Fingerprint biometrics market survives COVID-19 scare, FPC advances in two areas
Fingerprint Cards has revealed a customer win in the PC biometrics space and another step forward for its biometric payment card collaboration with Thales. The updates come just as MarketsandMarkets has forecast the global market for fingerprint sensors to grow at a healthy 10.9 percent compound annual growth rate from $3.5 billion this calendar year to $5.8 billion by 2026.
The new Honor MagicBook V14 integrates FPC’s new biometric PC solution.
“I am very pleased with this product launch by HONOR, which demonstrates the positive trend in demand for biometric authentication in consumer and enterprise PCs,” comments Ted Hansson, Senior VP Business Line Mobile at Fingerprints. “Microsoft’s recent decision to allow all their users to completely remove the password from their accounts, in favor of using biometric authentication and authenticator apps, will most likely further accelerate this trend. Fingerprints is poised for continued growth in this segment, providing the perfect way to add convenient and secure authentication to PCs.”
The company notes in the announcement that it expects strong fingerprint sensor growth in the PC segment due to higher overall computer sales, and a significant increase in the share of PCs including biometric security.
FPC also confirmed in a Tweet it is providing its biometric technology for payment cards which will be supplied by Thales for issuance by Jordan Kuwait Bank. Thales and FPC have a well-established technology partnership for biometric payment cards. FPC is now involved in 23 bank pilots and 5 commercial card launches.
Market survives COVID-19 scare
Both consumer electronic devices like PCs, smartphones and tablets, and biometric smartcards such as for contactless payments are among the key growth areas for fingerprint sensors identified by MarketsandMarkets.
The new ‘Fingerprint Sensor Market with Covid–19 Impact by Technology (Capacitive, Optical, Thermal and, Ultrasonic), Type (Area, Touch, and Swipe), Sensor Technology, Product, End–Use Application, and Region – Global Forecast to 2026’ report suggests that despite manufacturing disruptions hitting supply lines, the pandemic has had a low overall impact on the market. The market areas affected by shutdowns are still expected to grow over the forecast period.
Ultrasonic fingerprint sensors will have the highest growth rate among sensor types, according to the report, while the Asia-Pacific region is expected to have the highest growth among regions.