Allied Market Research published a report, titled, “Biometric Sensors Market by Type (Capacitive Sensors, Optical Sensors, Thermal Sensors, Ultrasound Sensors, and Electric Field Sensors) and Application (Voice Scan, Finger Scan, Hand Scan, Facial Scan, Iris Scan, Vein Scan, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030“. According to the report, the global biometric sensor industry generated $1.16 billion in 2020, and is anticipated to generate $3.31 billion by 2030, witnessing a CAGR of 11.8% from 2021 to 2030.
Prime determinants of growth
Rise in number of identity threats, emergence of touch less fingerprint technology, and growth in popularity of wearable devices, such as smart watches and smart bands drive the growth of the global biometric sensor market. However, high cost of biometric technology and easy availability of alternative cheap non-biometric technologies hinder the market growth. On the other hand, the growing concerns related to privacy breaches presents new opportunities in the coming years.
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The optical sensors segment to maintain its leadership status throughout the forecast period
Based on tire, the optical sensors segment held the highest market share in 2020, accounting for more than one-fourth of the global biometric sensor market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the thermal sensors segment is projected to manifest the highest CAGR of 12.9% from 2021 to 2030, owing to its integration in smart homes initiatives.
The finger scan segment to maintain its lead position during the forecast period
Based on product type, the finger scan segment accounted for the largest share in 2020, contributing to more than one-fourth of the global biometric sensor market, and is projected to maintain its lead position during the forecast period. Several market players are offering finger scan sensors for exhibiting enhanced functionality and accuracy to detect the identity of the person on border security lines and on airports, which in turn, drives the segment growth. However, the iris scan segment is expected to portray the largest CAGR of 14.2% from 2021 to 2030. Various market players are offering advanced iris scan, which acts as a safe identification tool and is the key driver of the segment.
Asia-Pacific, followed by North America, to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global biometric sensor market. Moreover, the same region is expected to witness the fastest CAGR of 13.2% during the forecast period, owing to technological development in the emerging economies.
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Leading Market Players
CROSSMATCH Technologies Inc.
Fujitsu
Fulcrum Biometrics
Thales Group
IDEX ASA
Infineon Technologies
NEC Corporation
Precise Biometrics AB
SAFRAN S.A.
ZKTECO Inc.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global biometric sensors market outlook along with the current trends and future estimations to depict the imminent investment pockets.
- The overall biometric sensors market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and biometric sensors market opportunities with a detailed impact analysis.
- The current biometric sensors market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the biometric sensors market share of key vendors.
- The report includes the market trends and the revenue share of key vendors.
Biometric Sensors Market Report Highlights
| Aspects | Details |
|---|---|
| By Type | Capacitive SensorsOptical SensorsThermal SensorsUltrasound SensorsElectric Field Sensors |
| BY APPLICATION | Voice ScanFinger ScanHand ScanFacial ScanIris ScanVein ScanOthers |
| By Region | North America (U.S., Canada, Mexico)Europe (Germany, France, UK, Italy, Rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)LAMEA (Latin America, Middle East, Africa) |
| By KEY PLAYERS | CROSSMATCH Technologies Inc.FujitsuFulcrum BiometricsThales GroupIDEX ASAInfineon TechnologiesNEC CorporationPrecise Biometrics ABSAFRAN S.A.ZKTECO Inc. |