“MarketsandMarkets highlights the efforts of NEXT Biometrics, Fingerprint Cards, and IDEX in pioneering these technologies.”
While a number of fingerprint sensor specialists have come under intense market pressure over the past year due to shrinking margins in the mobile sector, the overall fingerprint sensor market will continue its upward trajectory over the next several years, with capacitive sensors leading the charge, according to a new report from MarketsandMarkets.
The report predicts that the market will grow from $4.25 billion this year to $8.8 billion by 2023, reflecting a CAGR of 15.66 percent. In a report summary, MarketsandMarkets says that capacitive fingerprint sensors will “hold the largest share of the fingerprint sensor market based on technology, in terms of value, by 2023,” driven by the sensors’ increasing use in consumer electronics like smartphones and laptops.
The emergence of biometric payment cards will also play a significant role, with the report predicting that it will have the highest CAGR over the forecast period. MarketsandMarkets highlights the efforts of NEXT Biometrics, Fingerprint Cards, and IDEX in pioneering these technologies.
As for regional markets, the APAC region is expected to see the highest rate of growth over the forecast period, with the report suggesting that rising consumer demand for fingerprint scanning devices is the salient factor. Key players here, according to MarketsandMarkets, include the aforementioned Scandinavians pioneering biometric smart cards, and also Gemalto, Anviz Global, Egis Technology, IDEMIA, Goodix, Synaptics, and Apple.