The global fingerprint sensors market will reach a value of $12.82 billion by the year 2023, according to a new forecast from BIS Research. Published in the firm’s new report, “Global Fingerprint Sensors Market, Analysis & Forecast, 2017 – 2023,” the prediction reflects an annual growth rate of 15.7 percent during the forecast period.
The APAC region will see the fastest rate of growth over the forecast period, thanks in large part to the increasing proliferation of fingerprint sensors in mobile devices and the growing use of such technology in large government ID programs. But it’s actually the automotive sector that will see the fastest growth over the forecast period in terms of applications of fingerprint sensor technology, according to BIS’s report.
BIS’s predictions track fairly well with those of a recent Technavio report on the fingerprint biometrics market, with both market research firms highlighting government sector demand for such technology, though Technavio also placed a strong emphasis on the healthcare sector. Looking to a forecast period between 2017 and 2021, that report predicted a CAGR of 12 percent for the fingerprint biometrics market.
August 23, 2017 – by Alex Perala