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Increasing Security Threat and Privacy Concerns propelling the growth of Biometric Sensors Market

01-11-2019 06:44 PM CET | IT, New Media & Software

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Increasing Security Threat and Privacy Concerns propelling

Sensors generally calculate electrical capacity, light, pressure, speed, and temperature. These sensors are compact in design, therefore can be installed in devices conveniently. It is a breakthrough technology, which eradicates various security-related issues from different domains.

The significant impacting factors include increase in security threat and rise in the demand for biometric sensors analysis in smart gadgets. In the past few years, the dependency on Internet has increased significantly, hence there is a need for better security and authentication methods. Biometric sensors are used in commercialized buildings, banking sectors, medical & research labs, and in smart weapons owing to their advantages.

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Graphene-enabled biometric sensors and biometric sensors based car driver monitoring systems are recent developments, which are anticipated to create opportunities for the expansion of the biometric sensor market share.

By types, optical sensors dominated the market in 2015. However, thermal sensor is estimated to witness the highest growth rate owing to increase in demand for temperature sensors among industrial end users, electronic devices, and developing automotive industry in emerging markets.

In application segment, finger scan held over 35% share in 2015 due to increased threat of cyber-attacks and security concerns. However, voice scan is expected to witness highest growth rate of 11.3% owing to rise in the demand for biometric sensors in consumer electronics and in smart gadgets for voice recognition.

Asia-Pacific dominated the market in 2015 by accounting over 35% of the total market revenue, and is expected to maintain its dominance, thus creating new opportunities constantly. Some of the Asian Banks have introduced fingerprint-based authentication feature. Thus, demand for biometric sensors is expected to surge in the future.

Growth Drivers:
• Increasing Security Threat and Privacy Concerns
• Increasing Demand of Smart Gadgets with Biometric Sensors
• Government Projects and Constant Development in Research and Development of Biometrics
• Increasing Demand of Biometric Sensors in Medical and defense Sector

Opportunities:
• Novel Products Such As Graphene Enabled Sensors Present Future Growth Prospects
• Use Of Biometric Sensors In Biometric Driver Assistance Systems

Industry End-user:
• Consumers Electronics
• Commercial Centers & Buildings
• Medical Research & Lab
• Bank & Finance Service Sector
• Others

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Key companies operating in the biometric sensor market that are included in company profiles are, 3m, Suprema Inc., Crossmatch Technologies Inc., Idex Asa, Infineon Technologies Ag, Fulcrum Biometrics, Safran, Precise Biometrics Ab, Nec Corporation, and Zkteco Inc.

About Allied Market Research

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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