by The Global Swipe Sensors Market primarily deals with sensors used for authentication through fingerprint scanning and other biometrics. Swipe sensors are capable of identifying fingerprints, palm veins, faces or iris patterns to provide secure authentication. Capacitive swipe sensors are the most commonly used type which rely on capacitive sensing technology that detects ridges and valleys on fingerprints at a microscopic level for accurate and fast identification.
The Global Swipe Sensors Market is estimated to be valued at US$ 2.94 BN in 2024 and is expected to exhibit a CAGR of 15% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Swipe Sensors Market are Synaptics Incorporated, Atmel Corporation, Goodix, Idemia, Fingerprint Cards AB, CrucialTec, Shenzhen Goodix Technology, Validity Sensors, Egis Technology, Qualcomm Technologies, Inc, Texas Instruments Incorporated, NXP Semiconductors N.V., TE Connectivity, id3 technologies, and Elliptic Laboratories ASA. Key players are focusing on developing more accurate and affordable swipe sensor solutions to capitalize on the growing demand.
The growing demand for contactless payment methods and incorporation of fingerprint sensors in smartphones and other consumer electronics is driving the Global Swipe Sensors Market. Rapid adoption of e-commerce and digital transactions have increased the need for biometric authentication primarily through fingerprint identification which is fuelling market growth.
The Swipe Sensors Market Demand is witnessing expansion in emerging markets of Asia Pacific and Latin America. Increasing digitization initiatives by governments in countries like India, China, Brazil for services like welfare distribution, healthcare and education relying on biometric identification is augmenting the adoption of swipe sensors.
Market key trends
The incorporation of Artificial Intelligence (AI) and Machine Learning (ML) capabilities is one of the key trends in the Global Swipe Sensors Market. AI and ML algorithms are helping improve the accuracy of swipe sensors by analyzing multiple biometric patterns. This is benefiting applications in law enforcement, banking and border security that require high precision in biometric matching.
Porter’s Analysis
Threat of new entrants: Swipe sensors need high investment for manufacturing and requirement of robust technology. This creates entry barriers for new players.
Bargaining power of buyers: Buyers have bargaining power due to presence of several established players offering swipe sensors. Buyers can choose from various options as per their requirements and price.
Bargaining power of suppliers: There are many suppliers for components required for manufacture of swipe sensors. This reduces their bargaining power against manufacturers.
Threat of new substitutes: Alternatives like iris recognition, fingerprint scanning exist but swipe sensors are preferred for user convenience and low cost. Substitutes pose low threat.
Competitive rivalry: Being a growing market, competition is intense. Players differentiate through innovations in security, speed and other features to gain market share.
Geographical Regions
North America dominated the global swipe sensors market in terms of value in 2024 due to high demand from payment terminals, smartphones and laptops industries. Biometric security awareness coupled with technology advancements increased adoption of swipe sensors.
Asia Pacific is projected to be the fastest growing region during the forecast period. Rising disposable incomes, increasing population and rapid urbanization are contributing to demand growth from developing nations like China and India. Various government initiatives for e-governance and digitization are supporting regional market expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
