Portland, April 27, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global biometric sensor market was pegged at $944.0 million in 2017 and is estimated to hit $1.92 billion by 2025, registering a CAGR of 9.3% from 2018 to 2025. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Increase in number of identity threats & emergence of touchless fingerprint technology and growth in popularity of wearable devices such as smart watches & smart bands, using biometric sensors drive the growth of the global biometric sensor market. On the other hand, expensive biometric technology and easy availability of alternative cheap non-biometric technologies curtail down the growth to certain extent. However, surge in demand for better security and authentication methods are expected to create multiple opportunities in the near future.
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By type, the optical sensors segment accounted for more than one-third of the global market revenue in 2017 and is anticipated to rule the roost during the study period. Simultaneously, the thermal sensors segment would portray the fastest CAGR of 14.6% from 2018 to 2025. The other segments analyzed in the report include capacitive sensors, ultra sound sensors, and electric field sensors.
By application, the finger scan segment contributed to nearly two-fifths of the global market share in 2017 and is expected to maintain the lion’s share by the end of 2025. At the same time, the voice scan segment would cite the fastest CAGR of 14.6% till 2025. The market also evaluates the market through other segments such as hand scan, facial scan, iris scan, and vein scan.
By region, Asia-Pacific held the highest share in 2017, garnering more than one-third of the global market. The region across LAMEA, on the other hand, would manifest the fastest CAGR of 15.3% throughout the forecast period. The other two provinces discussed in the report include North America and Europe.
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The leading market players analyzed in the global biometric sensor market report include Crossmatch Technologies Inc., Infineon Technologies AG, ZKTECO Inc., Safran, NEC Corporation, 3M Cogent, Fujitsu, Fulcrum Biometrics, Precise Biometrics Ab, and IDEX ASA. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.
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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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