Biometric Sensors Market is Expected to Reach $3.31 Billion by 2030, Registering a CAGR of 11.8%

Biometric Sensors Market 2021 - 2030

Biometric Sensors Market 2021 - 2030

The biometric sensors market share to witness the highest growth rate, owing to increase in the population and adoption of enhanced technologies in smart infrastructure.”

PORTLAND, OR, UNITED STATES, September 25, 2023 / -- Allied Market Research published a report on Biometric Sensors Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030. The global biometric sensors market size was valued at $1.15 billion in 2020, and is projected to reach $3.31 billion by 2030, registering a CAGR of 11.8% during the forecast period.

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Prominent factors that impact the biometric sensors market growth include the rise in number of identity threats, emergence of touch less fingerprint technology, and growth in popularity of wearable devices, such as smart watches and smart bands.

However, high cost of biometric technology and easy availability of alternative cheap non-biometric technologies restricts the market growth. On the contrary, the growing concerns related to privacy breaches is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the biometric sensors industry during the forecast period.

Biometric sensors hold high potential in the market. The current business scenario experiences rapid development in smart infrastructure leading to readiness to adopt sensors, particularly in the developed and developing regions such as North America, Asia-Pacific, and Europe. Companies in this industry adopt various innovative techniques to provide customers with advanced and innovative features.

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Competitive Analysis:

The company profile section of the Biometric Sensor Market report covers strategic developments, business overview, product offerings, and financial performance of the companies. It also highlights the strategies adopted by companies such as products launch, agreements, partnerships, acquisitions mergers, collaborations, joint ventures, research & development investment, and regional expansion in the past few years.

Some of the major key players of the global Biometric Sensor Market include,

• CROSSMATCH Technologies Inc
• Fujitsu
• Fulcrum Biometrics
• Thales Group
• Infineon
• NEC Corporation
• Precise Biometrics AB
• and ZKTECO Inc.

Asia-Pacific is the leading supplier of raw materials for manufacturing of biometric systems across the globe. Also, Asia-Pacific witnessed a wide-scale adoption of these systems in the recent years, owing to increase in demand for biometric sensors across various sectors such as retail, hospitals, automotive, and manufacturing. Companies operating in the biometric sensors market have a robust supply chain network owing to the high penetration of local players in this market.

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On the basis of region, the biometric sensors market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is dominating the market, due to increase in demand for smart weapons, and most of the smart weapons use biometric sensors technology, which further stimulates the demand for biometric sensors.

Key Findings of Study

• The voice scan segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 13.9% during the forecast period.

• The thermal sensors segment is expected to witness highest growth rate during the forecast period.

• Germany was the major shareholder in the Europe biometric sensors market, accounting for approximately 25% share in terms of revenue.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Allied Market Research
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