Increased competition and a fragmented market are leading to potential volatility in the fingerprint sensor market, according to a research group.In its latest report on the sector, Technavio said the presence of numerous multinational vendors and small regional players are complicating the market.Large vendors in the market are acquiring small vendors to expand their product portfolio and increase their market share.This means that to survive and succeed in this intensely competitive environment, vendors will have to differentiate their product and service offerings through unique selling propositions, funds the report.”Factors such as intense competition, advances in technology, and frequent changes in end-user preferences constitute significant risks for vendors in the market,” said says Amrita Choudhury, lead automation identification systems analyst from Technavio.”Vendors with better financial and technical resources are developing advanced products, which can render competitors' products obsolete and non-competitive before they are launched or are able to recover R&D and commercialization costs. To withstand the intense competition, vendors have to develop new technologies and remain abreast with the emerging technologies that can affect their product lines”.
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