Optical Fingerprint Sensor Market Research Analysis 2024-2033 | Growth, Size, Demand, Analysis, Insights

Overview and Scope

An optical fingerprint sensor is a biometric device that captures fingerprint images using light-sensitive technology, typically through an array of light-emitting diodes (LEDs) and photodiodes. It works by illuminating the fingerprint surface and recording the reflected light patterns, which are then analyzed to extract unique fingerprint characteristics for identification or authentication purposes.

Sizing and Forecast

The optical fingerprint sensor market size has grown rapidly in recent years. It will grow from $1.97 billion in 2023 to $2.18 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to security concerns, mobile device integration, cost reduction, consumer demand for convenience, and growing concerns regarding identity theft, fraud, and unauthorized access.

The optical fingerprint sensor market size is expected to see rapid growth in the next few years. It will grow to $3.32 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to advancements in technology, increasing adoption of biometric authentication, government regulations and initiatives, rising smartphone penetration, and a growing IoT (Internet of Things) ecosystem. Major trends in the forecast period include increasing adoption of mobile devices, integration with smart home devices, growth in automotive applications, advancements in sensor technology, and demand for wearable devices.

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Segmentation & Regional Insights

The optical fingerprint sensor market covered in this report is segmented –

1) By Type: Photo Diode, Charged Coupled Device, Complementary Metal–Oxide–Semiconductor (CMOS) Optical Imagers, Cover Plate, Lens

2) By Technology: Electro-Optical Imaging, Multi-Spectral Imaging

3) By Application: Consumer Electronics, Military And Defense, Banking And Finance, Telecommunications Operators, Government Agencies, Healthcare, Smart Homes, Commercial Security

North America was the largest region in the optical fingerprint sensor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the optical fingerprint sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

A growing emphasis on cybersecurity is expected to propel the growth of the optical fingerprint sensor market going forward. Cybersecurity threats are rising due to increased digitization and interconnectedness, providing more avenues for malicious actors to exploit vulnerabilities in systems and networks. Optical fingerprint sensors enhance cybersecurity by providing a biometric authentication layer, ensuring secure access to devices and systems through unique fingerprint identification, and bolstering overall security measures. For instance, in April 2023, according to the Department for Science, Innovation, and Technology, a UK-based government body, cybercrime affected 11% of businesses and 8% of charities in total. Moreover, this number has increased to 26% of medium-sized enterprises, 37% of large companies, and 25% of high-income charities compared to 2022. Therefore, the growing emphasis on cybersecurity is driving the growth of the optical fingerprint sensor market.

Key Industry Players

Major companies operating in the optical fingerprint sensor market are Qualcomm Technologies Inc., Thales Group, Microchip Technology Incorporated, Novatek Microelectronics Corporation, IDEMIA, Japan Display Inc., Synaptics Incorporated, Shenzhen Goodix Technology Co. Ltd., EGiS Technologies Inc., Fingerprint Cards AB, Anviz Global, Suprema Inc., Vkansee Technology Inc., Melfas Inc., CrucialTec, BioEnable Technologies Pvt. Ltd., Aware Inc, CMOS Sensor Inc., BIO-key International Inc., SecuGen Corporation, ID3 Technologies, FocalTech Systems Co. Ltd., Vkansee Technology Inc., NEXT Biometrics Group ASA, IDEX Biometrics ASA

The optical fingerprint sensor market report table of contents includes: