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Fingerprint Sensors Market Outlook By Share, Demand Status Of Type, Applications And Future Forecast

The banking, financial services, and insurance (BFSI) industry is widely making use of biometric cards, which is opening up wide opportunities for the companies operating in the domain. The rising penetration of connected devices and internet and the increasing risk of thefts and frauds in the BFSI industry is rising, thereby leading to the growing need for mitigating security related threats. Payment cards equipped with fingerprint-reading technology are further more secure and faster than traditional payment cards. 


Cards that are integrated with such sensors offer more security than the standard four-digit pin and authenticates users’ identity in less than one second. The fingerprint sensor market generated a revenue of $3.8 billion in 2019 and is projected to progress at a 13.6% CAGR during the forecast period (2020–2030). On the basis of type, the market is divided into swipe sensors and area/touch sensors, between which, the area/touch sensors division is expected to generate the larger revenue in 2030. 

This is due to the better sensing ability of these sensors, thereby leading to their high adoption in the consumer electronics industry. When technology is taken into consideration, the market is categorized into ultrasonic, capacitive, optical, and thermal, among which, the capacitive category held the largest share of the market in the past. This is owing to the fact that this technology is more cost-effective than others, easier to use, and offers better security. 


Geographically, the Asia-Pacific region has been dominating the fingerprint sensors market up till now, according to a study conducted by P&S Intelligence. This is primarily due to the rising requirement for such instruments by Chinese, Indonesian, and Indian governments for verification purposes. Along with this, the disposable income and the population in the country is rising rapidly, resulting in the growing demand for smartphones. 

Hence, the demand for fingerprint sensors is growing due to the increasing need for mitigating security risks and rising utilization of smartphones.

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