Global biometric sensor market is projected to witness a CAGR of 11.49% during the forecast period to reach a total market size of US$1,831.088 million by 2023, increasing from US$953.627 million in 2017. A biometric sensor uses a person’s behavioural or physiological characteristics for authentication purposes. These characteristics includes fingerprint, face, keystroke, signature, and DNA among many others. The major factors driving the demand for these sensors are increasing adoption of electronic attendance in workplaces globally, rising smartphone sales, and security concerns leading to the installation of state-of-the-art biometric systems. However, low awareness of these sensors in developing countries might restrict the growth of this market durig the forecast period. Europe held a significant market share owing to continuous development of state-of-the-art security solutions coupled with high adoption of these sensors. The Asia Pacific and South American region are projected to witness impressive growth over the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the value chain of the global biometric sensor market. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are HID Global Corporation, Infineon Technologies AG, Integrated Biometrics, NITGEN CO., LTD., and NEXT Biometrics among others.
The global biometric sensor market has been analyzed through following segments:
By End User Industry
Security and Surveillance
Aerospace and Defense
Middle East and Africa
United Arab Emirates