APAC to Grow at the Highest Rate and Surpass the North American Market for Fingerprint Sensors - New Report
(PRWEB) October 16, 2014 -- The report, "Fingerprint Sensors Market by Type (Swipe And Area), Material , Application, and Geography - Global Trends & Forecasts to 2014 - 2020", defines and segments the fingerprint sensors market into various sub-segments with an in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with the insights on trends, opportunities, and challenges.
The global fingerprint sensors market is projected to cross $14.35 Billion by 2020, growing at a high CAGR of 16.8% from 2014 to 2020.
Browse more than 190 market data Tables and 108 Figures spread through 350 Pages and in-depth TOC on "Fingerprint Sensors Market".
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The U.S.region is currently dominating the fingerprint sensors market due to high sales of top-end smartphones and tablets, technological advancements, and emerging applications of biometrics in this region. The ROW region lags far behind its counterparts as far as the fingerprint sensors market is concerned. The fingerprint sensors market is already a mature market in APAC due to the increased demand for simplified and secured access to mobile devices among the users in APAC. It is going to grow furthermore, and in 2020, the APAC market is expected to witness more number of shipments than Europe, North America, and ROW regions.The APAC region is the homeland for the smartphone, tablets, and other mobile device manufacturers and also the fingerprint sensors manufacturers; hence, the production and sales capacity of the APAC is the highest across the globe.
Currently, the North America region is the largest contributor in the market, both in terms of revenues and shipments. This is mainly because; the U.S.occupies the largest market for smartphones integrated with fingerprint sensors. Similar players such as AuthenTec (U.S.), Atmel Corporation (U.S.), 3M Cogent (U.S.), Digital Persona (U.S.), Fulcrum Biometrics LLC. (U.S.), and Bio-Key International Inc. (U.S.) are based in this region. Vendors of these companies are also based in North America. Countries such as U.S., Canada, and Mexico are the key countries contributing to the growth of this market.
But APAC is expected to display a strong growth in the fingerprint sensor markets in the near future, and by 2020, the shipments from those markets are expected to be largest in the global market. Trends characterized by rapid technological advancements in fingerprint sensing technologies, increasing mobile transactions, and increasing penetration of fingerprint sensor integrated smartphones have fueled the growth of the fingerprint sensor market in APAC. Countries such as China, Japan, Australia, India, and South Korea are hugely contributing to the growth of the market in the APAC region.
The fingerprint sensors are having wide application not only in mobiles but also in areas such as government, criminal identification, defense, travel and migration, banking and finance, healthcare, smart homes, and commercial security.
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