Biometric Sensor Market Overview:
Global Biometric Sensor Market is expected to reach $1.5 billion by 2022, growing at a CAGR of 9.6% from 2016 to 2022. Biometry refers to statistical analysis of the biological data, that is, analysis of physical and behavioral characteristics. Sensors generally calculate electrical capacity, light, pressure, speed, and temperature. These sensors are compact in design, therefore can be installed in devices conveniently. It is a breakthrough technology, which eradicates various security-related issues from different domains. They are specially designed units made to scan and analyze the vein patterns or the unique features in your fingertip, becoming the necessity in the modern world. The global biometric sensor industry is poised to witness significant growth during the forecast period owing to increase in the cyber-attacks and security threats. However, high investment for R&D is projected to hamper the growth of biometric sensor market.
The significant impacting factors include increase in security threat and rise in the demand for biometric sensors analysis in smart gadgets. In the past few years, the dependency on Internet has increased significantly, hence there is a need for better security and authentication methods. Biometric sensors are used in commercialized buildings, banking sectors, medical & research labs, and in smart weapons owing to their advantages.
Biometrics sensors are available in various types such as capacitive sensors in smart phones, optical sensors used in medical & defense equipment, thermal sensors in heat monitoring devices, and electric field sensor in proximity technology. Furthermore, by application, biometric sensors are widely used in finger, eye, hand, facial, and vein scanning devices. Along with these factors, the biometric sensor market is influenced by the newly launched government projects and constant development, thus driving the overall growth of biometric sensor market size. Graphene-enabled biometric sensors and biometric sensors based car driver monitoring systems are recent developments, which are anticipated to create opportunities for the expansion of the biometric sensor market share. However, high cost of R&D is projected to restrain the growth of the biometric sensor market.
The global biometrics sensors market has enormous potential in developing economies in future, as companies are trying to explore the untapped market especially in China and India. Advancement in technology is the main factors to be analyzed by companies. Thus, market players operating in this business can achieve a competitive advantage by providing cost efficient, consistent and scalable sensors. Key companies operating in the biometric sensor market that are included in company profiles are, 3m, Suprema Inc., Crossmatch Technologies Inc., Idex Asa, Infineon Technologies Ag, Fulcrum Biometrics, Safran, Precise Biometrics Ab, Nec Corporation, and Zkteco Inc.
The biometric sensor market is segmented on the basis of biometric sensor type, application, end users, and geography. The biometrics sensors market is segmented based on different types such as capacitive sensors, ultra sound sensors, optical sensors, thermal sensors, and electric field sensors. Optical sensors are used among large number of applications as compared to other types of sensors available in the market. Based on the application, the biometric sensor market is further categorized into voice scan, finger scan, hand scan, facial scan, iris scan, and vein scan. The end-users for biometric sensors include consumer electronics, commercial centres & buildings, medical research & lab, bank & finance service sector, and others. The biometric sensor market has been analysed on the basis of regions, which include North America (U.S., Rest of North America), Europe (UK, France, Germany, Rest of Europe), Asia-Pacific (Japan, China, India, Taiwan, South Korea, Rest of Asia-pacific), and LAMEA (Latin America, Middle East, Africa).
Biometric Sensor: Top Winning Strategies
Prominent strategies adopted by the key players include product launches, acquisitions, agreements, and partnerships to maintain a strong foothold in the biometric sensor market. Key market players such as Infineon Technologies launched a FIDO-certified Bluetooth low energy design for wireless authentication tokens through which consumers can securely authenticate their online activities on mobile. Crossmatch biometric authentication platform was awarded with Complementary Solution Provider of the Year by Temenos Group.
High Growth of Finger Print Scan and Hand Scan
Finger print scan and hand scan are the highly attractive applications, which are anticipated to create new opportunities. Increased demand for smart gadgets with advance biometric sensors technology contributes to the expansion of the biometric sensor market size. Hand sensors are used to monitor pulse rate and finger print sensors are used for authentication and verification purpose. Biometric sensors are also used in medical and R&D sector such as skin texture identification technology.
Increase in Security Threat and Privacy Concerns Drives the Growth of Biometric Sensor Market
In the current modernized digital world, security threats are increasing rapidly. Financial and banking sectors are interconnected via Internet, and the data related to consumers is very confidential and highly prone to cyber-attacks. The percentage of cyber-attacks is increasing at rapid rate, for example, in 2014 cybercrime, cyber espionage, and cyber warfare rate was 62.70%, 28.00%, and 5.30%, respectively.
Cybercrime Rate in 2015
- Comprehensive analysis of the current and future trends in the global biometric sensor market are provided
- The report offers a competitive scenario of the market and elucidates on the growth trends, driving factors, scope, opportunities, and challenges
- The report includes a comprehensive analysis of the key segments to provide insights on the market dynamics
- Porters Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the competitive structure of the market to devise effective growth strategies and facilitate better decision-making
- Value chain analysis provides key inputs on the role of stakeholders involved at various stages
Biometric Sensor Market Key Segmentation
The market is segmented on the basis of type, application, end users, and geography
- Capacitive Sensors
- Ultra Sound Sensors
- Optical Sensors
- Thermal Sensors
- Electric Field Sensors
- Voice Scan
- Finger Scan
- Hand Scan
- Facial Scan
- Iris Scan
- Vein scan
By End User
- Consumers Electronics
- Commercial Centers & Buildings
- Medical Research & Lab
- Bank & Finance Service Sector
- North America
- Rest of North America
- Rest of Europe
- South Korea
- Rest of Asia-pacific
- Latin America
- Middle East