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(Hosting-NewsWire.com, March 27, 2020 ) Market Overview
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• The Global Fingerprint Sensor Market is expected to grow at a high CAGR during the forecasting period (2019-2026).
• Fingerprint scanners are security systems of biometrics. They are used to unlock doors and in other security applications. During the 2010s fingerprint scanners became commonplace on mobile phones. People have a pattern of ridges on their fingers. This fingerprint cannot be removed or changed. Every fingerprint is different from any other in the world. Because there are countless combinations, fingerprints are much used for identification. The success and accuracy of fingerprint technology led to the exploration of other biometric modalities where an individual’s unique physical characteristics could serve as valuable identifiers in varying use cases.
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• Government initiatives to adopt biometrics in different industries and rising usage of fingerprint sensors for electronic gadgets are the major driving factors for the market growth worldwide. Fingerprint biometrics are used for access to security-restricted buildings and are an accurate digital identification solution for various government applications such as passports, voter registration, national identification cards, and border control. Biometrics have also been used in the government sector for many years, with fingerprint recognition being the first practical adoption of the technology. For instance, In India, Governments' latest projects of biometric were Aadhar, a national ID project which was recorded with fingerprint and iris recognition.
• Law enforcement has started fingerprinting criminals, recording them on paper cards which were stored in filing cabinets and warehouse repositories. At present, advancements in technologies allowing police department to willingly fingerprint a suspect using a biometrics app downloaded.
• However, issues with security concerns are the key restraining factor for the growth of the market.
• By technology, the fingerprint sensor market is segmented into thermal, capacitive, ultrasonic and optical. By type, the fingerprint sensor market is classified into area and touch sensors and swipe sensors. The global touch fingerprint sensor market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• By end user industries, the fingerprint sensor market is divided into BFSI, military & defense, consumer electronics, government, healthcare and travel & immigration. Healthcare segment is one of the fastest growing segment in the forecast period. Hospitals are in the process of transforming themselves by digitizing patient records to provide quick, safe, enhanced and cost-effective care. Healthcare management applications are moving to biometric iris recognition technology to create accurate patient identification and identify proper insurance status in order to prevent fraud and duplicate medical records. The global fingerprint sensor market size for healthcare industry was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period
• Biometrics Healthcare allows users to access applications and patient data quickly - clinicians simply touch a fingerprint scanner and get instant access to the records they need on any workstation. Companies are focusing to launch devices that related to the healthcare industry. For instance, Imprivata delivers leading Biometrics Healthcare authentication management. OneSign FastPass™ for Finger Biometrics allows users to quickly and securely log on to different workstations simply by touching their fingers to a scanner.
• The Asia Pacific fingerprint sensor market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Asia Pacific is expected to grow with a high CAGR rate in the forecast period owing to the increase in the usage of various applications like government, electronics, healthcare and many more. India and China are estimated to hold the major market shares in the estimated period. Companies are concentrating to extend their market presence worldwide. For instance, in November 2018, NEXT Biometrics, a global leader in fingerprint sensor technology, announced the company has received an order for its fingerprint sensor modules from China-based Telpo (Telepower Communication Co. Ltd.). Telpo is a new customer and will incorporate the NEXT fingerprint module into point-of-sale (POS) terminals for the Indian market where Telpo is expanding its presence.
• The Fingerprint Sensor market is highly competitive with existing in the market.
• Some of the major players include Fingerprint Cards AB, IDEMIA France SAS, Suprema, Inc., CrossMatch Technologies, Inc., Goodix Ltd., Safran Identity & Security (Morpho), Egis Technology, Inc., Synaptics, Inc., Idex ASA and Gemalto NV.
• The key players are adopting various key strategies such as product launches, and, collaborations which are contributing to the growth of the fingerprint sensor market.
• In July 2019, Apple has announced that they are about to launch a new iPhone for the budget-conscious in the Chinese market that features an under-display fingerprint sensor instead of expensive Face ID technology.
• In September 2017, World-leading biometrics company Fingerprints' touch sensor FPC1028 is integrated into Huawei's recently launched smartphone Maimang 6. This is the first product launch with the FPC1028, the most cost-efficient and high performing touch sensor on the market.
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