Global Biometric Sensors Market Industry Trends, Estimation & Forecast, 2018 - 2025

Global financial movements are becoming digitalized, several banks are employing novel technologies such as next-generation identification measures, to battle fraud, make transactions more safe and secure, and to improve the customer experience. In order to authorize monetary transactions, business clients simply place a finger inside a small desktop scanner than entering PINs or passwords. This technology is considered highly protected, owing to the distinctiveness of the individual’s finger prints. The application of fingerprint readers along with the biometric lock system in luxury hotels is one of the driving factors for the market. Government organizations are also opting for biometric systems for better management of employee attendance, which is another prime reason for the growth of the market.

Biometrics technology is being increasingly acknowledged for e-passport programs and to keep a check on illegal migrations. Government organizations and defense services are further expected to experience a sharp rise in the demand for technology. In addition, it is used in banking and finance to increase efficiency and to prevent fraud. This is further likely to positively influence the growth of the market.

The global biometric sensors market was valued at US$ 969.4 million in 2018 and is expected to witness a CAGR of 8.3% during the forecast period (2018 – 2025).

To request a sample copy or view summary of this report, click the link below:

http://www.digitsnmarkets.com/sample/4219-biometric-sensors-market

The smartphone biometric sensors market is segmented into palm, eye, face, vein, and voice recognition technologies. Face, iris and voice recognition technologies are expected to have the highest growth potential with the majority of the industry dominated by the fingerprint sensors segment. The fingerprint segment share is attributed to their easy usability, reasonable performance, low costs, and well-developed supply chain.

Based on geography, the Asia-Pacific region garnered a major share in 2018. Contributing to more than one-third of the total market. Increasing technological advancements in the region have led to the growth. At the same time, the LAMEA region would cite the fastest CAGR of 15.3% during the estimated period. Rapid developments in building infrastructures have prompted the growth. North America is expected to gain major traction over the forecast period, due to the increasing application of biometric sensors in different industries for security in the U.S. and Canada. However, the high cost of installation and maintenance of the whole biometric system are some of the restraining factors for the market.

Key market players such as Infineon Technologies launched a FIDO-certified Bluetooth low energy design for wireless authentication tokens through which consumers can securely authenticate their online activities on mobile. Crossmatch biometric authentication platform was awarded Complementary Solution Provider of the Year by Temenos Group.

Contact Us :
Digits ‘N’ Markets
410 E Santa Clara Street, Unit #762
San Jose, CA 95113
Phone :+1 408-622-0123
Email: sales@digitsnmarkets.com
Website:- www.digitsnmarkets.com

About Digits N Markets:
Digits N Markets has a vast repository of latest market research on trending topics, niche company profiles, market size and other relevant data released by renowned publishers. We have access to the database related to niche markets and trending topics in various industries. We also update the data regularly to provide recent statistics to the client. Recent data and reports will be featured on our websites and clients will be able to access the same. Our clients will be able to benefit from qualitative & quantitative insights in the report which will support them in taking concrete business decisions.

This release was published on openPR.