Increasing Security Threat and Privacy Concerns propelling the growth of Biometric Sensors Market
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.
• 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
• Novel Products Such As Graphene Enabled Sensors Present Future Growth Prospects
• Use Of Biometric Sensors In Biometric Driver Assistance Systems
• Consumers Electronics
• Commercial Centers & Buildings
• Medical Research & Lab
• Bank & Finance Service Sector
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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.
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