The Global Fingerprint Sensors Market Analysis and Forecast 2017-2023, published by BIS (Business Intelligence and Strategy research) says that the Global Fingerprint Sensor market is expected to hit $14.9 billion by the end of 2023.
Fingerprint sensors, still? Apple has already given up the fingerprint scanner for the new generation iPhones and Samsung has come up with the Iris detectors.
But the question then arises of whether the upcoming technologies are showing real success? What if you are detained by police or kidnapped by criminals, they won’t be able to guess your password, but they can hold the phone up to your face until you pass a Face ID scan…
When the Galaxy S8 came out this March, its facial recognition system was one of its major selling points, until it turned out the scan could be defeated by simply holding an image to the person’s face infront of the device.
You might expect a new system to offer better security, and Apple’s website states that ‘Your face is your secure password’. That statement is misleading, however.
While Apple wasn’t the first to include fingerprint authentication, it did pave the way for the technology to become mainstream. For the last four years since iPhone introduced Touch ID, almost every major vendor has been following in their footsteps. So the Touch ID remains ahead of the competition.
An analyst from BIS Research says:
North America was an early adopter of fingerprint sensors and has become an established and strong market. The APAC (Asia-Pacific) region, led by two developing nations, India and China, are adopting the fingerprint sensors across various applications, witnessing the fastest growth. The APAC region is expected to grow at a CAGR of 16.9% to become a multi-billion market by 2023.
The biometric authentication market will be still growing rapidly owing to the global safety and security concerns faced in the present day. The upcoming phase of the biometric devices is likely to overturn number of industries such as healthcare, automotive, banking and various financial institutions and many others. Fingerprint authentication methods have a promising future in identification and security systems.
According to Rachit Jain, Analyst at BIS Research:
In terms of geography, Asia- Pacific(APAC) fingerprint sensors market is expected to witness the fastest growth throughout the forecast period. The increasing usage of mobile devices and growing rate of fingerprint sensors in mobile devices is one of the driving factors for the market in the region. Moreover, the introduction of government biometric projects such as national ID programs, passports, and visas will drive the growth in the market. However, in terms of application, the automotive sector is expected to witness the fastest growth. This growth can be attributed to the increasing interest of car manufacturers towards implementing fingerprint solutions in their cars to strengthen the car’s security.
Fingerprint sensor technology is planned to meet the security requirements of the companies, collecting actionable intelligence of people with a history of past terrorist and criminal activities. They also keep an easy record in the attendance portals. The fingerprint sensors are comparatively less costly as compared to the other biometric authentication system. Possibly the global fingerprint market will show significant hike during the global forecast period due to rapid implantation based system across different application areas especially by the government. Countries including the U.S, U.K, Germany and China have strong market share in global fingerprint sensor market.