The fingerprint sensor market continues to its ascent and will grow at an annual rate of 17.1 percent until 2020, according to a recent report from Markets and Markets. The market research firm says that last year the fingerprint sensor market was worth $5.5 billion USD, and by 2020 will be valued at $14.5 billion.
In a report synopsis, Markets and Markets points to the versatility of fingerprint sensor technology, noting that it’s “widely being used in various industry verticals such as defense, healthcare, commercial segment, and mobile applications among others.” But it also asserts that the fingerprint sensor market “is booming due to their increasing adoption in various electronic devices such as smartphones, tablets, laptops, and PCs.” That is undeniable: Thanks to the pioneering efforts of the Touch ID fingerprint scanning system on mobile apple devices, such biometric sensors are now almost a standard feature on new mid- and high-end smartphones. Meanwhile, Microsoft has been influential in getting the technology into hardware, in large part thanks to partners’ interest in taking advantage of the biometric authentication capabilities of its new Windows 10 operating system.
In recent months we have also seen fingerprint biometrics popping up in major government applications, such as the proposed scanning of migrants at Schengen borders, the use of fingerprint scanning for biometric voter authentication, and, of course, the use of fingerprint scanning technologies by police forces. Meanwhile, another recent report predicted that the fingerprint access control market alone would reach a value of $4.41 billion by 2022. Given the breadth of its reach and particularly its saturation in mobile devices, fingerprint sensor technology is poised to keep growing for the next several years at least.
October 6, 2015 – by Alex Perala