Fingerprint sensors market will be worth $14.35 billion by 2020, says firm

fingerprint sensor According to a new market research report, Fingerprint Sensors Market — Global Trends & Forecasts to 2014 – 2020,” published by MarketsandMarkets, the global fingerprint sensors market is projected to exceed $14.35 billion by 2020, growing at a high CAGR of 16.8% from 2014 to 2020.

The report, “Fingerprint Sensors Market by Type (Swipe And Area), Material (Optical Prism, Pizeoelectric, Capacitive, and Adhesives), Application (Mobile Devices, Government, Defense, Healthcare, Commercial Security and Banking & Finance), and Geography – Global Trends & Forecasts to 2014 – 2020,” includes more than 78 market data tables and 95 figures, which are spread across 350 pages.

Today, using biometrics for authentication purpose provides greater convenience and reliability, explains the market research firm. Fingerprint sensors are the leading biometric technology in consumer electronics, equipped with secured authentication system.

In recent times, smartphones, tablets and PDAs are becoming indispensable gadget of our everyday lives. Fingerprint sensors enable fast, secure and reliable access to smartphones, where lots of personal information, such as contacts, payment details, texts, location data and emails, are stored in some kind of encrypted form on the phone.

The fingerprint sensors are having wide application not only in mobile devices, but also in areas such as government, criminal identification, defense, travel and migration, banking and finance, healthcare, smart homes, and commercial security, notes MarketsandMarkets.