Biometric Sensors Market Estimated to Experience a Hike in Growth By 2030
Biometric Sensors Market to Surge at a Robust Pace in Terms of Revenue Over 2030 - Thales Group, IDEX ASA, Infineon, etc
The global biometric sensors market is set to grow due to identity threats, touchless fingerprint tech, and the popularity of wearable devices.”
WILMINGTON, DE, UNITED STATES, September 16, 2024 /EINPresswire.com/ -- Allied Market Research, titled, โBiometric Sensors Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021โ2030โ, 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. The North America region is expected to be the leading contributor to the global market during the forecast period, followed by Asia-Pacific and Europe.— Allied Market Research
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ & ๐๐๐: https://www.alliedmarketresearch.com/request-sample/1859
A biometric sensor is an identification and authentication device that uses automated methods of verifying or recognizing the identity of a living person, based on the physical attribute. These attributes include fingerprints, facial images, Iris, and voice recognition. Generally, the sensor reads or measures light, temperature, speed, electrical capacity, and other types of energy. Different technologies are applied to get the conversation using sophisticated combinations, networks of sensors, and digital cameras.
Many physical characteristics of a person, such as a face, iris, and fingerprints, are scanned by a biometric sensor and are converted to a digital image using an analog-to-digital converter. This digital information is stored in a memory and is used to verify or authenticate the identity of the person.
In the current modernized digital world, security threats are on a rapid rise. The global financial and banking sectors are interconnected via the Internet and the data related to consumers is highly confidential and prone to cyber-attacks. The current security systems implemented by organizations have multiple loopholes and are unsecured against high-level cyber-attacks. Further, the surge in demand for touchless fingerprint technology drives the biometrics sensors market.
Prominent factors that impact the market growth of biometric sensors include the rise in identity threats, the emergence of touchless fingerprint technology, and the growth in the popularity of wearable devices, such as smartwatches and smart bands. However, the high cost of biometric technology and easy availability of alternative cheap non-biometric technologies restrict the market growth. On the contrary, the growing concerns related to privacy breaches are expected to create lucrative opportunities for the market. Therefore, these factors are expected to affect the biometric sensors industry during the forecast period.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/1859
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
The Biometric Sensors industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐๐ฃ๐จ๐ซ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐ข๐จ๐ฆ๐๐ญ๐ซ๐ข๐ ๐๐๐ง๐ฌ๐จ๐ซ๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐,
CROSSMATCH Technologies Inc.
Fujitsu
Fulcrum Biometrics
Thales Group
IDEX ASA
Infineon Technologies
NEC Corporation
Precise Biometrics AB
SAFRAN S.A.
ZKTECO Inc.
Based on 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 an increase in demand for smart weapons, and most of the smart weapons use biometric sensor technology, which further stimulates the demand for biometric sensors. The overall biometric sensors market analysis is determined to understand the profitable trends to gain a stronger foothold.
๐๐จ๐ฏ๐ข๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
The COVID-19 pandemic has significantly impacted global economies, resulting in workforce & travel restrictions, supply chain & production disruptions, and reduced demand & spending across many sectors. A sudden decline in infrastructure development is expected to hamper market share growth.
The biometric sensors market revenue witnessed a decline in its growth rate, owing to delayed projects, which led to a substantial impact. Furthermore, market players are investing in the R&D of biometric sensors, owing to an increase in governmental initiatives globally. Therefore, the biometric sensors market size is anticipated to gain momentum by the end of 2022.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/1859
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ญ๐ฎ๐๐ฒ
- In 2020, 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 the highest growth rate during the forecast period.
- Germany was the major shareholder in the European biometric sensors market, accounting for approximately 25% share in terms of revenue in 2020.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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Allied Market Research
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