Press release
Biometric Sensor Market Insights and Future Projections | 2024 To 2033 Key Players 3M Company, Cross Match Technologies Inc., Fulcrum Biometrics LLC, NEC Corporation
Biometric Sensor Market Share
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=6941&type=smp
According to The Business Research Company's, The biometric sensor market size has grown rapidly in recent years. It will grow from $3 billion in 2023 to $3.43 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to rising concerns about security, government initiatives and regulations, integration in consumer electronics, healthcare applications, rise of wearable devices..
The biometric sensor market size is expected to see rapid growth in the next few years. It will grow to $6.24 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to emerging applications in emerging markets, focus on user-friendly and convenient authentication, hospitality and travel industry integration, education sector adoption, demand for contactless authentication. . Major trends in the forecast period include hybrid biometric solutions, smart city initiatives, transparent and explainable ai, integration in healthcare, emphasis on data privacy and security, behavioral biometrics..
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/biometric-sensor-global-market-report
Market Drivers and Trends:
An increase in the number of identity thefts is expected to propel the growth of the biometric sensor market going forward. 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. For instance, in 2021, according to the Identify Theft Resource Centre, a US-based non-profit organization, the total number of data compromises increased by 68% compared to 2020. Further, according to a report by the Federal Trade Commission (FTC), a US-based consumer protection agency, the number of identity theft cases in the US more than doubled in 2020 from 2019. Therefore, an increase in the number of identity thefts is driving the biometric sensor market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
3M Company, Cross Match Technologies Inc., Fulcrum Biometrics LLC, NEC Corporation, Precise Biometrics AB, IDEX ASA, Suprema Inc., ZKTeco Inc., SAFRAN S. A., Mantra Softech Pvt. Ltd., SparkFun Electronics, BioEnable Technologies Pvt. Ltd., NEXT Biometrics Group ASA, Synaptics Incorporated, HID Global Corporation, Integrated Biometrics, NITGEN COLTD, Shenzhen Goodix Technology Co Ltd, Fingerprint Cards AB, Apple Inc., Egis Technology, Qualcomm Incorporated, TDK Corporation, Vkansee Technology Inc., Lumidigm Inc., BIO-key International Inc., M2SYS Technology, Nuance Communications Inc., Fujitsu Limited, SecuGen Corporation
Biometric Sensor Market 2024 Key Insights:
• The biometric sensor market size is expected to see rapid growth in the next few years. It will grow to $6.24 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%.
• The Rising Threat Of Identity Theft A Growing Menace For Biometric Sensors Market
• Pioneering Product Innovation In Biometric Sensors Market
• North America was the largest region in the biometric sensor market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=6941&type=smp
"
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [info@tbrc.info](mailto:info@tbrc.info)
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company ([www.thebusinessresearchcompany.com](http://www.thebusinessresearchcompany.com/)) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Biometric Sensor Market Insights and Future Projections | 2024 To 2033 Key Players 3M Company, Cross Match Technologies Inc., Fulcrum Biometrics LLC, NEC Corporation here
News-ID: 3744290 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Biometric
Global Biometric Service Market Size by Application, Type, and Geography: Foreca …
According to Market Research Intellect, the global Biometric Service market under the Internet, Communication and Technology category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The biometric service market is witnessing rapid growth, fueled by increasing demand for advanced security solutions across various…
Prominent Biometric Cards Market Trend for 2025: Revolutionizing Payment Securit …
What market dynamics are playing a key role in accelerating the growth of the biometric cards market?
The burgeoning expansion of contactless payment systems is anticipated to spur the development of the biometric card market in the future. Contactless payment systems provide a secure means for consumers to purchase goods or services using their debit, credit, or smart cards by exploiting radio frequency identification (RFID) technology or near-field communication (NFC). The…
Prominent Biometric Sensor Market Trend for 2025: Pioneering Product Innovation …
Which drivers are expected to have the greatest impact on the over the biometric sensor market's growth?
The spike in identity theft incidents is predicted to bolster the expansion of the biometric sensor market. Identity theft involves the stolen personal data such as social security numbers, bank account or credit card details. Biometric techniques address all critical aspects of authentication, non-repudiation, confidentiality, and integrity, contributing substantially to curbing and extinguishing identity…
Key Biometric Cards Market Trend for 2025-2034: Revolutionizing Payment Security …
What Is the Future Outlook for the Biometric Cards Market's Size and Growth Rate?
In recent times, the size of the biometric cards market has expanded swiftly. Its growth is anticipated to soar from $13.03 billion in 2024 to reach $15.36 billion in 2025, with a compound annual growth rate (CAGR) of 17.9%. The surging growth during the historical span can be credited to enhanced security requirements, escalating concerns regarding fraud,…
Biometric Workforce Management Market Will Hit Big Revenues In Future | IDEMIA, …
Advance Market Analytics added research publication document on Worldwide Biometric Workforce Management Market breaking major business segments and highlighting wider level geographies to get deep dive analysis on market data. The study is a perfect balance bridging both qualitative and quantitative information of Worldwide Biometric Workforce Management market. The study provides valuable market size data for historical (Volume** & Value) from 2019 to 2022 which is estimated and forecasted till…
Biometric ATM Market Growing Penetration and Adoption of Voice Biometric Solutio …
The global biometric ATM market size is expected to be valued at US$ 1,960.5 million in 2022 and grow at a CAGR of 30.3% over the forecast period. Biometric ATMs are self-service automated teller machines (ATMs), or cash machines, that use a biometric measure to identify customers and allow them to withdraw cash. Biometric authentication may be the only customer identifier used, or it may be used in conjunction with…
