WILMINGTON, DELAWARE , UNITED STATES, September 23, 2023 /EINPresswire.com/ — Allied Market Research published a report on the Fingerprint Sensor Market by Type and End Use: Global Opportunity Analysis and Industry Forecast, 2020-2027.
The global fingerprint sensor market size was valued at $2.93 billion in 2019, and is projected to reach $9.41 billion by 2027, registering a CAGR of 14.5% from 2020 to 2027.
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Fingerprint sensors are used in fingerprint detection devices such as biometric fingerprint scanners. These devices are mainly inbuilt in fingerprint detection module and are used for safety and authenticity. The main features of biometric fingerprint scanner mainly include accuracy, better performance, and robustness based on exclusive fingerprint biometric technology. Fingerprint scanner is an extremely safe & suitable device. The working principle of a fingerprint sensor mainly depends on processing. Fingerprint processing mainly includes two elements, namely enrollment and matching.
Optical fingerprint sensor provide authenticated user with fast, secure, and easy access to personal contact details, emails, payment information, location data, and other types of encrypted data. Sensors for fingerprints allow fast record keeping and control of portals for attendance. Compared with other biometric authentication systems, they are less costly. These factors further increase growth of the fingerprint sensor market size.
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The competitive environment of the fingerprint sensor market is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, fingerprint sensor market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the fingerprint sensor industry include:
⦁ Thales Group
⦁ Apple Inc.
⦁ Synaptics Incorporated
⦁ Egis Technology Inc.
⦁ 3M Congent Inc.
⦁ SecuGen Corporation
⦁ HID Global Corporation
⦁ Precise Biometrics
Fingerprint sensors provide authenticated user with fast, secure, and easy access to personal contact details, emails, payment information, location data, and other types of encrypted data. Sensors for fingerprints allow fast record keeping and control of portals for attendance. Compared with other biometric authentication systems, they are less costly. Hence, such factors increase growth of the fingerprint sensor market size.
Notable factors positively affecting the fingerprint sensor industry include extensive use of fingerprint sensors for biometric authentication in consumer electronics, increase in adoption of biometric authentication in government buildings, rise in number of identity threats, and emergence of touch less fingerprint technology.
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Key Benefits for Stakeholders:
⦁ This study includes the analytical depiction of the fingerprint sensor market forecast along with the current trends and future estimations to determine the imminent investment pockets.
⦁ The report presents information regarding the key drivers, restraints, and opportunities in the fingerprint sensor market analysis.
⦁ The fingerprint sensor market share is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
⦁ Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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