Market overview
The Optical Fingerprint Sensor provides the user easy access to personal data, emails, payments, locations etc., with full security. It is used in portals for attendance due to the fast record keeping. They are cost-effective compared to other security authentication, which increases the market's growth. The demand for the fingerprint sensor-based biometric system in law enforcement agencies to increase security is a rising factor for the market. It is also used in goverment and private organizations for the data of working hours of service for more productivity, increasing the market's production.
Demand for optical fingerprints sensors in mobile phones and other electronics and extensive use of biometrics in the smartphone industry are the key drivers for the market. In 2017-2023 the market is expected to showcase a high growth rate increase with a CAGR of 12%.
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The advancement in technologies and growing industrialization act as a push for the market. Due to the growing security, almost all the technologies are manufactured with optical fingerprint sensors. Fingerprint sensors for unlocking phones, apps, UPIs will register a tremendous growth rate shortly. Continuous manufacture of the addition of newer technologies in phones computers will also fuel the Optical Fingerprint Sensor Industry. Emergency touch sensors and the increase of security threats in buildings are also driving factors for the market. It is used in shops, offices, house buildings for convenience. However, it also has a certain limitation that can pause the market growth with all the driving factors.
Market Segments
Components, technology and application are the segments of the market. Based on the segment components, the Optical Fingerprint Sensor Market is divided into the lens, photodiodes, cover plates, charged-coupled devices, complementary metal-oxide semiconductors and others. The technology segment is bifurcated into electro-optical imaging, multispectral imaging and others. Based on the segment application, the market is segregated into consumer electronics such as smartphones, laptops, defense and military, banking and finance, government agencies, telecom, healthcare and others.
Regional Analysis
The Optical Fingerprint Sensor Market is studied in North America, Europe and Asia pacific. The extensive use of smartphones in china, japan south Korea increases the growth of the market in the region. The Optical Fingerprint Sensor also is used by other parts of the world due to the security purpose in the offices also is a driving factor for the market.
Industry News
The new one plus NORD CE 2 will offer a side-mounted fingerprint scanner and other specifications, making it a tremendous smartphone revealed by the company.
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