Fingerprint Sensors Market is Set to Experience a Significant Growth of 18.2% CAGR from 2022 To 2031

The fingerprint sensors market was valued at USD 3.12 billion in 2022 and is expected to reach USD 8.51 billion by 2031, at a CAGR of 18.2% over the forecast period . The fingerprint sensors market has expanded rapidly over the past few years, and it is projected to increase even further during the forecast period. Increased adoption of smartphones, increasing security applications, and government initiatives to adopt biometrics tend to be the key factors driving the demand for fingerprint sensors globally.

– Fingerprint scanners are increasingly becoming a part of the authentication process, and various enterprises and organizations are forming their security levels around this technology. Recently, the USB fingerprint scanner from eWBM became the first FIDO-Level-2-certified biometric authenticator. Different devices form a part of the authentication level, such as smartphones, smart wearables, and others.
– Moreover, technological developments in the market are expected to be moving from consumer market applications to the industrial market, and the applications are expected to increase exponentially in the industrial space during the forecast period. The use of fingerprint in smart home security is another potential growth market. Security concerns associated with personal data leak and safety concerns over biometrics are challenging the market’s growth.
– Banks around the world are set to launch biometric-enabled payment cards commercially. In 2019, Fingerprints Card AB worked with leading card manufacturers and banks on trials across Europe, the United States, the Middle East, and Asia. The biometric sensor has the opportunity to replace the standard PIN and signature authentication with a fingerprint that delivers better security without affecting the speed and convenience of contactless and will also enhance the user experience as the cap can be removed and hence contactless can be used for all transactions.

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Key Market Trends

Applications in Smartphones is expected to Hold a Major Share

– The present-day fingerprint scanner revolution started from the time iPhone 5s, which was launched at the end of 2013 with a TouchID feature. Very soon, other smartphone manufacturers such as Samsung, Sony, LG started incorporating fingerprint sensors for mainstream smartphones after which fingerprint sensors became an essential part of every smartphone.
– The fingerprint sensors in the smartphone are mounted on different locations. Major mounting locations include – front, rear, and even side-mounted fingerprint sensors, which are known as capacitive sensors. With the increasing trend of reducing the bezel sizes of the smartphone and the growing adoption of OLED panels, various companies saw this as an opportunity to develop an in-display optical finger sensor. As a result, the first in-display fingerprint smartphone was presented at CES 2018, which was made possible through a collaboration between Vivo and Synaptics.
– The optical in-display fingerprint displays became popular among various smartphone vendors. By the end of 2019 sevral companies started to incorporate them in their smartphone models. Some models such as the OnePlus 7 Pro even managed to optomize the performance of the in-display fingerprint technology by achieving impressive unlock speeds of 0.2 seconds.
– The trend of optical in-display fingerprint sensors gained massive traction in the market; however, users had a concern regarding security issues. In 2019, the Samsung S10 series opted for another technology called Ultrasonic fingerprint sensors by using Qualcomm’s 3D Sonic sensor that sends ultrasonic pules to detect the 3D ridges and valleys of the unique fingerprint to quickly and accurately recognize the user. Apple did not incorporate any fingerprint sensors in its smartphones launched in 2018, and 2019 went with Face ID instead.
– However, a lot of users raised complaints on the Samsung S10’s fingerprint sensors for unlocking the smartphone even without the registered finger due to which Qualcomm announced their next generation of Ultrasonic fingerprint sensors in December 2019. In-display fingerprint sensors are commonplace on flagship phones and some mid-range devices, but they require an OLED screen that is not present in budget range phones that constitute significant smartphone market share. Goodix has previously confirmed plans to bring the technology to LCD screens in 2020, and in March 2020, Redmi has demonstrated an LCD smartphone with an in-display fingerprint sensor.

Asia-Pacific to Witness Highest Growth

– The increasing usage of biometric devices in various organizations and the growth in the usage of wearable devices and growing security and safety concerns are anticipated to drive the fingerprint sensors market in the Asia-Pacific region with a significant growth rate over the forecast period. The increasing mobile transactions in countries such as India and China are also expected to be one of the significant drivers for the mobile biometrics market in the region.
– China is witnessing a high mobile volume of smartphone shipments is also expected to drive the fingerprint sensor market in the region with almost all of the recent smartphones that are incorporating them be it capacitive or optical. In 2019, China’s smartphone shipments were valued at 369 million units, whereas distribution channels started to clear 4G inventory in anticipation of 5G uptake in the new year. With the wider rollout of 5G and more incentives given by operators this year, 5G smartphones are expected to exceed 150 million units in 2020. Huawei alone shipped 33 million smartphone units in the last quarter of 2019.

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