A biometric device is a security identification and authentication system that uses biometric sensors to validate or recognize an individual's identity. Biometric sensors are transducers that turn a person's biometric data, such as fingerprints, face, and voice into an electrical signal. The sensors can measure temperature, pressure, light, or any other type of energy. With the use of biometric technology and specialized hardware biometric sensors can be used for validating and verifying an identity. The biometric sensors help solve numerous problems related to security in different domains such as education, corporate sector, manufacturing, and defense.
Developing technological advancement in wearable consumer electronic gadgets is boosting the application of biometric sensors which senses the body temperature, heart rate, and other major attributes of the individual who is wearing the device. Growing implementation of fingerprint sensors in smartphones drives the growth of the market. Increasing application of biometric sensors in cars for better driving experiences is another driver for biometric sensor market globally. Biometric identity features in luxury cars comprises fingerprint, voice, gesture, and iris recognition, which are some the major attributes fueling the demand for biometric sensors. North America is leading the market, followed by Europe. Proliferation of biometric sensors in educational centers, research laboratory and hospitals is fueling the market. The biometric sensors are often exposed to potential challenges, which may manipulate them compromising the security of the system. These factors hinder the growth of the market over the forecast period. Strategic partnership agreements with raw material suppliers along with merger and acquisition are some of the prime business strategies followed by the companies operating in the biometric sensors market to strengthen foothold in the market globally.
High cost of biometric technology is the restraining factor for the growth of biometric sensor market. Security in organizations such as educational institutes and in manufacturing, and corporate sector have become a top priority. But, rising cost of biometric technology is restricting educational institutes and corporate sector entities with low funds to invest in security. Hence rising cost of biometric technology is the restraining factor for growth of biometric sensor market.
Global biometric sensor market - Impact of Coronavirus (Covid-19) Pandemic
The spread of COVID-19 hampered the global economy severely. Lockdowns were imposed by governments of various countries. The trade between countries halted and this resulted in shortage of components and material for developing biometric technology using biometric sensors, as all the countries across the globe depend on other countries for raw material or any specific component. Due to this, the biometric sensor market also faced slower growth in the pandemic period.
North America held a dominant position in the global biometric sensor market in 2021
North America held dominant position in the global biometric sensor market in 2021, accounting for 33.0% share in terms of volume, followed by Europe and North America, respectively.
Figure 1: Global biometric sensor market Share (%), By Region, 2021
North America is expected to account for the largest market share of the global biometric sensor market during the forecast period because of increased R&D (research and development) operations to develop smart weapons, technological breakthroughs by key players to develop smart weapons, and quick adoption of novel technologies to create precise, dependable, and efficient smart weapons. Most of these smart weapons use biometric technology for their operation, such as a gun smart gun uses fingerprint for unlocking. Hence the demand for biometric sensors in North America is expected to grow significantly in the forecast period.
Asia Pacific region is expected to show significant growth in the forecast period. The countries like India, China, and Indonesia are moving towards e-commerce and virtual payments. All of the e-commerce and banking transactions are done using virtual payment systems such as apple pay and google pay using mobile phones. Hence, security of the smartphones using biometric technology has become the main concern of people across the Asia Pacific region. Hence demand for biometric sensors is expected to accelerate in the forecast period.
|Base Year:||2021||Market Size in 2021:||US$ 1.4 Bn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||11.4%||2030 Value Projection:||US$ 3.6 Bn|
|Geographies covered (27):||
|Companies covered (8):||
3M Cognet, Inc., Crossmatch Technologies Inc., Idex Asa, Infineon Technologies Ag, Fulcrum Biometrics, Safran, Precise Biometrics Ab, NEC Corporation, Zkteco Inc., Suprema Inc., Morpho SA, Daon, Inc., Cognitech Systems, GmbH, IDTECK, and Accu-Time Systems, Inc.
|Restraints & Challenges:||
Voice scan segment is expected to drive the global biometric sensor market growth during the forecast period
Among applications, Voice scan is becoming popular as voice can be used in solving crimes, protecting bank accounts, unlocking cellphones, and for other purposes. Financial sector has started adopting voice scanning as an authentication mode. Instead of passwords, voice scan or recognition allows people to use their voice as passwords. Thus voice scan is trusted biometric authentication method and hence gaining popularity in financial sector.
Figure 2: Global Biometric Sensor Market (US$ Bn) Analysis and Forecast, 2017 - 2030
Global biometric sensor market was valued at US$ 1.4 Bn in 2021 and is expected to reach US$ 3.6 Bn by 2030, growing at a CAGR of 11.4% between 2022 and 2030.
Major players operating in the global biometric sensor market include 3M Cognet, Inc., Crossmatch Technologies Inc., Idex Asa, Infineon Technologies Ag, Fulcrum Biometrics, Safran, Precise Biometrics Ab, NEC Corporation, Zkteco Inc., Suprema Inc., Morpho SA, Daon, Inc., Cognitech Systems, GmbH, IDTECK, and Accu-Time Systems, Inc.
Biometric sensor is a transducer that transforms a biometric treat like voice, fingerprint, face, iris among others of an individual into an electrical signal. The sensors primarily measures as well as delivers pressure, temperature, light, electrical capacity, and speed or other categories of energies. Numerous wearable devices, such as smart bands, smart watches, ear pods, and smart eyeglasses include biometric identification competencies in order to identify a person's biometric characters, which includes blood pressure and heart rate.
The mounting usage of wearable and portable biometric devices is expected to thrust the growth of biometric sensors market over the forecast period. Increasing consumer inclination towards smart phones is also one of the major reasons behind the growth of biometric sensors market globally. Increasing application for in-car-biometric sensors in luxury cars for better driving experiences is boosting growth the growth of biometric sensor market globally. On the security side, biometric identity features in luxury cars comprises fingerprint, voice, gesture, and iris recognition, which is contributing in the positive development of the market. Advantages of using fingerprint scan, iris scan, palm, and facial recognition to safely operate bank lockers is another major growth boosting factor for the biometric sensors market globally.
Key features of the study:
Middle East & Africa
“*” marked represents similar segmentation in other categories in the respective section.