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Biometric Sensors Market Expected To Reach US$1,625.8 mn in Revenue by 2023

MarketResearchReports.Biz Announed Research Report On "Biometric Sensors Market Analysis And Forecast 2015 - 2023"

Biometric sensors integrate physical traits of the human body with digital technology in order to provide biometric security. Semiconductor devices like biometric security systems contain algorithms and template database in order to match live biometric samples with the already stored samples in the database. Face metrics, fingerprints, and vein structures in hands among others are some of the physical traits used to prepare desired templates. Increasing concerns of privacy and security along with growing demand for smart gadgets with biometric security systems are some of the major driving factors for the market. A biometric sensor is a transducer that converts a biometric treat such as voice, face, and fingerprint etc. of a person into an electrical signal. Sensors generally measure temperature, pressure, light, electrical capacity, and speed. Biometric sensors are lightweight and compact in design. Furthermore, they can be installed in devices very conveniently. Some key attributes of biometric sensors include fast verification and identification. Biometric sensors are a breakthrough technology, which weed out various security-related issues from different domains. 

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Factors such as increasing emphasis on better security and safety, application of fingerprint scan, facial scan, hand scan, and voice scan are expected to see positive growth during the forecast period from 2015 to 2023. Increasing emergence of mobile and online financial transactions, biometric security solutions have found a huge opportunity in the financial sector. Biometric sensors technology can be used in a wide number of applications such as automotive, consumer electronics, commercial centers, and hospitality industries. In the sectors where safety, privacy, and security are of primary concern, biometric sensors are expected to find opportunities in applications such as making transactions and operations. 

Biometric and fingerprint sensors have become a standard feature in consumer electronic products. Sensing the consumer preference for security and privacy, the key manufacturers of smartphones and other gadgets have started offering fingerprint sensors as a part of certain products. The demand for biometric security technology is on the rise due to the fact that the users of smartphones and other smart gadgets have become more familiar and comfortable with using tools such as fingerprint identification for gaining access. Growing demand for tablets, smartwatches, wearable devices, and other consumer electronic products is acting as one of the major drivers for this market. Furthermore, some of the factors acting as restraining factors for the market include limitation of application in different geographical regions due to cultural barriers and lack of standardization in the process of implementation and development of technical standards. However, graphene enable sensors are the future of the biometric sensors market. 

Based on type, the market is segmented into capacitive sensors, optical sensors, thermal sensors, ultrasound sensors, and electric field sensors (eField). In terms of application, the market is segmented into voice scan, finger scan, hand scan, facial scan, iris scan, vein scan, and others. Furthermore, by end use, the market is segmented into consumer electronics, commercial centers and buildings, defense and security, medical and research labs, banking and financial services sector among others. 

Geographically, the global biometric sensors market is categorized into North America, Europe, Asia Pacific and Rest of the World (RoW). The scope of the report offers an insight into biometric sensors market in these regions based on revenue (USD million) and volume (million units). 

The report also includes competitive profiling of leading players in the industry and their market share to aid in strategic decision making. The market attractiveness analysis and company market share analysis included in the report provide insight into market dynamics, industry competition and strategies adopted by market leaders. 

The report also breaks down and reviews the various factors impacting the market growth, which can be appropriately described as market drivers, restraints, and opportunities. These factors help to determine the various existing trends and their impact on the market growth. Overall, taking into consideration the various factors affecting the biometric sensors market, the report includes a holistic analysis of the global biometric sensor market, and provides an estimate of growth for the period 2015 to 2023. 

Some of the leading players in the biometric sensors market are CrossMatch Technologies, Inc. (U.S.), Fulcrum Biometrics (U.S.), Infineon Technologies AG (Germany), 3M (U.S.), ZKTeco Inc (China), NEC Corporation (Japan), Safran (France), Precise Biometrics Ab (Sweden)Health Fitness Articles, Suprema Inc. (South Korea) and IDEX ASA (Norway) among others.

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