Optical Fingerprint Sensor Market 2021-2027
Global Optical Fingerprint Sensor market, Industrial Analysis, Market Dynamics, Growth Analysis, Regional Analysis, Size, Share, and Forecast 2021- 2027.
Market Overview
Market Research Future (MRFR) expects the global optical fingerprint sensor market 2020 to attain a valuation of USD 1 billion by 2023-end. It is also estimated that the market can advance at a decent rate of 12% between 2017 and 2023, which is the forecast period. We will provide covid-19 impact analysis with report.
The study of market analysis of “Optical Fingerprint Sensor Market” focuses on the key elements and the market dynamics of a specific market within that particular industry. The market study is an essential part of the industry analysis that focuses on the aspects associated with the SWOT analysis. The survey report analyses the elements, such as the strengths, weaknesses, opportunities, and threats of every individual manufacturing company.
With the help of the report analysis, every new or established manufacturer can gain knowledge about the business strategies and planning by the significant key marketers who are having a strong base. The documentation is prepared by investigating the company’s activities related to their planning, decision making, purchase, capital investment, innovation, workforce, business expansion strategy, facility expansion, promotional activities, and many other aspects of a company.
Market Dynamics of Global Optical Fingerprint Sensor market
The rising awareness among the global population for the product benefit tends to increase the production of a product of Global Optical Fingerprint Sensor market in a positive way. The manufacturers are hopeful about the possibilities of their market growth. And the analyst are also prepared the report by predicting the high growth rate than the recent rate of growth. A wide range of market players is the vital factor to gain the attraction of the larger buyers, as well as the regional market, existed across the globe.
Primary Boosters and Main Deterrents
Optical fingerprint scanning technology has been observing a rapid surge in its adoption rate, on account of its high accuracy level and affordability that makes it a big hit among price-sensitive end-users. A mounting need to safeguard sensitive data and information within an intensely competitive environment prompts am increase in the adoption of fingerprint sensors. With a widespread use in commercial security, the optical fingerprint sensor technology has a broad application range across various industries, which induces major market growth across the globe.
Vastly utilized in various consumer electronics, the frequent advancements in the display technology coupled with security have given rise to lucrative opportunities that result in business expansion. The flourishing consumer electronics industry along with the rampant demand of these products has boosted the demand for optical fingerprint sensors. New applications paired with the associated markets are projected to expand in the coming years, which can drive the market growth for optical fingerprint sensors. The increasing number of attractive opportunities and the technological advancements that are underway in the field can also benefit the optical fingerprint sensor market during the appraisal period.
Speaking of opportunities, optical fingerprint sensors are extensively deployed in smartphones. However, the latest trend is the increasing use of in-display optical fingerprint sensors in smartphones that can pave the way for better growth prospects in the market. As of now, the technology is considered highly affordable; however more developments are ongoing to come up with lower priced systems to draw in the attention of more consumers. This is bound to ensure market growth in the approaching years.
MRFR provides the latest impact analysis on COVID-19, revealing that in just few months, the semiconductor industry has been drastically affected by the recent crisis. Taking into account the long-term impact of covid-19, the semiconductor sector will however remain resilient, in line with the companies adopting the work-from-home strategy to ensure their operations continue in the coming time. Therefore, with the rising use of digital platforms, the demand for data centers, laptops, and other gadgets has skyrocketed in the face of the present lockdown situation. Although the short-term impact of the pandemic can lead to slight inconvenience, the growth potential of the optical fingerprint sensor market seems quite high.
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Key Players
The report has profiled some of the Important players prevalent in the global like – Securlinx Integration Software (U.S.), Fingerprint Cards AB (Sweden), BioEnable Technologies Pvt. Ltd. (India), VocalZoom (Israel), Vkansee (China), Bio Key International Inc (U.S.), SecuGen Corporation (U.S.), Shenazhen CAMA Biometrics Co.Ltd (China), Aware Inc (U.S.), Bayometric (U.S.), Synaptics Incorporated (U.S.) and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Optical Fingerprint Sensor.
Market Segmentation
The market for optical fingerprint sensors has been considered for component, technology and application.
The primary components covered in the market study are charged coupled device (CCD), photodiode, cover plate and lens as well as CMOS optical imagers. Between these, the lead has been taken by the CCD segment and the CMOS segment, given their combined use in fingerprint sensors.
The main technologies studied are electro-optical imaging as well as multi-spectral imaging. Electro-optical imaging is one of the most popular techniques in optical fingerprint sensors, as a result of which it is holds the biggest share in the global market.
The applications of optical fingerprint sensors are government agencies, healthcare, military & defense, smart homes, telecom operators, banking & finance, commercial security, consumer electronics, and more. Banking & finance, commercial security and telecom can exhibit higher demand in the coming years, and show fast growth during the given period.
Regional Study
The regional study of the optical fingerprint sensor market covers Europe, North America, Asia Pacific (APAC) and the Rest of the World (RoW).
The dominance of the APAC market is apparent, given the strong presence of a massive number of celebrated tech vendors in the consumer electronics and semiconductors industries. The high concentration of a number of renowned smartphone OEMs like Oppo, Samsung, Xiaomi and Vivo in China; increasing deployment of biometrics systems in retail and the mounting need to bring down the fraud incidents and provide safe access to the logical and physical assets in commercial applications also benefit the optical fingerprint sensor market. The increasing awareness levels about the benefits of optical fingerprint sensing technology and the appeal of its cost-effectiveness also drives the APAC market.
North America is one of the strongest contenders in the global market for optical fingerprint sensors, spearheaded by the US and Canada. The market study suggests that the frequent technical advancements and the increase in security-related concerns push the uptake of optical fingerprint sensors in the region.
Latest News
May 2020
3M recently developed 3M Near Infrared Transmission System or 3M NITS, which is a technology that can enable the installation of under-display optical fingerprint sensors in smartphones that have LCD displays. This can enable fingerprint biometrics on the devices with edge-to-edge LCD screens.
Key Stakeholders
Optical Fingerprint Sensor Market Manufacturers
Optical Fingerprint Sensor Market Distributors/Traders/Wholesalers
Optical Fingerprint Sensor Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Continued…
Our team is studying Covid-19 and its impact on various industry verticals and wherever required we will be considering Covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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