Biometric Sensors Market to Account for US$1,625.8 Million in Revenue by 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.

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.

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Global market for biometric sensors has been covered under the scope of this report. Biometric sensors are an essential part of identity technology. They can be defined as a ubiquitous technology that can be used in high definition cameras primarily for facial recognition and microphones for voice capturing purposes. The specially-designed units that can be customized to scan the vein patterns beneath the skin are also biometric sensors. Some key attributes of biometric sensors include fast verification and identification. Biometric sensors are breakthrough technology, which weed out various security-related issues from different domains. Technological advancements coupled with rising demand for biometric technology in different sectors such as automotive, commercial centers, consumer electronics and defense and security among others are offering great opportunities for the major players in the biometric sensors market.

Rising demand for fingerprint identification for gaining access in smart phones and other smart gadgets has positively impacted the growth of biometric sensors market. Growing demand for biometric sensor based tablets, smartwatches, wearable devices, and other consumer electronic products is acting as one of the major drivers for this market. Convenience of use and comprehensive nature of biometric sensors are among the key drivers for the global biometric sensors market. Biometric sensors are lightweight and compact in design. Furthermore, they can be easily installed in devices. Growing preference for stronger systems of security and convenience in terms of application are major factors contributing to the growing popularity of biometric sensors at the global level.

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By type, the market can be segmented into capacitive sensors, optical sensors, thermal sensors, ultrasound sensors and electric field sensors (e field). As of 2014, optical sensors held largest share in the market. Wide application in biometric systems and flexibility in application are major drivers for growth of optical sensors.

In terms of application, the market can be segmented into voice scan, finger scan, hand scan, facial scan and iris scan among others. Fingerprint sensors are widely accepted in various industries for authentication purposes in biometric systems. Factors such as rising cases of identity theft and increasing demand for data security and safety are leading to a positive impact on the fingerprint scan market. Finger scan and facial scan together contributed more than 56% share of the total revenue in 2014. Convenience in terms of application along with compact design is some of the major attributes of biometric sensors which in turn are having a positive impact on the market.

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