Biometric Sensors Market Revenue & Cost Structure Forecast of 3M, Crossmatch Technologies, Idex Asa, Infineon Technologies Ag, Fulcrum Biometrics, Safran, Precise Biometrics Ab, NEC Corporation, Zkteco and Suprema

The Global Biometric Sensors Market was valued at US$ 802.2 million in 2015 and is projected to expand at a CAGR of 8.3% during the forecast period (2017–2025). Growing proliferation towards smart phones, watches, and other smart wearable with features like fingerprint scan, iris recognition, palm scan and face identification are expected to be major factors driving growth of the global biometric sensors market over the foreseeable future.

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The demand for biometric sensors is anticipated to surge over the forecast period, as application of biometric authentication is expanding to luxury cars for better driving experiences. Increasing demand for advanced security measures is also contributing to the positive development of the market. Growing digitalization and financial institutions are focusing on biometric alternatives for authenticating mobile bankers that stabilizes both simplicity and security. Increasing application of biometric technology in education centers, commercial centers, offices, and research institutes are stimulating the growth of the market over the forecast period.

The growth in the revenue of the global biometric sensors market is attributable to growing application of biometric technology in hospitals and research laboratories. Growing use of biometric technology in diverse sectors, which includes airports, business centers, defense academies and banking institutes coupled with rising application of facial and finger scan solutions for residential security purposes are key aspects fueling the demand for biometric sensors globally.

Key takeaways of the Biometric Sensors Market:

- The global biometric sensors market is estimated to increase at a CAGR of 8.3% over the forecast period (2017–2025) as there exists a huge demanding market especially in North America and Europe.

- The Optical sensors dominates the market in the product segment, owing to its accuracy, detectability, and experimental simplicity.

- Fingerprint scan dominates the market in the application segment, owing to increasing application across different end-use industry.

- Consumer electronics, banking, and financial sector are the major end users of biometric sensors market, owing to the high demand for fingerprint scan, palm scan, and gesture recognition features.

- Some of the major players involved in global biometric sensors market are 3M, Crossmatch Technologies Inc., Idex Asa, Infineon Technologies Ag, Fulcrum Biometrics, Safran, Precise Biometrics Ab, NEC Corporation, Zkteco Inc. and Suprema Inc.

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Detailed Segmentation of Biometric Sensors Market:

Global Biometric Sensors Market, By Product Type:
-Capacitive Sensors
-Optical Sensors
-Thermal Sensors
-Ultrasound Sensors
-Electric Field Sensors

Global Biometric Sensors Market, By Application:
-Voice Scan
-Finger Scan
-Hand Scan
-Facial Scan
-Iris Scan
-Middleware
-Vein Scan

Global Biometric Sensors Market, By End Use Industry:
-Consumer electronics
-Automotive
-Hospital
-Commercial Center
-Educational Hubs
-Research labs
-Banking and Financial sector

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This release was published on openPR.