Industry Background:
The term "biometrics" is derived from the Greek words bio (life) and metric (to measure). It is a technology that measures and analyzes a person's physiological or behavioral characteristics. These characteristics are unique to individuals hence can be used to verify or identify a person. To tackle problems like money laundering, tax evasion and fighting fraudulent businesses all around the world, 90% of the end-users including banking, industries, and government have adopted various forms of unified biometrics systems. Biometric Sensor use scanner uses a light-sensitive microchip (CCD, charge-coupled device, or a CMOS image sensor) to produce a digital image. This growing adoption rate of the biometric sensor has ultimately led to the growth of the biometric sensor market.
According to AMA, the market for Biometric Sensors is expected to register a CAGR of 10.58% during the forecast period to 2026. This growth is primarily driven by Growing Security Threats Worldwide and Increasing Use of Biometric Sensor by Government for Citizens Identification and Illegal Migrations.
Globally, a noticeable market trend is evident Rising Trend for Mobile Biometric Technology
. The Sensor Systems sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as HID Global. (United States), 3M Cogent, Inc. (United States), NEC Corporation (Japan), Fulcrum Biometrics, LLC. (United States), Infineon Technologies AG (United States), ZKTeco Inc. (China), Safran SA (France), Precise Biometrics AB (Sweden), Suprema Inc. (South Korea), IDEX Biometrics ASA (Norway), Fujitsu Ltd. (Japan) and LighTuning Tech. Inc. (Taiwan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In September 2018, HID Global, a worldwide leader in trusted identity solution acquired Crossmatch, a leader in biometric identity management and secure authentication solutions, from Francisco Partners. This acquisition strengthens HID Global’s ability to offer innovative biometric identity solutions
In November 2018, IDEX Biometrics, a Norwegian biometrics company entered into a partnership with Infineon Technologies AG, a German semiconductor manufacturer to integrate IDEX biometrics technology into platforms featuring Infineon’s secure elements. This partnership focus on developing a system-on-card demonstrator that runs on the latest dual-interface 16-bit security controller from Infineon.
Market Drivers
- Growing Security Threats Worldwide
- Increasing Use of Biometric Sensor by Government for Citizens Identification and Illegal Migrations
Market Trend
- Rising Trend for Mobile Biometric Technology
- Integration of Biometric Sensor Technology in IoT
Restraints
- High Cost of biometric Sensor
Opportunities
Increasing Use of Fingerprint Biometric Sensor in for Access Control, High level of Physiological Biometric Sensor Acceptance and Growing Implementation of in Electronic Devices such as in Smartphones
Challenges
Maintain Privacy of Biometric Data
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Biometric Sensors Study Sheds Light on
The Biometric Sensors Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Biometric Sensors industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Biometric Sensors industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.