Biometric Sensor Market 2020-2030: Business Development Strategies by Industry Giants: 3M Cogent, Crossmatch Technologies Inc., Safran, NEC Corp, Fujitsu, Fulcrum Biometrics, Precise Biometrics Ab, Infineon Technologies AG, IDEX ASA, and ZKTECO Inc.
The key market players analyzed in the report include Crossmatch Technologies Inc., Safran, Fulcrum Biometrics, Precise Biometrics Ab, NEC Corporation, IDEX ASA, ZKTECO Inc., Fujitsu, 3M Cogent, and Infineon Technologies AG. Incorporating a number of exclusive strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others, these market players have become able to heighten their stand in the industry.
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Key Benefits for Biometric Sensor Market:
o Comprehensive analysis of the current and future trends in the biometric sensor market are provided.
o The report offers a competitive scenario of the market and elucidates on the growth trends, driving factors, scope, opportunities, and challenges.
o The report includes a comprehensive analysis of the key segments to provide insights on the biometric sensor market.
o Porters Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the competitive structure of the market to devise effective growth strategies and facilitate better decision-making
Value chain analysis provides key inputs on the role of stakeholders involved at various stages.
Biometric sensor market is segmented based on biometric sensor type, application, end users, and geography.
The biometrics sensors market is segmented based on different types such as capacitive sensors, ultra sound sensors, optical sensors, thermal sensors, and electric field sensors. Optical sensors are used among large number of applications as compared to other types of sensors available in the market. Based on the application, the biometric sensor market is further categorized into voice scan, finger scan, hand scan, facial scan, iris scan, and vein scan. The end-users for biometric sensors include consumer electronics, commercial centers & buildings, medical research & lab, bank & finance service sector, and others. The biometric sensor market has been analyzed on the basis of regions, which include North America (U.S., Rest of North America), Europe (UK, Germany, France, Italy, Russia, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, Taiwan, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
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Rise in number of identity threats & emergence of touchless fingerprint technology and growth in popularity of wearable devices such as smart watches & smart bands, using biometric sensors fuel the growth of the global biometric sensor market. On the other hand, high cost of biometric technology and easy availability of alternative cheap non-biometric technologies restrain the growth to some extent.
The optical sensors segment to retain its dominance till 2025-
Based on type, the optical sensors segment contributed to more than one-third of the total market share in 2018 and is expected to dominate throughout the forecast period. High-end developments on optical sensors have spurred the growth of the segment. The thermal sensors segment, on the other hand, is projected to grow at the fastest CAGR of 14.6% throughout the study period. Increasing R&D for thermal sensors has worked as the major driving factor for the growth.
The finger scan segment held the largest share in 2017-
Based on application, the finger scan segment accounted for nearly two-fifths of the total market revenue in 2018 and is anticipated to lead the trail by 2025. Increasing security concerns propel the growth of the segment. Simultaneously, the voice scan segment would showcase the fastest CAGR of 14.6% during the study period. Rising demand for biometric sensors in consumer electronics has driven the growth.
COVID-19 Pandemic disrupted the entire world and affected many industries.
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Asia-Pacific to maintain its lion's share-
Based on geography, the Asia-Pacific region garnered the major share in 2017, 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.
Biometric Sensor Market Segments:
The market is segmented on the basis of type, application, end users, and geography
o Capacitive Sensors
o Ultra Sound Sensors
o Optical Sensors
o Thermal Sensors
o Electric Field Sensors
o Voice Scan
o Finger Scan
o Hand Scan
o Facial Scan
o Iris Scan
o Vein scan
o North America
o Rest of Europe
o South Korea
o Rest of Asia-pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
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