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Fingerprint Sensors Market Worth USD 8.85 Billion by 2022 - Increasing Usage of Fingerprint Sensors in Smartphones - Research and Markets

[July 27, 2016]

Fingerprint Sensors Market Worth USD 8.85 Billion by 2022 - Increasing Usage of Fingerprint Sensors in Smartphones - Research and Markets

Research and Markets has announced the addition of the "Fingerprint Sensors Market by Type, Technology, Application and Geography - Global Forecast to 2022" report to their offering.

The fingerprint sensors market is expected to grow at a CAGR of 18.9% to reach USD 8.85 billion by 2022. Approximately, 649.1 million fingerprint sensors were shipped worldwide in 2015 and the shipment is expected to reach 3,252.1 million by 2022, at a CAGR of 23.2% between 2016 and 2022.

The growing adoption of fingerprint sensors in the banking & finance industry, increasing usage of fingerprint sensors in smartphones and other consumer electronics, need for secured and simplified user access, rapid growth in mobile commerce, and the increasing usage of biometrics systems for criminal identification among others are the factors driving the growth of the market.

The growth of the fingerprint sensors market in the banking & finance industry is mainly driven by the rising instances of fraudulence in transaction which demand mre secure options such as biometric cards and products. Also, there has been an increase in non-cash transactions in the past few years which drives the demand for cards (credit/debit). Biometric debit or credit cards provide more security over other methods, which is one of the driving factors behind the growth of this market in the banking & finance industry.

The growth of the fingerprint sensors market in APAC is attributed to the increase in demand for mobile devices, increased government projects in law enforcement, rapid urbanization, growing population, and the increasing disposable income.

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