Biometric sensors market

Biometric Sensors Market, by Product Type (Capacitive Sensors, Optical Sensors, Thermal Sensors, Ultrasound Sensors, and Electric Field Sensors), by Application (Voice Scan, Finger Scan, Hand Scan, Facial Scan, Iris Scan, Middleware, Vein Scan, and Others ), by End-Use Industry ( Consumer Electronics, Smart Phones, Smart Watches, Other Smart Gadgets, Automotive, Hospital, Commercial Center, Educational Hubs, Research labs, Banking and Financial sector, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jun 2022
CMI754
533 Pages
Excel & Pdf
Semiconductors

Summary

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.

Recent Developments:

In March 2022, Cognitec Systems partnered with SALTO Group, a company that works in face recognition. Cognitec Systems will expand its biometric market by working on new technologies with SALTO group. This partnership will help SALTO to strengthen its market reach along building its research and development team.
In January 2022, Vivo launched IQOO 9 Pro the first smartphone that enabled super-fast fingerprint enrollment process that unlocks the phone within 0.2 sec
In September 2021, SaaS-based (Software as a service) Automated Biometric Identification System (ABIS) was launched by IDEMIA, a company that provides identity-related security services. The service can be used for fingerprint analysis, documentation and comparison purpose.

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 sensors 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.

Restraint:

High cost of biometric technology is the restraining factor for the growth of biometric sensors 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 sensors market.

Global biometric sensors 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 sensors market also faced slower growth in the pandemic period.

North America held a dominant position in the global biometric sensors market in 2021

Statistics:

North America held dominant position in the global biometric sensors market in 2021, accounting for 33.0% share in terms of volume, followed by Europe and North America, respectively.

Figure 1: Global biometric sensors market Share (%), By Region, 2021

North America is expected to account for the largest market share of the global biometric sensors 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.

Biometric Sensors Market Report Coverage

Report Coverage	Details
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):	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:	By Product Type: Capacitive Sensors, Optical Sensors, Thermal Sensors, Ultrasound Sensors, and Electric Field Sensors By Application: Voice Scan, Finger Scan, Hand Scan, Facial Scan, Iris Scan, Middleware, Vein Scan, Others By End-Use Industry: Consumer Electronics, Smart Phones, Smart Watches, Other Smart Gadgets, Automotive, Hospital, Commercial Center, Educational Hubs, Research labs, Banking and Financial sector, Others
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.
Growth Drivers:	Growing proliferation towards smartphones, smart watches, and other devices with features such as palm scan, face recognition, and others Rising concerns related to privacy breaches
Restraints & Challenges:	High cost of biometric technology

Voice scan segment is expected to drive the global biometric sensors 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 Sensors Market (US$ Bn) Analysis and Forecast, 2017 - 2030

Global biometric sensors 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 sensors 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.

Table of Content

Table of Contents

*Browse 60 market data tables and 40 figures on "Global Biometric Sensors Market - Global forecast to 2030”.

Segmentation

Detailed Segmentation

- Frequently Asked Questions -

What is the expected market size of the global biometric sensors market in 2030?

Global biometric sensors market is expected to reach US$ 3.6 billion by 2030.

What is the expected compound annual growth rate (CAGR) of the market during the forecast period (2022-2030)?

The Market is expected to witness a CAGR of 11.4% during the forecast period (2022-2030).

What is the primary factor contributing to the growth of the market?

Increasing demand for smart gadgets such as smartphones and smart wearable devices is expected to drive growth of the market.

Based on application type, which segment held the largest market share in the market in 2021?

The finger scan segment held the largest market share among the application segment in 2021.

Which region held the largest market share in the market in 2021?

North America held the largest market share in the market in 2021.

Who are the key players operating in the market?

Key players operating in the 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.