Fingerprint Sensors Market Size (2024 - 2029)

Fingerprint Sensors Market Analysis

The Fingerprint Sensors Market size is estimated at USD 9.54 billion in 2024, and is expected to reach USD 16.78 billion by 2029, growing at a CAGR of 11.96% during the forecast period (2024-2029).

The fingerprint sensors market has expanded rapidly over the past few years and is projected to increase even further during the forecast period. Increased adoption of smartphones, increasing security applications, and government initiatives to adopt biometrics tend to be the key factors driving the demand for fingerprint sensors globally.

• The fingerprint is among the prominent types of biometrics used in various devices and application fields, leading to the rise in demand for fingerprint sensors. Moreover, according to the survey carried out by the Biometrics Institute, interest in artificial intelligence (AI) more than doubled from 8% in 2022 to 19% in 2023. In the short term, AI is also expected to surpass digital identity as the most significant development in biometrics.
• The growing penetration of smartphones equipped with fingerprint sensors is among the prominent drivers of the market studied. For instance, as reported by GSMA, the global smartphone penetration rate was estimated at 68% in 2022, up for the first time since 2018. This is based on an estimated 6.3 billion smartphone subscriptions globally and a worldwide population of around 7.4 billion.
• In line with that, the number of intelligent devices, such as tablets, laptops, smartphones, and smart wearables per person, is expected to increase over the coming years. These devices are increasingly being incorporated with fingerprint sensors.
• Smartphone penetration is increasing exponentially, owing to the increasing influence of fast internet access. With the advent of 5G, smartphone penetration is expected to increase even further. According to GSMA, the number of smartphone subscribers in North America is expected to reach 328 million by 2025.
• Moreover, by 2025, the region may witness an increase in the penetration rates of mobile subscribers (86%) and the internet (80%). According to GSMA, by 2025, Europe is estimated to register the highest internet penetration rate (82%) and smartphones (88%).
• Facial recognition systems are becoming increasingly common in various devices. For instance, major smartphone vendors, such as Apple, Samsung, and OnePlus, have already incorporated this user authentication. However, this increase in the adoption of substitute technology can hamper the growth of the fingerprint sensors market.

Fingerprint Sensors Industry Segmentation

A fingerprint sensor is an electronic security system that uses fingerprints for biometric authentication to grant users access to a device or information or to approve transactions.

The fingerprint sensor market is segmented by type (optical, capacitive, thermal, and ultrasonic), application (smartphones/tablets, laptops, smartcards, IoT, and other applications), end-user industry (military and defense, consumer electronics, BFSI, government, and other end-user industries), and geography (North America [United States and Canada], Europe [Germany, United Kingdom, France, and the Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and the Rest of Asia-Pacific], Latin America, and Middle East and Africa). The market size and forecast are provided in terms of value (USD) for all the segments.