving accuracy, speed, and user experience. 

Technological Advancements Driving Market Growth

Several technological advancements are shaping the fingerprint sensor market:

Capacitive Fingerprint Sensors: Capacitive fingerprint sensors are widely used due to their high accuracy and durability. They work by measuring the capacitance differences between the ridges and valleys of a fingerprint. Recent innovations have enhanced their sensitivity and speed, making them a preferred choice for high-security applications.

Optical Fingerprint Sensors: Optical sensors use light to capture fingerprint images and are known for their high-resolution imaging capabilities. Advances in optical fingerprint sensing technology are improving image quality and reducing the size of sensors, making them suitable for integration into various devices, including smartphones and smartwatches.

Ultrasonic Fingerprint Sensors: Ultrasonic fingerprint sensors use sound waves to capture detailed 3D images of fingerprints, offering enhanced accuracy and performance. These sensors are particularly effective in challenging conditions, such as wet or dry fingers, and are gaining traction in high-security environments.

Under-Display Fingerprint Sensors: The integration of fingerprint sensors under smartphone displays is a major innovation in the market. This technology allows users to unlock their devices without needing a separate fingerprint sensor, enhancing both convenience and aesthetics. As this technology matures, it is expected to become more widespread across various consumer electronics. 

Download PDF Brochure @

 https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=169519533

Key Drivers of Market Growth

Several factors are driving the growth of the fingerprint sensor market:

Increased Demand for Biometric Authentication: As concerns about cybersecurity and identity theft rise, there is a growing demand for biometric authentication methods that offer enhanced security and convenience. Fingerprint sensors provide a reliable solution for secure access control and are increasingly being adopted in consumer electronics, financial services, and public security.

Rising Adoption in Smartphones and Consumer Electronics: The integration of fingerprint sensors in smartphones, tablets, and wearables is a major driver of market growth. As manufacturers continue to enhance the functionality and integration of fingerprint sensors, their adoption in consumer electronics is expected to increase further.

Growth in Financial and Banking Applications: The financial sector is increasingly adopting fingerprint sensors for secure transactions and access control. Fingerprint authentication provides an additional layer of security for banking apps and payment systems, driving demand in this sector.

Government Initiatives and Security Upgrades: Government agencies and organizations are implementing biometric systems to enhance security and streamline identification processes. The adoption of fingerprint sensors for border control, law enforcement, and access management is contributing to market growth. 

North America is driven by the increasing adoption of biometric authentication across various sectors, particularly consumer electronics, government, and commercial domains.

The US Department of Homeland Security (DHS) has been actively promoting the use of biometric technologies, including fingerprint sensors, for enhancing border security and immigration processes. The DHS's Biometric Entry-Exit Program has facilitated the deployment of fingerprint scanners at various ports of entry, contributing to the market's growth in the region. According to November 2023 statistics by US Department of Homeland Security (DHS), 1,018,349 persons obtained lawful permanent resident status in year 2022 compared to 740,002 persons in 2021, which is 37.6% y-o-y increase.

Key Players

Leading players in the fingerprint sensor market include Shenzhen Goodix Technology Co., Ltd. (China), Fingerprints (Sweden), Synaptics Incorporated (US), Apple Inc. (US), Egis Technology Inc (Taiwan). CrucialTec (South Korea), NEXT Biometrics (Norway), Novatek Microelectronics Corp. (Taiwan), Qualcomm Technologies, Inc. (US), Q Technology (China), Vicharak (India), Invixium (Canada), M2SYS Technology (US), Parallax Inc. (US), Mantra Softech India Pvt Ltd. (India), CMOS Sensor Inc. (US), ELAN Microelectronics Corp. (Taiwan), FocalTech Systems Co., Ltd. (China), ID3 Technologies (France), IDEX Biometrics (Norway), Japan Display Inc. (Japan), QXi Technology (China), Sonavation Inc. (US), Touch Biometrix (UK), VKANSEE (US), are few other key companies operating in the fingerprint sensor market.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Contact:

Mr. Rohan Salgarkar

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441