Finger Printing Market - Forecast(2024 - 2030)

Finger Printing Market Overview

The Finger Printing market size is forecast to reach $5.8 billion by 2027 and is projected to grow at a CAGR of 10.1% during forecast period 2022-2027. The rising need of multi-factor biometric authentication systems across consumer electronics, banking and financial sectors is set to drive the adoption of Finger printing. Factors such as the proliferation of Finger printing in smartphones and other consumer electronics, government support for the adoption of Finger printing in BFSI industry, and the use of biometrics in mobile commerce and for online tracking are driving the growth of the market. The adoption of fingerprint protection by smartphones as access control systems to secure stored data and the essential bank options such as OTP and mobile banking applications are expected to fuel the Finger printing market. According to the statics provided by TrendForce, growth in the share of smartphone shipments incorporated with Finger printing increased from 29% in 2015 to 84% in 2021, which is likely to augment the Finger printing market further during the forecast period. On the other hand, increasing support from the government for the adoption of Finger printing, along with use of biometrics in BFSI for both customers and attendance recording systems, and law enforcement sectors has been driving the Finger printing market. The fingerprint devices in BFSI will help in authenticated transaction with fingerprint to prevent fraud that will lead the growth of Finger printing market. In Finger printing market major developments such as utilization of thermal scanners would make dynamical changes, which in turn, will augment the market in terms of revenue. The development in mobile fingerprint devices by Metropolitan Police Service can scan suspect fingerprints and returns any match to police databases within 60 seconds that is one of the emerging innovation for law enforcement. These developments and innovations are expected to grow the of Finger printing market globally. 

Finger Printing Market Report Coverage

The report: “Finger Printing – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Finger Printing Market Report.

Key Takeaways

• The major driving factor in the Finger printing market is the increasing demand of smartphones with high-end technologies and fingerprint specifications, which are likely to grow the Finger printing market during the forecast period.
• The BFSI sector in the Finger printing market is expected to grow at a CAGR of 15.3% during the forecast period. The increased need for multi-factor authentication systems in banking is being more prominent and increasing the demand for Finger printing within this application.
• APAC holds the largest market for the Finger printing market accounting to around 34% of the global market share in 2021 owing to the increased demand for consumer electronics such as smartphones, and wearable devices and so on, which are installed with Finger printing. Moreover, the BFSI sector will be showing significant growth in the adoption of fingerprint to prevent the fraud cases.

The capacitive and optical sensor technology are the most common type of fingerprint scanner, being used nowadays with capacitive sensors accounting for 27.2% market share in 2021. The market is expanding significantly owing to increasing demand for secure consumer electronics and an overall need for rigid security. Apart from that, the optical fingerprint scanner is now being used in most cost-effective hardware these days. These sensor are gaining prominence due to increasing popularity of in-display Finger printing. Essential technology such as optical sensors has the viability to work efficiently with smartphones and provide multi-factor authentication systems in mobile banking ecosystem, which is likely to grow the Finger printing market positively. 

Finger Printing Market Segment Analysis - By Industry

The BFSI industry in Finger printing market is expected to grow with the fastest CAGR of 15.3% during the forecast period 2022-2027. The banks are extensively working on payments cards with in-built Finger printing, in order to end the need of PINs to make payments much secure. This will allow the most secure authentication mechanism for account holders. Moreover, the government support for the adoption of Finger printing owing to keep the security for unique identification and verification of individuals in e-Governance applications are expected to propel the growth of the Finger printing market. On the other hand, consumer electronics is one of the major market for Finger printing. Various biometric incorporated devices such as smartphones, tablets, gaming consoles, and notebooks are expected to fuel the Finger printing market. The growing trend of bezel-less screens feature, using OLED display, in smartphones has led the manufacturers to develop high-end in-display Finger printing technology that occupy less space. This in-display Finger printing will be incorporated in OLED displays using optical or ultra-sonic sensor technology.

Finger Printing Market Segment Analysis - By Geography

The Asia Pacific region is the largest revenue contributor for the Finger printing market, with a share of 34% in 2021. The rising adoption in mobile banking applications, collaborative innovations, updating smart devices, and, of course, security concerns in this region has resulted in increased demand for Finger printing in this region. Moreover, the demand for fingerprint technology in China has grown tremendously, especially in the consumer electronics, commercial, healthcare, government and banking sectors owing to protect the data from threats. Based on the statistics of Statista, the consumer electronics user penetration in China is expected to hit from 23.4% in 2019 to 35.3% in 2023. Following this current market trend, numerous consumers are willing to transact using smart devices that integrate biometric identification systems for providing more security during transactions. This will lead to increased demand for Finger printing technology in coming years. Similarly, in India, the increasing use of smartphones and other consumer appliances are witnessing a huge growth in terms of revenue. The smartphone penetration rate in India is expected to reach from 2018 in 26% to 36.2% in 2022. Thus, the growth in smartphones will significantly grow the Finger printing market in this region. On the other hand, the government initiatives such as UIDAI for unique identification for individual citizen that is registered with fingerprint is expected to propel the growth of fingerprint market. Similar initiatives are being taken by other governments around the world, eventually leading to increasing demand of Finger printing in the near future.

Finger Printing Market Drivers 

Major adoption of Biometrics in Law Enforcement and Government Applications:

Within law enforcement, biometrics authentication is playing a key role in providing criminal ID solutions such as Automated Fingerprint Identification Systems (AFIS). This solution enables law enforcement agencies to identify and store data of the criminals. Moreover, unique identification initiatives taken by government, eventually driving the need of Finger printing across all the application in a country. The rising demand of intelligence security systems in mobile devices to provide security to the data stored in the mobile devices such as bank account details, images, recordings, contacts and other personalized data is a major driving factor for the growth of Finger Printing Market. The proposed U.S budget for the Army in fiscal year 2022 seeks more than $11 million to purchase 95 new biometric collection devices including finger printing solutions expanding upon those used in Afghanistan and Iraq.

Emergence of Finger printing enabled smartphones: 

Smartphones have increased penetration of in-display fingerprint sensing technology. Most smartphone manufacturers such as Samsung, Vivo, Huawei and Xiaomi are launching models that are integrated with Finger printing. The increasing demand for smartphones with advanced sensing technologies will create enhanced opportunities for the Finger printing market. The growing mobile subscribers base has brought significant growth in the Mobile Biometrics Market. According to Global System for Mobile Communications Association (GSMA) Mobile economy report 2021, there were approximately 6.6 billion unique mobile subscribers in 2020 which was forecasted to reach 7.2 billion by the end of 2025 among which smartphones accounted for 60% of the connections and it is expected that the number would reach approximately six billion in 2026, with an 80% share of smartphones. This increasing number of mobile subscribers across the globe tend to boost the demand of mobile biometrics for security applications, further driving its market growth during the forecast period. In last few years, global electronics market has witnessed a huge market growth across the globe due to the mass production of mobile devices of flexible price ranges. Mobile devices with price range around $95 has in-built fingerprint biometric systems. These makes these devices affordable to majority of the consumers across the globe. With this huge availability of mobile subscribers across the globe, the threat of theft and data leakage is always at peak.

Finger Printing Market Challenges

Integration of biometrics in to the devices is increasing the competition for fingerprint devices

The ability of biometrics is to access the biological parameters such as iris/retina, voice, pulse, DNA, and vein, provide the advance level of security. Since every individual possesses unique physiological features, which can’t be easily swapped, shared, or stolen. In biometrics, the recognition accuracy, integration and resetting ability is not working effectively, which are causing fall in the biometrics usage. Hence, the development in Finger printing to make the module compact, thin, and easy to integrate with better recognition accuracy can reduce the use of other biometrics. 

Market Landscape

Partnerships and acquisitions along with product development and up-gradation are the key strategies of the top players in the Finger Printing Market. The Finger Printing Market top 10 companies include

1. Apple
2. Goodix
3. Egis Technology
4. Fingerprint Cards AB
5. Synaptics
6. IDEMIA
7. NEXT Biometrics
8. Anviz Global
9. IDEX ASA
10. Gemalto

Recent Developments

• In March 2019, Gemalto acquired Green Bit to offer biometric scanners as part of complete automated fingerprint identification system (AFIS). This deal have been done by noticing an increase use of biometric scanners by governments for identity management purposes.
• In May 2019, NEXT Biometrics and Newland entered into a supply agreement with Fujian Newland Payment Technology Co., Ltd. to provide an integration of different types of NEXT Biometrics' high-quality, large-area Finger Printing on a global scale.
• In October 2020, Aware, Inc., a leading global provider of biometrics software products, solutions and services launched their new mobile biometric software named Knomi in the authentication of offenders in Arkansas. It offers mobile biometric authentication solution featuring face and voice liveness detection. 

Relevant Report Titles:

Mobile Biometric Security and Services Market – Forecast (2021 - 2026)

Report Code: ITR 46772

Next Generation Biometrics Market – Forecast (2021 - 2026)

Report Code: ESR 0036

Mobile Biometrics Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022 – 2027

Report Code: ESR 23142

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