Press release
Biometric Sensor Market Growing Demand to Boost the Market Growth
These sensors are used for verification, identification, and authentication through biometric technology. The increasing demand for smartphones and the growing application of biometric sensors are major driving factors for the market. Additionally, rising digitalization and initiatives by key market players create lucrative growth opportunities.
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A survey conducted by the Biometrics Institute in June 2021 revealed that 56% of respondents from Europe support strict biometrics laws. The rising popularity of devices with fingerprint sensors has contributed to the expansion of fingerprint sensors.
For example, Samsung smartphones accounted for approximately 77 million units shipped worldwide in the first quarter of 2021, while iPhones accounted for 57 million units. However, the high cost of biometric sensors hinders market growth.
In terms of regional analysis, Asia Pacific is the fastest-growing region and accounted for a major share of the global market in 2021. It is anticipated that Asia Pacific's share will continue to rise steadily over the next decade. The region has become dominant in the biometric sensing market due to the presence of important component manufacturers in countries like Taiwan and China. Various governments have established regulations governing the collection, use, and disposal of private information, but the specifics of these laws vary across regions.
Key market players in the Global Biometric Sensor Market include CROSSMATCH Technologies Inc., Fujitsu, Fulcrum Biometrics, Thales Group, IDEX ASA, Infineon Technologies, NEC Corporation, Precise Biometrics AB, SAFRAN S.A., and ZKTECO Inc.
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Recent developments in the market include Cognitec Systems partnering with face detection specialist SALTO Group in March 2022 to expand their biometric market. Vivo released the first smartphone with a super-fast fingerprint enrollment process that unlocks the phone in 0.2 seconds in January 2022.
The report covers historical data from 2019-2021 and provides revenue forecasts, company rankings, competitive landscape analysis, growth factors, and trends. The market is segmented by type (capacitive sensors, optical sensors, thermal sensors, ultrasound sensors, electric field sensors) and application (voice scan, finger scan, hand scan, facial scan, iris scan, vein scan, others). The regional scope includes North America, Europe, Asia Pacific, Latin America, and the Rest of the World.
The objective of the study is to define market sizes of different segments and countries in recent years and forecast their values for the coming years. The report incorporates both qualitative and quantitative aspects of the industry, including driving factors, challenges, opportunities, competitive landscape, and product offerings of key players.
The global Smart market report answers questions such as:
• What is the market size and forecast of the Global Smart airport Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Smart airport Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Smart airport Market?
• What is the competitive strategic window for opportunities in the Global Smart airport Market?
• What are the technology trends and regulatory frameworks in the Global Smart airport Market?
• What is the market share of the leading players in the Global Smart airport Market?
• What modes and strategic moves are considered favorable for entering the Global Smart airport Market?
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