With increasing security concerns, the uptake of fingerprint-sensing-technology-integrated smartphones is rising across the world. Seeing the growing demand, numerous smartphone manufacturers have started deploying this functionality in their products, in order to offer customers enhanced security and better convenience of changing their personal identification number (PIN) and password. Compared to 50% in 2017, almost 60% of the smartphones produced in 2018 had this technology.
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The need for making premises safe is rising all across the globe, as security threats are increasing. This is particularly important for government organizations, military headquarters, and courts where sensitive data is stored regarding different crucial matters. In order to make premises safer, such places have started making use of fingerprint sensors for authenticating identity and preventing duplication.
Owing to such factors, the global fingerprint sensors market is projected to register considerable growth in the coming years. These days, the adoption of in-display fingerprint sensors is increasing across the globe, which is majorly ascribed to the growing utilization of smartphones and the rising utilization of online payments. In addition to this, the extensive focus on making smartphones smoother and sleeker is also resulting in the increasing use of fingerprint sensors in these devices.
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Take for example the Unique Identification Authority of India, which utilizes Aadhaar-based biometric identification for dispersing the benefits sanctioned under different social welfare schemes to population that is economically weak. Under this model, fingerprints of people are captured, thereby ensuring the authentication of identity while the distribution of benefits.
Asia-Pacific (APAC), which accounted for the highest procurement rate of fingerprint sensors in the past, is set to experience the highest CAGR in the industry in the immediate future. This would be a result of the rapid adoption of such instruments like biometric sensors by the government of India, China, and Indonesia, along with the surging uptake of fingerprint-sensors-integrated smartphones by the booming population, which is also experiencing an increase in its spending power.
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