Fingerprint Module Market Qualitative Analysis Reveals Explosive Growth by 2026
Global Fingerprint Module Marketis expected to reach US$ 26.0 Bn by 2026 from US$ 9.0 in 2017 at CAGR of 14.18%.
Global Fingerprint Module market is segmented by product type, sensor type, end user and region. Product Type market is divided into fingerprint reader, fingerprint scanner. Sensor type splits into off-chip, on-chip. End user are classified as banks, government organization, telecommunication firms, hospitals, IT industry. Region-wise divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Global Fingerprint Module Market
The driving factor for the global fingerprint market is its functionalities that is accurate and reliable recognition, increased level of security, and reduced vulnerability. The global fingerprint market is also deployed for employee time management system as of its capability to identify people’s unique biological features. It offers a fast, efficient and secure solution for employee’s time and attendance solution.
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Fingerprint market expected to drive the market during the forecast period. The swift growth to fingerprint module market worldwide is owing to increased hacking cases which result in the growth of new technically advanced security product across various industries. Fingerprint module market does not study changes in person’s finger over a time. Such as, in a manufacturing industry, since employees are working with their hands mostly, their fingers may get rough or spoiled, fingerprint module is not able to capture it. However, for the use of a fingerprint module, it requires computer hardware and software programs.
Based on the end user, fingerprint sensor market for the banking and finance application is expected to grow at the highest CAGR between 2018 and 2026. The growth of the fingerprint sensor market for this application is attributed to the use of biometric smart cards in backs and finance-related organizations. Upcoming future, many companies are expected to play a major role in the market for smart cards, which can be used as payment cards.
On the based on product type, fingerprint scanner are widely used for security purpose. Fingerprint scanners are security systems of biometrics. They are used for unlock doors and in other security applications. Through 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 as of its unique. And every fingerprint is different from any other in the world. Because there are countless combinations, fingerprints are more used for identification.
In terms of region, North America is the major region for the fingerprint module market owing to the increasing adoption of the fingerprint modules among organizations for identification and security. Moreover, North America is one of the most technologically advanced and new regions and has the presence of major players in the fingerprint module market with high demand for the same. Major Biometrics has developed Smart Card which is being used as North America’s primary payment and identification card. The smart card is embedded with a smart chip and fingerprint sensor for extreme security and durability in financial transactions. Initiatives like this have assisted North America to attain the largest market share in the fingerprint module market.
Key players operating on the market, Secugen Corporation, Integrated Biometrics, Llc, Hid Global Corporation/Assa Abloy Ab, Nitgen Co., Ltd., Suprema, Crossmatch, Shenzhen Yaloite Biometrics Technology Co., Ltd., Fingerprint Cards Ab, Sparkfun Electronics, Silk Id Systems, Anviz Global, Bioenable Technologies Pvt. Ltd., Firich Enterprises Co, Ltd, Next Biometrics Group Asa And Idex Asa.
Scope of the Global Fingerprint Module Market Report
Global Fingerprint Module Market, by Product type
• Fingerprint reader
• Fingerprint scanner
Global Fingerprint Module Market, by Sensor type
Global Fingerprint Module Market, by End user
• Government organization
• Telecommunication firms
• IT industry
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Global Fingerprint Module Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Key players operating on the Global Fingerprint Module Market
• Secugen Corporation
• Integrated Biometrics, Llc
• Hid Global Corporation/Assa Abloy Ab
• Nitgen Co., Ltd.
• Shenzhen Yaloite Biometrics Technology Co., Ltd.
• Fingerprint Cards Ab
• Sparkfun Electronics
• Silk Id Systems
• Anviz Global
• Bioenable Technologies Pvt. Ltd.
• Firich Enterprises Co, Ltd.
• Next Biometrics Group Asa
• Idex Asa.
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