There is a multitude of applications where fingerprint sensors have a natural place. In any device with a pin or a password it can be used to enhance security and provide a more user friendly experience. There are several strong driving forces of demand for fingerprint sensors: password and PIN replacement, mobile payment, personalization, access control, and increased security. On the back of these strong drivers, fingerprint sensors are being validated by actual adoption by virtually every tier one mobile OEM. In 2015 there were approximately 500 million handsets shipped with fingerprint sensors with predictions of over 1 billion units per year in 2018 by the leading research firms. Card players such as MasterCard have also announced a strong interest in fingerprint sensors. In addition the market is seeing the introduction of industry standards set by players such as FIDO.
IDEX’s immediate focus is on the mobile market, which has continued to accelerate since the launch of Apple Touch ID and Samsung Galaxy and Note fingerprint features , and more recently the introduction of mobile payment applications such as ApplePay, PayPal and AliPay. The market is already huge, and expected to grow at a high pace going forward.
Secondly, IDEX has a very strong value proposition to the ID and smart card market with it’s flexible low cost technology. IDEX is at the frontier of this market, and sees huge potential.