The global Biometric Sensors market is anticipated to grow at a significant CAGR of around 11.7% during the forecast period. The rise in adoption of biometric-based identity and authentication methods by several end-user industries attributed to rising security threats and incidences of duplicate identity cases are factors that drive global biometric sensors market growth. For instance, in January 2022, Samsung launched new fingerprint security IC (integrated circuit) S3B512C with enhanced security features. The new payment security is EMVCo and Common Criteria Evaluation Assurance Level (CC EAL) 6+ certified and performs in line with Mastercard’s latest Biometric Evaluation Plan Summary (BEPS) with several specifications for biometric payment cards. The IC combines a fingerprint sensor, Secure Element (SE), and Secure Processor, that ads an extra layer of authentication and security in payment cards. The high cost of biometric sensors and technology and easy availability of alternative cheap non-biometric technologies are hampering the market to grow. Furthermore, the increasing privacy breaches related concerns are anticipated to become opportunities for the biometrics sensor market.
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The biometric sensors in COVID-19 were impacted due to a slowdown in production by OEMs and the reduction in demand for biometric devices has slightly pulled down. Furthermore, several shortages of components have significantly that is impacted the supply chain of the biometrics sensor market. In addition, the adoption of biometric sensors in the healthcare sector has increased due to the prevention taken by the government to avoid direct contact.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Global Biometric Sensors Market Report by Segment
By Type
- Capacitive Sensors
- Optical Sensors
- Thermal Sensors
- Ultrasound Sensor
- Electric Field Sensors
By Application
- Voice Scan
- Finger Scan
- Hand Scan
- Facial Scan
- Iris Scan
- Vein Scan
- Others
By End-User
- Consumer Electronics
- Travel and Immigration
- Government and Law Enforcement
- Banking & Finance
- Commercial
- Automotive
- Smart Homes
- Other
Global Biometric Sensor Market Report by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Biometric Sensors market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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