PUBLISHER: Orion Market Research | PRODUCT CODE: 1123186
PUBLISHER: Orion Market Research | PRODUCT CODE: 1123186
Global Fingerprint Scanner Market Size, Share & Trends Analysis Report By Sensor Type (Optical Reader, Capacitive Reader, Ultrasonic Reader, And Others) By Matching Software (Minutiae Matching, And Pattern Matching) By End-User (Government, Retail, and others) Forecast, 2021-2027
The global market for fingerprint scanners is projected to have a considerable CAGR of around 11.2% during the forecast period. The fingerprint scanner is a cost-effective biometric device that is widely used for the authentication and authorization of a person at different places. The device scans the fingerprint and matches it with the database to provide the access to the user. The increase in fingerprint scanners in consumer devices and applications for biometric authentication, rising treads for safe and secure online transactions, increasing application of scanners in smart devices are the major factors propelling the growth of the fingerprint scanner market. The adoption of biometrics in government bodies due to growing concern regarding the security and safety of data across the globe is paving way for such devices. Additionally, various end-user industries such as defense, banking & finance, IT, healthcare are also adopting these devices on large scale for the protection of their data, which is accelerating the market growth.
Growing government funding, and initiatives by market players bringing new smart fingerprint scanners to market also boosting the market growth. For instance, in April 2021, BIO-key International, Inc., has launched two new (Pocket 10) biometric fingerprint scanners for enhanced authentication security. On the other hand, in March 2020, Secureye had launched S-FB4k, a biometric security device, capable of both face and fingerprint biometric authentication. However, the high cost associated with biometric technologies, security concerns with biometric databases, and slow adoption and implementation of these devices in some economies are some of the restraining factors in the growth of the market. The new developments and advancements in fingerprint technologies (such as IoT-based biometric) are expected to create lucrative opportunities in the global fingerprint scanner market during the forecast period.
COVID-19 Impact on global Fingerprint Scanner Market
The global fingerprint scanner market is hardly hit by the impact of COVID-19. During the COVID-19 outbreak, due to stringent government regulations, the lockdown was announced in the world. In light of the global outbreak of COVID-19, many government authorities have restricted the use of fingerprint biometric to curb the spreading of coronavirus, due to which the market decline was registered. Due to the disruption in the supply chain, halt in production units, and transportation, there has been declination is witnessed in the global fingerprint scanner market.
Segmental Outlook
The global fingerprint scanner market is segmented based on sensor type, matching software, and end-user. Based on sensor type, the market is sub-segmented into the optical reader, capacitive reader, ultrasonic reader, thermal reader, and others (pressure, infrared). Among these, the ultrasonic reader segment is expected to be the fastest growing during the forecast period. Ultrasonic readers scanners are a little easier to implement and adjust their placement to suit any handset. The adoption of these latest technologies into various end-users is expected to increase its demand in upcoming years. Further, based on matching software, the market is bifurcated into minutiae matching, and pattern matching. Similarly, by end-user, the market is categorized as healthcare, defense, banking & finance, government, retail, information and telecommunication technology, education, manufacturing, and others.
Global Fingerprint Scanner Market Share by End-Users, 2020 (%)
Global Fingerprint Scanner Market Share by End-Users
The Government Sectors are likely to boost the fingerprint scanner growth
The use of fingerprint scanner systems in the government sector is witnessed to grow more during the forecast period. The use of fingerprint scanners as a biometric system plays a crucial role in government regulation. Government agencies throughout the world use them in a wide range of security-related activities from law enforcement to border management, national defense, human resources, enterprise security, healthcare, and more. Biometrics may not be new, but they are entering a new era of utility among government agencies, and beyond. The adoption of such type of biometric systems in government sectors is expected to increase their sales and demands during the forecast period.
Regional Outlook
Geographically, the global fingerprint scanner market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Among these, North America is projected to show considerable growth during the forecast period. The developments in infrastructures and rapid adoption of digital trends in the region are the factors driving the growth of the market. The US is the major market in North America owing to the high adoption of fingerprint identification service in a variety of domains such as passport verification, visas and so on in the region.
Global Fingerprint Scanner Market Growth, by Region 2021-2027
Global Fingerprint Scanner Market Growth, by Region
Asia-Pacific Holds the Largest Market Share in Global Fingerprint Scanner Systems Market
Geographically, the Asia-Pacific held the major market share in 2020, and it is projected to grow more during the forecast period. The investment in smart city projects, rising government funding for the adoption of such systems, and the presence of major market players are the factors propelling the growth of the market. The adoption of fingerprint biometric systems in various verticals such as retail & enterprises, commercial applications, healthcare, and IT sectors are gaining popularity due to which the demand for such systems is increasing, thus positively affecting the market. Besides, the demands for consumer applications such as smartphones, and watches coupled with fingerprint scanners are growing, which is the major factor increasing the sales of these systems. Thus, accelerating the market growth.
Market Players Outlook
The key players in the global fingerprint scanner system market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market are Qualcomm Technologies, Inc., HID Global Corp, Integrated Biometrics, BIO-key International, Egis Technology Inc., Fingerprint Cards AB, IDEX Biometrics, SecuGen Corp., Next Biometrics, among others. These market players adopt different marketing strategies such as mergers & acquisitions, R&D, product launches, and geographical expansions to generated more revenue and to remain competitive in the market. For instance, in March 2019, NEXT Biometrics announced that it has signed an agreement with Taiwan-based WizCard on the development of biometric smart card solutions.
The Report Covers
Market value data analysis of 2020 and forecast to 2027.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global fingerprint scanner market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.