The fingerprint scanner market's value is set to double over the next 5 years
Fingerprint readers have become an increasingly comforting and commonplace feature on our smartphones, laptops and other devices. They come in a range of forms and types, such as hardware-based (or capacitive); optical; ultrasonic (the basis for most newer, in-display modules out there) and thermal scanners.
Many consumers have come to think of most of these as yet another must-have feature, although they are also commonly in use in businesses, smart homes, the financial industry, government facilities and policing systems. These applications have built a market estimated at a value of US$3.5 billion in 2019.
The same market is thought to be capable of steady expansion until it hits a new figure of about $7.1 billion 5 years from now. This means it could grow at an annual compound rate of 15.3%. The use of its products in consumer electronics is thought to represent the greatest share of this market over this time, indicating that fingerprinting will remain a cornerstone of everyday biometrics for at least the next few years.
Capacitive scanners may remain the largest sector in terms of sensor type until 2024. This is thought to be linked to their familiarity among buyers and their ease of integration into various device types. The Asia-Pacific region may be the region to lead this market over the next 5 years, thanks to the large number of mobile and PC OEMs based there. Furthermore, the location is home to some of the major players (including CrucialTec, Egis Technology, Goodix and Q Technology) in fingerprint-sensor manufacturing.