The Global Market for Silicon-Based Fingerprint Sensors is Projected to Reach US$377.3 Million by 2024
Technological Advancements
and Fingerprint Recognition Implementation in Range of Devices Drive the Silicon-Based
Fingerprint Sensors Market, According to a New Report by Global Industry Analysts,
Inc.
GIA launches comprehensive analysis of
industry segments, trends, growth drivers, market share, size and demand
forecasts on the global Silicon-Based Fingerprint Sensors market. The global market for Silicon-Based Fingerprint
Sensors is projected to reach US$377.3 million
by 2024, driven by technological advancements, and its growing
importance in notebooks applications, biometric and IoT applications, wireless
devices, and physical access control implementations.
Fingerprint
Biometrics is one of the oldest and widely used technologies that uses fingerprint
pattern of ridges, lines, and valleys, which are unique to each individual and
do not naturally alter with time. As a basis of identification, fingerprint
identification comes as the most reliable among biometric identification
technologies. As an element that can sense and capture
fingerprint patterns, sensors have been playing an important role in the
functioning of Fingerprint Identification System (FIS) used for identifying
individuals in wide range of application areas. Benefits offered by the FIS technology have supported in its widespread
application in mobile and wireless devices and notebooks, among several others.
Factors spurring the use of fingerprint sensors in mobile devices include
falling prices of sensors and broader software support for the same. The chip’s
lightweight and easy installation benefits are increasing its popularity in
various application areas. While these sensors are proving to be beneficial in
e-commerce, they are also being used for network access, asset protection, and
physical access control, among others. For improving the security level and
convenience for customers, producers are expected to engage in further
technological developments.
The world market for silicon-based
fingerprint sensors is on a strong growth path, thanks to increasing emergence
of stringent governmental regulations relating to authentication and security
access in government offices, buildings, and premises. Growing preference for
smaller, sleeker, and light weight notebooks and wireless devices is also favoring
growth in the market, given the fact that silicon-based fingerprint sensors are
extremely compact in size, low in cost, and have minimal power requirements. Swipe sensors continue to
dominate the silicon-based fingerprint sensors market driven by growing
integration in smaller and more power-hungry consumer
electronics
and computing devices due to their smaller form factor and easy-to-replace
feature. Swipe sensors, which are inexpensive and small when compared to touch
sensors, are increasingly being used in laptops and notebooks in addition to a
range of smartphones and tablets.
Growing security concerns, favorable
government rules, increasing application areas, product introductions, and
technological advancements constitute the key factors driving growth of the
market. However, the market is expected to be adversely impacted by issues
related to fingerprint capturing and forgery of fingerprint, in addition to
high manufacturing and transportation and storage costs.
As
stated by the new market research report on Silicon-Based Fingerprint
Sensors,
Asia-Pacific represents the largest market worldwide. The region is also
forecast to emerge as the fastest growing market with a CAGR of 10.8% over the
analysis period, driven by regulations of law enforcement and security agencies,
and steady demand for sensors for consumer electronics, automobiles and
industrial sector. Swipe Sensors represents the largest and
the fastest growing product market in terms of revenue. Notebook applications are
forecast to generate significant revenues accounting for a majority share of
global market value. Wireless devices market, including smartphones and tablet
PCs, ranks as the fastest growing end-use market with revenue from the segment
waxing at a CAGR of 9.9% over the analysis period.
Major
players in the market include Egis Technology Inc. , Fingerprint Cards AB,
FUJITSU, Hangzhou Synochip Data Security Technology Co., Ltd., IDEX ASA,
Jiangsu Winch Corp., Ltd., Microchip Technology, Inc., NEXT Biometrics Group
ASA , and Synaptics Inc., among others.
The research report titled “Silicon-based
Fingerprint Sensors: A Global Strategic Business Report” announced by
Global Industry Analysts Inc., provides a comprehensive review of market
trends, growth drivers, product innovations and strategic industry activities
of major companies worldwide. The report provides market estimates and
projections for sales of Silicon-based Fingerprint Sensors in US$ Thousand at the
Manufacturer’s levels for all major geographic markets - US, Canada, Japan,
Europe (France, Germany, UK, and Rest of Europe), Asia-Pacific, Middle East
& Africa, and Latin America. The market for Silicon-based Fingerprint
Sensors is also analyzed by type – Swipe and Area; and by end-use segment –
Notebooks, Physical Access Control, and Wireless Devices. The report also
provides global volume analytics (in thousand units) for Silicon-based
Fingerprint Sensors by type – Swipe and Area.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
To
connect with us, visit our LinkedIn page.
Comments
Post a Comment