Biometric Sensors MarketStatistics - 2030
The global biometric sensors market size is expected to reach $3.31 billion by 2030 from $1.16 billion in 2020, growing at a CAGR of 11.8% from 2021 to 2030.
A biometric sensor converts a biometric characteristic of an individual, such as face, fingerprint, voice, and others, into an electrical signal. Such sensors are used to identify, verify, and authenticate identity via biometric technology with the help of specialized hardware. Biometric sensors are compact in design; therefore, they can be easily installed in devices. The biometric sensor technology is a breakthrough technology that helps solve various security-related issues from different domains.
Biometric sensors offer benefits of identification and verification of behavioral and physiological traits of a person with the help of biometric technology. These sensors can measure temperature, speed, pressure, and others. Moreover, they act as an interface between the real world and the system. Biometrics sensors used in a high definition camera for facial recognition or in a microphone for voice capture. Some biometrics are specially designed to scan the vein patterns under skin. Biometric sensors are an essential feature of identity technology.
Biometric sensors or access control systems are classified into two types such as physiological biometrics and behavioral biometrics. Physiological biometrics mainly includes face recognition, fingerprint, hand geometry, Iris recognition, and DNA whereas behavioral biometrics includes keystroke, signature and voice recognition.
The global biometric sensors market size is anticipated to witness significant growth during the forecast period. Factors, such as rise in number of identity threats and emergence of touch less fingerprint technology and growth in popularity of wearable devices, such as smart watches and smart bands drive the biometric sensors market growth. Demand for smart gadgets, such as smart watches and smart bands, is increasing rapidly, and in turn increases the demand for biometric security sensors.
However, high cost of biometric technology and easy availability of alternative cheap non-biometric technologies is a major restraint to the global market growth. In addition, the growing concerns related to privacy breaches are expected to create opportunities for the biometric sensors industry.
The biometric sensors market share is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into capacitive sensors, optical sensors, thermal sensors, ultrasound sensors, and electric field sensors. On the basis of application, it is segmented into voice scan, finger scan, hand scan, facial scan, iris scan, vein scan, and others.
On the basis of region, the biometric sensors market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).North America is dominating the market, due to increase in demand for smart weapons, and most of the smart weapons use biometric sensors technology, which further stimulates the demand for biometric sensors in the market.
By Type
Optical sensor is expected to secure leading position during forecast period.
Top Impacting Factors
Prominent factors that impact the biometric sensors market growth include 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. However, high cost of biometric technology and easy availability of alternative cheap non-biometric technologies restrict the market growth. On the contrary, the rise in concerns related to privacy breaches is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the biometric sensors market during the forecast period.
Competition Analysis
The major biometric sensors market players, such as CROSSMATCH Technologies Inc., Fujitsu, Fulcrum Biometrics, Thales Group, IDEX ASA, Infineon, NEC Corporation, Precise Biometrics AB, SAFRAN S.A. and ZKTECO Inc., are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications.
By Application
Finger Scan will gain a leading position during forecast period.
Covid-19 Impact Analysis
The COVID-19 pandemic has significantly impacted global economies, resulting in workforce & travel restrictions, supply chain & production disruptions, and reduced demand & spending across many sectors. Sudden decline in infrastructure development is expected to hamper the market growth.
The biometric sensors market revenue witnessed a decline in its growth rate, owing to delayed projects. Furthermore, market players are investing in R&D of biometric sensors, owing to increase in governmental initiatives globally. Therefore, the biometric sensors market size is anticipated to gain momentum by the end of 2022.
The slowdown in productions by OEMs and reduction in demand for biometric devices has slightly pulled down the market for sensors. Shortages of components and materials have significantly impacted the global supply chains. In addition, reductions in various capital budgets and delay in planned projects in various industries have hampered the global economy.
By Region
Asia-Pacific would exhibit the highest CAGR of 13.2% during 2021-2030
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
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Analyst Review
Biometric sensors hold high potential in the market. The current business scenario experiences rapid development in smart infrastructure leading to readiness to adopt sensors, particularly in the developed and developing regions such as North America, Asia-Pacific, and Europe. Companies in this industry adopt various innovative techniques to provide customers with advanced and innovative features.
Asia-Pacific is the leading supplier of raw materials for manufacturing of biometric systems across the globe. Also, Asia-Pacific witnessed a wide-scale adoption of these systems in the recent years, owing to increase in demand for biometric sensors across various sectors such as retail, hospitals, automotive, and manufacturing. Companies operating in the biometric sensors market have a robust supply chain network owing to the high penetration of local players in this market.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch, agreement, collaboration, and partnership are expected to be the prominent strategies adopted by the biometric sensors market players.
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