North America Fingerprint Sensors Market Forecast 2019-2027

North America Fingerprint Sensors Market Forecast 2019-2027

KEY FINDINGS

Fingerprint recognition or fingerprint authentication is the automated method of verifying a match between an individual’s fingerprints. They function by identifying the ridges pattern on the fingertips. With the growing user acceptance for biometric-enabled smart devices, the implementation of fingerprint biometrics in smart devices, such as smartphones, laptops, and tablets, is rising, creating a positive impact on market revenue.

The North America fingerprint sensors market is expected to progress at a rate of 16.53% to reach $XX billion by 2027, during the forecast period. The base year considered for the market study is 2018 & the estimated period is between 2019 & 2027.

MARKET INSIGHTS

With increasing adoption of fingerprint biometrics, newer challenges have been introduced in the market. Latent fingerprinting & spoofing, complexities in integrating fingerprint sensors technology into existing software, security concerns & vulnerability of fingerprint biometrics, and the high probability for inaccuracies as a result of the complexities mentioned above are the key challenges that are restraining the market growth of fingerprint sensors. Due to instances of criminal activities in the past few years across North America, the need for biometrics technology has increased to identify the criminals, which has forced the government to increase its expenditure on the fingerprint biometrics technology. A number of financial institutions and ATMs are also incorporating the use of fingerprint biometrics to authenticate their transactions.

The major economies that are influencing the market expansion in the region belong to the United States and Canada. The Canada market for fingerprint sensors is anticipated to be the fastest growing market in North America, primarily due to the establishment of many big players who have launched many fingerprint sensor devices in the country.

COMPETITIVE INSIGHTS

The eminent market players operating in the region that have been exhaustively profiled in the report are Bio-Key International, NEC Corporation, OT-Morpho (Safran Identity & Security), Fulcrum Biometrics, Synaptics, Precise Biometrics, Aware Inc., Fingerprint Cards AB, HID Global, Innovatrics, Crossmatch Technologies, M2SYS Technology, Next Biometrics, Anviz Global, and Gemalto NV.