Fingerprint module is a specific technology to recognize & validate the fingerprints of any user in order to allow and deny access to the computer system or physical facility. It is a secure technology which is a combination of computer software programs & hardware. It generally includes two processes, fingerprint enrollment and fingerprint matching. In fingerprint enrollment process, the user has to register his fingerprint that gets stored in the database. In the fingerprint matching process, when the user enters his finger, system compares the fingerprint with database and according to the match it either allows or denies the access.
As per analysis, “Global Fingerprint Module Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” some of the key companies that are currently operating in the global fingerprint module market include Holtek Semiconductor, ADH Technology Co. Ltd., Suprema, Aratek, Shenazhen CAMA Biometrics Co., Furtonic Technology, Crossmatch, HID Global, BioEnable, NURUGO, STARTEK Engineering Inc, Fingerprint Cards AB, Techshino, Shenazhen CAMA Biometrics Co., Gingy, Q Technology, MIAXIS BIOMETRICS, SecuGen Corporation and among others. Despite the considerable investments in maintaining the network & information security, most organizations are at continuous risk of data theft & malware attacks. As a result, enterprises are adopting very secure fingerprint biometrics systems which are leading to the growth of fingerprint module market.
Based on type, fingerprint module market is segmented as optical module, swipe module and type III. In addition, based on application, market is segmented as smart phone, tablet and application 3.
The fingerprint module market is driven by increase in number of data security breach incidents, followed by rise in adoption of biometric authentication in government buildings, change in smart-phone architecture, increase in government investments toward security & protection of data, extensive use of fingerprint sensors for biometric authentication in consumer electronics and growth in number of identity threats & emergence of touch less fingerprint technologies. However, high cost associated with computer hardware & software programs and security threats pertaining to biometric database may impact the market. Moreover, emerging trends toward IoT based biometric technology is a leading opportunity for market. Furthermore, rapid integration with smart cards is a key trend for market.
Based on geography, the North-America holds major share in global fingerprint module market owing to increase in integrating facilities with biometric system, rise in demand for convenient & secure payment methods coupled with growth in adoption of the fingerprint modules among organizations for identification & security across the region. The Europe and Asia-Pacific regions are estimated to exhibit higher CAGR due to rise in need for a secure & reliable mode of employee identification and increase in adoption of fingerprint modules to monitor the attendance of employees & border control by the governments over the forecast period. It is likely that future of the global fingerprint module market will be bright as a result of expanding smart-phone integrations of biometric authentication and high growth rate of the smart-phone during the forecast period.
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Ankur Gupta, Head Marketing & Communications