Global Biometric Sensors Market to grow at a CAGR of 10.14% during the period 2016 - 2020; Finds New Report

Report forecast the global biometric sensors market to grow at a CAGR of 10.14% during the period 2016-2020.

A biometric sensor is a transducer, which converts the biometric input signal (fingerprints, voice, vein patterns, or facial traits) of its user into an electrical signal. In order to authenticate any biometric measurement, a biometric sensor is required to scan the user's fingerprint or voice or face in the hardware set.

The report covers the present scenario and the growth prospects of the global biometric sensors market for 2016-2020. To calculate the market size, the report considers the total sales of biometric sensors (used in fingerprint recognition, iris recognition, facial recognition, hand geometry, voice recognition, and vein recognition) for end-user sectors such as government, transportation, healthcare, BFSI, and retail.

The market is divided into the following segments based on geography:

• APAC
• Europe
• North America
• ROW

According to the report, a major driver contributing to the growth of this market is the increasing number of identity thefts. Lately, there has been an increase in the number of identity and data theft cases, primarily because of the increase in the use of websites and web applications by end-users. The growing popularity of online consulting and sharing of health-related results online is also leading to identity theft cases. The increasing complexity of these attacks is driving end-users to implement secure authentication solutions. Hence, there is increased adoption of biometric security solutions as they are one of the most secure authentication solutions. These solutions are very reliable as they efficiently assess individuals on the basis of their physical or behavioral traits, which are very difficult to forge, making them one of the strongest authentication solutions available in the market.

Further, the report states that as alternative solutions are comparatively inexpensive and are much easier to operate, they find greater acceptance among enterprises. Small and medium-scale businesses, in particular, prefer cost-effective solutions over biometric solutions. Moreover, vendors with much larger customer bases generally provide inexpensive authentication solutions. As these vendors have been present in the authentication market for many years and have a diversified geographic presence, their solutions have a wider acceptance. Therefore, strong competition from inexpensive non-biometric technologies is a major challenge hindering the growth of the market.

Global Biometric Sensors Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global biometric sensors market:  3M Cogent, Crossmatch, NEC, and Safran.

Other Prominent Vendors in the market are: Fulcrum Biometrics, IDEX ASA, and ZKTeco.

Market driver

• Availability of cloud-based biometrics
• For a full, detailed list, view our report

Market challenge

• Paucity of biometrics standardization
• For a full, detailed list, view our report

Market trend

• Emergence of touchless sensing technology
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 87 pages and 54 Exhibit “Global Biometric Sensors Market 2016 - 2020” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market opportunities, Market segmentation by application, Market segmentation by end-use, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape.

For more information Visit at: http://mrr.cm/3pE

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