Mobile banking and OTP apps are expected to drive the Finger printing market.
HYDERABAD TELANGANA INDIA, November 24, 2022 /EINPresswire.com/ — According to IndustryARC’s new report, the global Finger Printing Market is expected reach $5.8 Billion by 2027. The market is expected to grow at a 10.1% CAGR between 2022 and 2027. Multi-factor biometric authentication systems are becoming more important in the financial, consumer electronics and banking sectors. This will drive Finger printing adoption. Market growth is driven by factors like the increased use of Fingerprinting in smartphones and other consumer electronics as well as government support for Finger printing in BFSI. The market is fully analysed in the report, including its key segments, growth factors and trends, as well as key players.
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The Key Takeaways
This IndustryARC report on the Finger Printing Market highlights the following areas –
• The major driving factor in the Finger printing market is the increasing demand of smartphones with high-end technologies and fingerprint specifications, which are likely to grow the Finger printing market during the forecast period.
• The BFSI sector in the Finger printing market is expected to grow at a CAGR of 15.3% during the forecast period. This is driving the increased demand for Finger printing in this application.
• APAC holds the largest market for the Finger printing market accounting to around 34% of the global market share in 2021 owing to the increased demand for consumer electronics such as smartphones, and wearable devices and so on, which are installed with Finger printing. The BFSI sector will also see significant growth in fingerprint adoption to prevent fraud cases.
• By Technology: The capacitive and optical sensor technology are the most common type of fingerprint scanner, being used nowadays with capacitive sensors accounting for 27.2% market share in 2021. This is due to the increasing demand for security-conscious consumer electronics and the need for more rigid security.
• By End Industry: The BFSI industry in Finger printing market is expected to grow with the fastest CAGR of 15.3% during the forecast period 2022-2027. To make payments more secure, banks are working hard to develop payment cards that have Finger printing built in. This will be the most secure authentication system for account holders.
• By Geography: The Asia Pacific region is the largest revenue contributor for the Finger printing market, with a share of 34% in 2021. This has led to a greater demand for Finger printing due to the growing adoption of mobile banking, collaborative innovations and updating smart devices.
The Finger Printing Market Report can be purchased by clicking the following link:
These are the top five players in Large Finger Printing Industry:
3. Egis Technology
4. Fingerprint Cards AB
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