PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1226982
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1226982
According to SPER Market Research, the Global Fingerprint Sensor Market is estimated to reach USD 11.19 billion by 2032 with a CAGR of 11.14%.
In order to provide users access to a device or information or to authorise transactions, a fingerprint sensor is an electronic security system that employs fingerprints for biometric authentication. The demand for fingerprint sensors is growing as a result of the fingerprint being one of the most popular types of biometrics utilised in several devices and application domains. One important factor driving the expansion of fingerprint sensors is the rising popularity of smartphones with fingerprint sensors. In line with that, it is anticipated that over the next several years, more people will own intelligent gadgets, such as tablets, laptops, smartphones, and smart wearables, which are increasingly equipped with fingerprint sensors. Systems for facial recognition are increasingly prevalent in a wide range of gadgets. Major smartphone manufacturers like Apple, Samsung, and OnePlus, for example, already use this user authentication. The market for fingerprint sensors may experience slower growth as a result of the increased use of replacement technology.
The latest COVID-19 outbreak has proven to be a curse for the industry. Due to the coronavirus pandemic, commercial activity has been suspended, and there have been interruptions to international supply chains, border restrictions, and travel bans by government agencies as a result of the epidemic. Due to the strict controls implemented to limit commercial operations, the market's growth pace slowed down. The production of smartphones was suspended for more than 30 days as a result of the shutdown, which affected major smartphone manufacturers like Samsung, Oppo, Vivo, and Xiaomi. However, if strict government regulations about driving are relaxed globally, the sector is anticipated to experience a rise.