North American Fingerprint Sensors Market - Segmented by Type, Application, and Country - Growth, Trends and Forecasts (2018 - 2023)
The North American fingerprint sensors market is expected to witness a CAGR of 17.5% over the forecast period (2018 - 2023). The scope of the report is limited to solutions offered by major players, including providers of swipe sensors and area and touch sensors. The countries considered in the scope of the report include the United States and Canada.
Owing to the increasing usage of biometric devices across various organizations, increasing use of wearable devices and growing security and safety concerns, the market is expected to grow over the forecast period. Smartphone proliferation in North America has also propelled the growth of the fingerprint sensors market. The high market growth of consumer devices like smartphone, tablets, etc., demand use of fingerprint sensors to maintain privacy and security of data and access. Internet-based online and mobile commerce options, and internet banking enabled with smartphones have further enhanced the demand for fingerprint sensors in smartphones in the region.
However, factors such as lack of awareness about importance of security and complexity of integration of smartphones, like devices with fingerprint sensors, can impede the growth of the fingerprint sensors market.
Increasing Usage of Fingerprint Sensors for Wearable Devices and Smartphones expected to be the Primary Driver
The increasing penetration of smartphones, especially in Western North America, has caused an increased demand for smartphones with advanced biometric locking systems, causing smartphones to be the fastest-growing segment in this market during the forecast period. Currently, smart devices are used for almost every activity, such as bill payments, purchases, and even banking. Therefore, there is an increased need for secure biometric authentication systems. This has led to the growth in the demand for fingerprint sensors. In 2016, there was an increase in penetration for smart devices in the United States, whereas in Canada, the penetration rate was relatively lower. Also, the adoption of innovative technologies has resulted in a price surge in the smart wearable market. However, introduction of fingerprint locks into some of the available budget phones in the market has caused a whirlwind in the smartphone market. By this incorporation, smartphone manufacturers have removed the vulnerability issues of passwords and passcodes from smart devices. Thus, the North American market for fingerprint sensors is expected to be driven by the growth and penetration of smart devices in the region.
Military & Defense Application expected to Register a Significant Growth Rate
After the 9/11 attack on the United States, many security organizations in the North American region ramped up their security apparatus to prevent further terrorist attacks. The importance of the security and control is guided by the degree of sensitivity, nature, and environment. Some of the applications of the fingerprint sensors systems in military are military base authorized perimeter access, personal security systems for military installations, and others. Moreover, there is an increased spending on defense in the region, which is also expected to offer opportunities for the market to boost. In June 2017, the Canadian Defense Minister Harjit Sajjan, unveiled a 20-year policy review that had been in the works for months. According to this policy, armed forces budget would jump by 73% to CAD 32.7 billion in 2027 from CAD 18.9 billion in 2017, with the largest increases coming in later years.
United States Accounted for a Greater Share
The fingerprint sensing technology is no longer in its infancy in the United States and the advancements in the technology have led to its wider adoption in several application segments. Secure access control is the major driver for the growth of fingerprint sensors. Access control for entry is done using biometrics in which smart touch sensors and smart fingerprint sensors are used. The sensors are further used for employee monitoring, security breaches, and intruder alerts in the country. Moreover, in the United States, the penetration rate of smartphones is extremely high and crossed 85% by 2017. The high replacement rate of smart devices indicates a potential of about more than 80 million devices, in the next two years. All the aforementioned factors are expected to drive the market for fingerprint sensors.
Key Developments in the Market
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