According to a new market research report “Fingerprint Sensors Market by Type (Swipe &Area), Technology, Material (Optical Prism, Piezoelectric, Capacitive & Adhesives), Application (Mobile, Government, Healthcare, Commercial Security & Others) & Geography - Global Forecast to 2014 - 2020”, the said market is expected to reach $14,500.07 Million by 2020, at a CAGR of 17.1%.
Browse 77 market tables and 102 figures spread through 190 pages and an in-depth TOC on “Fingerprint Sensors Market - Global Forecast to 2014 - 2020”
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The fingerprint sensors market has been witnessing significant growth, since the past few years. This is mainly attributed to the growing need for secure & simplified user access for devices and rapid technological enhancements in various biometrics technologies. Various industry verticals such as banking & finance, healthcare, and military among others are expected to provide potential growth opportunities for the said market. However, the lack of awareness among users regarding the security constraints and concerns regarding integrating fingerprint sensors into smartphones are some of the factors which are limiting the growth of this market.
Fingerprint sensing technology has been considered to be one of the most reliable & cost effective biometrics technologies. Currently, the demand for fingerprint sensors is expected to register a rapid growth which would be majorly driven by its application in mobile applications, government, defense & military, banking & finance, travel & migration, criminal identification, healthcare, smart homes, and commercial security. Additionally, fingerprint sensors are of better quality, cheaper, and more reliable compared to other biometrics technologies. Thus, the said market is expecting to witness double digit growth rate in the coming five years.
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The fingerprint sensors market was valued at $5.5 Billion in 2014 and is projected to grow till $14.5 Billion by 2020. This market is expected to grow at a CAGR of 17.1% between 2015 and 2020. Additionally, in terms of shipments, the fingerprint sensors market is projected to reach ~10 Billion till 2020, at a double digit CAGR between 2015 and 2020. The rapid growth in the market size is due to the successful application of fingerprint sensors in smartphones, tablets, and other electronics consumer goods.
The fingerprint sensors market report describes the market trends, drivers, and challenges with respect to the fingerprint sensors and forecasts the market till 2020, based on type, material, technology, application, and geography. It provides a bird’s eye-view of the market across various regions such as North America, Europe, APAC, and RoW. North America is the largest market for fingerprint sensors and is expected to hold a major market share in 2014, with the U.S. occupying the largest market share. However, the growth rate of the North American market is expected to decline by 2020, with APAC expected to lead the said market. The market for fingerprint sensors in APAC is expected to grow at the highest CAGR of 23.6% between 2015 and 2020.
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The competitive landscape of the market presents valuable insights about various players in the fingerprint sensors market. The fingerprint sensors market report profiles the 10 promising players in the market and further explains their business overview, product portfolio, recent developments, and key strategies. The market is witnessing new product developments and agreements, partnerships, contracts, & collaborations across the value chain between companies.
The major players in the fingerprint sensors market include Fingerprint Cards AB (Sweden), Morpho (France), Synaptics Inc. (U.S.), 3M Cogent, Inc. (U.S.), IDEX ASA (Norway), Bio-Key International, Inc. (U.S.), Crossmatch (U.S.), ekey biometric systems (Slovenia), BioEnable Technologies Pvt. Ltd. (India), Next Biometrics Group ASA (Norway), and DERMALOG Identification Systems GmbH (Germany).
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