Los Angeles, February 10, 2020 -Demand for advanced level of security in commercial, private, and public sector is expected to boost the demand for fingerprint module in global market. QY Research has recently published a report titled “Global Fingerprint Module Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application” predicting the potential growth opportunities that lie in the global market. According to the report, the global fingerprint module market was worth US$2700 mn in 2019 and will reach US$5833 mn by the end of 2026, registering a CAGR of 11.5% during the forecast period.
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Rise in Hacking to Boost Demand for Fingerprint Module Market
As the world is becoming digital, protecting confidential information is becoming very important. Hacking is one of the biggest threat to the traditional security solutions, creating a threat and raising the demand for advanced technology to secure devices. Digitalization is shaping and changing the way organizations works, which has put the spotlight on need for ironclad security. Connected devices, Internet of Things, and cloud-based services has made cyberattacks universal, thereby creating a demand for fingerprint module to prevent thefts. Fingerprint module authentication is likely to transform the digital market as it is designed to authenticate everyone with their unique fingerprints, making highly reliable, sophisticated, and difficult to duplicate.
The Iot landscape is becoming increasingly complicated owing to the plethora of devices that highly rely on password for authentication. The possibility of breach is multiplied due to the rising amount of smartphone tablets, sensors, and cloud-based services. Fingerprint module eliminates the need of entering confusing, easy to hack passwords. It will primarily rise in demand due to its unique and effective way of identity verification.
Stringent Safety Measures to Augment Demand for Government and Law Enforcement Sector
Government and law enforcement sector is expected to witness rise in demand during the forecast period as government and law enforcement bodies are among the highest and most important bodies in the world. Safeguarding important documents and files requires stringent safety measures, which is expected to boost the demand in market.
Advancements in Cyber Laws in North America to Lead the Global Market
North America is expected to rise in demand during the forecast period as this region is one most advanced regions in terms of strict cyber laws. Increased investments from government bodies for research and development activities are also likely to boost the market in this region.
Key players are innovating services to boost the competition in the market. Technological advancements has led to evolution of services, allowing manufacturers to produce services such as upgrading to sensor touch and other added features.
The key players operating in the global fingerprint module market are Crossmatch, IDEMIA, Suprema, HID Global, Furtonic Technology, Apple, Holtek Semiconductor, 360 Biometrics, NEXT Biometrics, and BioEnable.
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