The fact that fingerprints can be used to identify an individual has been known since ancient times, with records suggesting the concept to be in practice in Egypt as early as 2,000 BC. By the 1920s, governments around the world were widely using these features as proofs of identity. Then, people were simply made to cover their fingerprints with ink, for their impressions to be recorded on plain paper. With time, the science of capturing, storing, and analyzing fingerprints has advanced significantly, with electronic means now being more widely used.

Thus, with the growth of this practice, PS Intelligence expects the fingerprint sensors market value to rise from $3.8 billion in 2019 at a high 13.6% CAGR between 2020 and 2030 (forecast period). For the longest time, fingerprints have been leveraged by governments for employee and citizen enrolment and verification. They are used for enrolling people for ration cards and other public services and during criminal investigations. However, now, the practice has become popular in many other industries, such as consumer electronics, corporate, banking, financial services, and insurance (BFSI), hospitality and healthcare, retail, and automotive.

Because of all these reasons, the highest revenue to the fingerprint sensors market is contributed by Asia-Pacific (APAC). Most of the consumer electronics are produced in China, India, South Korea, Japan, and Taiwan, which creates a high demand for these components. Similarly, the vast population of the region necessitates their usage for government purposes. For instance, when the Indian government had the Aadhaar cards made, everybody’s fingerprints were scanned and incorporated into their individual citizen profiles.

Browse detailed report - Fingerprint Sensors Market Analysis and Demand Forecast Report

Hence, with the changing security and identity authentication requirements, the usage of fingerprint sensors will grow.