The growth of the fingerprint sensors market in the banking & finance industry explained

More and more, the growth of the fingerprint sensors market in the banking & finance industry is mainly driven by the rising instances of fraudulence in transaction. The increase in non-cash transactions in the past few years which drives the demand for cards (credit/debit), also impacts the growth of the fingerprint sensors market as, Biometric debit or credit cards provide more security over other methods.

According to Research and Markets, in Asia Pacific (APAC), the growth of the fingerprint sensors market is attributed to the increase in demand for mobile devices, increased government projects in law enforcement, rapid urbanization, growing population, and the increasing disposable income. 

The fingerprint sensors market was valued at 2.94 billion in 2015 and is expected to grow at a CAGR of 18.9% between 2016 and 2022, to reach USD 8.85 billion by 2022, according to Research and Markets.