Europe Fingerprint Sensor Market Size

Europe Fingerprint Sensor Market Analysis

The Europe fingerprint sensor market is expected to register a CAGR of 1.44% during the forecast period (2020 - 2025). The advancements in sensor technology are expected to drive the fingerprint sensors market's development over the subsequent few years in the region. For instance, a new peculiarity of in-display finger sensors leveraged by smartphone makers is expected to encourage smartphone sales in the future years. The growing need for smartphones is anticipated to drive market growth in the coming years.

• Germany has one of the world's biggest economies, and the country is growing gradually in fingerprint sensor technology. The terrorist attacks from the last decade in the country highlighted the need for increased security and safety on Germany's streets. A significant upgrade of the security is already underway in the country, and it acts as a driving factor for the fingerprint sensors market in the region.
• Moreover, the increasing focus on consumer safety can provide opportunities for fingerprint technology. For instance, in 2019, TfL and Uber were both under pressure to guarantee rider safety after Uber drivers in the United Kingdom and the United States were accused of assaulting passengers in transit. In light of such instances, there is a possibility that Uber will be required to force drivers to scan their fingerprints or faces to continue operating in the region.
• In France, various initiatives by the government and similar institutions to augment technology efforts have funded the efforts made by the players, universities, or research groups, which is expected to boost the market throughout the forecast period. Some of the region's prominent players are entering strategic partnerships that allow them to develop the technology further, thereby fueling the demand for the technology.
• Further, various initiatives by the government and similar institutions, in order to augment its efforts in the fields of technology, have funded the efforts made by the players, universities, or research groups, which is expected to boost the market throughout the forecast period. The EU General Data Protection and Regulation (GDPR) is one such initiative by the European government that focuses on data privacy, thereby giving rise to the fingerprint module manufacturers' opportunity to tap the market by providing better and safer solutions.
• The outbreak of COVID-19 led multiple manufacturing facilities of players to shut down. The semiconductor industry is declining, leading to a lowering in the fingerprint sensors market. This also translates into a snowballing effect on the fingerprint sensor market, leading to lower research expenditure related to fingerprint sensors.