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Global Biometric Sensor Market Report 2023 Competitive Landscape, Growth Rate, Regional Segments And Forecast To 2032 | Major Players Are C3M Company, Crossmatch, Fulcrum Biometrics LLC, NEC Corporation, Precise Biometrics AB
Biometric Sensor Market
The Business Research Company's Biometric Sensor Global Market Report 2023 identifies An increase in the number of identity thefts as the major driver for the Biometric Sensor Market's growth in the forecast period. Identity theft is the theft of personal information, such as social security numbers, bank account numbers, or credit card numbers. Biometrics meet all of the requirements for authentication, non-repudiation, confidentiality, and integrity, which helps in reducing and eradicating identity theft.
The global biometric sensor market size will grow from $2.67 billion in 2022 to $3.09 billion in 2023 at a compound annual growth rate (CAGR) of 15.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size ofn the biometric sensor is expected to grow to $5.54 billion in 2027 at a CAGR of 15.7%.
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Major competitors in the biometric sensor market are 3M Company, Crossmatch, Fulcrum Biometrics LLC, NEC Corporation, Precise Biometrics AB, IDEX ASA, Suprema Inc., ZKTeco Inc., SAFRAN S.A., SUPREMA, Mantra Softech (India) Pvt. Ltd., SparkFun Electronics, BioEnable Technologies Pvt. Ltd., NEXT Biometrics Group ASA, Synaptics Incorporated, HID Global Corporation, Integrated Biometrics, and NITGEN CO.LTD.
A key trend in the Biometric Sensor Market includes Product innovation. Companies in the market are focusing on product innovation and enhanced security measures such as biometric-enabled cards for payments. For instance, in July 2021, Thales Group, a French aerospace company operating in the biometric sensor market, launched the Thales EMV contactless biometric payment card. The contactless biometric card simplifies proximity payments while simultaneously ensuring a high level of privacy and security. A simple and secure personal enrollment method is used to load the user's fingerprint data onto the card, which can be done at home or in a bank branch. The company is amongst the first to offer a contactless biometric card that meets all major payment scheme certification requirements.
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The Biometric Sensor Market is segmented -
By Type: Capacitive Sensors, Optical Sensors, Thermal Sensors, Ultrasound Sensors, Electric Field Sensors
By Application: Voice Scan, Finger Scan, Hand Scan, Facial Scan, Iris Scan, Vein Scan, Other Applications
By End-User: Consumers Electronics, Commercial Centers And Buildings, Medical Research And Lab, Bank And Finance Service Sector, Defense and Security, Other End-User
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Biometric Sensor Market.
The Business Research Company's "Global Biometric Sensor Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Biometric Sensor Market Include:
1. Executive Summary
2. Biometric Sensor Market Characteristics
3. Biometric Sensor Market Trends And Strategies
4. Biometric Sensor Market - Macro Economic Scenario
5. Biometric Sensor Market Size And Growth
……
26. Africa Biometric Sensor Market
27. Biometric Sensor Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Biometric Sensor Market
29. Biometric Sensor Market Future Outlook and Potential Analysis
30. Appendix
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