According to The Business Research Company’s Biometric Sensor, 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.
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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..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.
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The biometric sensor market covered in this report is segmented –
1) Biometric Sensor Market By Type: Capacitive Sensors, Optical Sensors, Thermal Sensors, Ultrasound Sensors, Electric Field Sensors
2) Biometric Sensor Market By Application: Voice Scan, Finger Scan, Hand Scan, Facial Scan, Iris Scan, Vein Scan, Other Applications
3) Biometric Sensor Market By End-User: Consumers Electronics, Commercial Centers And Buildings, Medical Research And Lab, Bank And Finance Service Sector, Defense and Security, Other End-Users
Product innovation is a key trend gaining popularity in the biometric sensor market. 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.
The biometric sensor market report table of contents includes:
1. Executive Summary
2. Biometric Sensor Market Characteristics
3. Biometric Sensor Market Trends And Strategies
4. Biometric Sensor Market - Macro Economic Scenario
5. Global Biometric Sensor Market Size and Growth
........
31. Global Biometric Sensor Market Competitive Benchmarking
32. Global Biometric Sensor Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Biometric Sensor Market
34. Biometric Sensor Market Future Outlook and Potential Analysis
35. Appendix
Read Related Reports:
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https://www.thebusinessresearchcompany.com/report/fingerprint-sensor-global-market-report
https://www.thebusinessresearchcompany.com/report/contactless-biometrics-global-market-report
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COVID-19 Impact Analysis on Biometric Sensor Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2019-2027.
The report encompasses data regarding market share and recent developments by key players.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Biometric Sensor include Crossmatch, 3M Company, NEC Corporation, Fulcrum Biometrics LLC, AB, IDEX ASA, Precise Biometrics, Suprema Inc., and ZKTeco Inc..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Biometric Sensor Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/biometric-sensor-market/download-sampleMarket SegmentationThe broad Biometric Sensor has been sub-grouped into the Type, Application and Region.
The report studies these subsets with respect to the geographical segmentation.
The global Biometric Sensor Market was appreciated at US$ 810.9 million in the year 2015 and is anticipated to reach USD 1.83 billion by 2024.
The substantial growth in the acceptance of such cutting-edge confirmation and appreciation arrangements in smartphones and tablets has steered to the propagation of its demand in the end use sector of consumer electronics.The biometric sensors market on the source of Type of End Use could span Banking Financial Service Insurance [BFSI], Defense, Consumer Electronics, Medicinal, Commercial Buildings.
It is responsible for more than 30% stake of the market income and estimated to develop progressively above the prediction period.Request a Free Sample Copy of Biometric Sensor Market Report @ https://www.millioninsights.com/industry-reports/biometric-sensor-market/request-sampleThe subdivision of consumer electronics grips an important stake in the division of type of end-use, due to the improved security structures it offers.
Additional type of applications, for example DNA scan, retinal scan, and ear lobe scan are progressively presented through a number of end-use sections, due to their greater gradation of sensitivity and precision.The subdivision of Finger Scan application was responsible for the most important stake of market by capacity during the year 2015.It was responsible for more than 40% stake of the general application.
Gushing demand for finger scan incorporated laptop devices, Smartphones, laptop and tablets that guarantee superior data safety are sequentially headed to an upsurge in the demand for progressive finger scanners.The biometric sensor market on the source of Type of Product could span Electric Field Sensors, Thermal Sensors, Capacitive Sensors, Ultrasound Sensors, Optical Sensors.
The subdivision of Optical Sensor product contributed to above 40% stake of the market by capacity in 2017 and is likely to carry on with its supremacy above the subsequent eight years.
The Global Biometric Sensor Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The report offers a value chain analysis that gives a comprehensive outlook of the biometric sensor market.
The attractiveness analysis of this market has also been included so as to evaluate the segments that are anticipated to be profitable during the forecast period.Browse the complete Global Biometric Sensor Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/7047-biometric-sensor-market-reportThe report also covers the complete competitive landscape of the global Biometric Sensor market with company profiles of key players such as:3M CompanyCrossMatch Technologies, Inc.Fulcrum BiometricsIDEX ASANEC CorporationPrecise Biometrics AbSafran S.A.Suprema Inc.Synaptics Inc.ZKTeco Inc.SEGMENTATIONS IN REPORT:Biometric Sensor Market Analysis By Product:Capacitive SensorsOptical SensorsThermal SensorsUltrasound SensorsElectric Field SensorsBiometric Sensor Market Analysis By Applications:Voice ScanFinger ScanHand ScanFacial ScanIris ScanVein ScanOthersBiometric Sensor Market Analysis By End Use:Consumer ElectronicsCommercial BuildingsDefenseMedicalBSFIOthersBiometric Sensor Market Analysis By Geography:North AmericaEuropeAsia PacificRest of the WorldDownload Free Sample Report of Global Biometric Sensor Market @ https://www.decisiondatabases.com/contact/download-sample-7047The Global Biometric Sensor Market has been exhibited in detail in the following chapters –Chapter 1 Biometric Sensor Market PrefaceChapter 2 Executive SummaryChapter 3 Biometric Sensor Industry AnalysisChapter 4 Biometric Sensor Market Value Chain AnalysisChapter 5 Biometric Sensor Market Analysis By ProductChapter 6 Biometric Sensor Market Analysis By ApplicationsChapter 7 Biometric Sensor Market Analysis By End UseChapter 8 Biometric Sensor Market Analysis By GeographyChapter 9 Competitive Landscape Of Biometric Sensor CompaniesChapter 10 Company Profiles Of Biometric Sensor IndustryPurchase the complete Global Biometric Sensor Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-7047Other Reports by DecisionDatabases.com:Global Proximity And Displacement Sensors Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Ultrasonic Sensor Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Wearable Sensors Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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