The global biometric sensor market size is expected to reach USD 1.83 billion by 2024, according to a new report by Grand View Research, Inc. Technological proliferation and increasing demand in commercial buildings, consumer electronics, and banking applications are expected to drive the market growth.
The
development of advanced multimodal techniques for biometric authentication and
recognition techniques, which employ verification of more than one biometrics
enabling increased security levels across the end-use applications, is driving
industry growth. The use of biometric Sensor in consumer electronic devices,
such as smartphones and tablets, has resulted in an exponential increase in the
sensor shipments.
End-users
are increasingly adopting the advanced sensing and authentication technologies
aimed at restricting unauthorized access and increasing security. Advanced
recognition techniques such as DNA matching as well as vein, iris, and retina
recognition have been increasingly adopted across distinct end-use verticals
over the past few years.
However,
concerns raised over cultural barriers and issues, such as the prevention of
misuse of an individual’s biometrics, may pose a challenge to the market growth
over the next eight years.
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Further key
findings from the report suggest:
- Optical, capacitive,
thermal, ultrasound, and electric field Sensor are extensively used in
capturing an individual’s biometrics. Optical Sensor accounted for over
40% of the industry share and are expected to sustain their supremacy over
the forecast period. Fingerprint scanners used in commercial buildings and
offices for access control and log management extensively employ optical
Sensor for capturing, recognizing, and verifying fingerprints.
- The finger scan application
segment acquired a significant share of the industry, accounting for over
40% of the overall share and is expected to maintain its dominance over
the forecast period. The hand and face scan applications are increasingly
gaining prominence, owing to the enhanced security features that they
offer.
- The rising application of
fingerprint and facial recognition and authentication as biometric
technology in devices such as smartphones, tablets, and laptops, along with
other smart handheld devices, have led to the biometric sensor market
proliferation. The consumer electronics segment dominated the overall
end-use industry accounting for over 25% of the market volume share in
2015.
- The rapidly declining prices
of such sensing components to be used in smartphones and tablets are
expected to lead to a gradual decrease in the revenue generated over the
forecast period. The entry of sensor and component manufacturers from the
Asia Pacific countries, such as China and Taiwan, has led to increased
competition in the industry, resulting in an overall decline in the sensor
prices.
- Asia Pacific dominated the
global industry, contributing over 35% of the market revenue in 2015. The
presence of key sensor and consumer electronics vendors in the region has
led the region to hold a major share in the biometric Sensor industry.
- Key vendors include 3M
Company, Crossmatch, NEC Corporation, IDEX ASA, and ZKTeco Inc.
Manufacturers are offering technologically advanced and distinguished
products and are adopting innovative distribution strategies, such as
e-commerce retailing apart from directly supplying to the end-use
industries.
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Grand View Research has segmented
the global biometric sensor market on the basis of product, application,
end-use and region:
Biometric Sensor
Product Outlook (Volume, Million Units; Revenue, USD Million; 2015 - 2024)
- Capacitive Sensor
- Optical Sensor
- Thermal Sensor
- Ultrasound Sensor
- Electric field Sensor
Biometric Sensor
Application Outlook (Volume, Million Units; Revenue, USD Million; 2015 - 2024)
- Voice scan
- Finger scan
- Hand scan
- Facial scan
- Iris scan
- Vein scan
- Others
Biometric Sensor
End-Use Outlook (Volume, Million Units; Revenue, USD Million; 2015 - 2024)
- Consumer electronics
- Commercial buildings
- Defense
- Medical
- BFSI
- Others
Biometric Sensor
Regional Outlook (Volume, Million Units; Revenue, USD Million; 2015 - 2024)
- North America
- Europe
- Asia Pacific
- RoW
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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