Global Consumer Biometrics Market Size To Increase At A CAGR Of 15.30% During The Forecast Period 2023-2028, Aided By The Growing Demand For Enhanced Security
The ‘Global Consumer Biometrics Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global consumer biometrics market, assessing the market on the basis of its segments like sensing module, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Consumer Biometrics Market Size, Share, Price, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 15.30%
Customer engagements with devices and services has increased due to greater connectivity and digitalisation, which has raised the requirements for identity authentication. As the necessity for advanced biometric security becomes more widely recognised, more consumer gadgets are using biometric technologies to enhance customer experiences.
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Consumer biometrics have become a mainstream consumer technology and are only becoming more prominent as security experts and everyday consumers recognize the vulnerabilities of password-based security and opt instead for the security and convenience of biometric authentication.
Fingerprint sensing technologies hold a major share of the market. The growth of this sector is aided by the various technologies available, including capacitive, ultrasonic, static, swipe-type, and optical fingerprint sensors.
Consumer Biometrics Industry Definition and Major Segments
Consumer biometrics means the implementation and utilisation of biometric security systems in electronic devices are standalone products. The biometric systems are used in products like access control door locks, security systems, home automation and IoT, automotive, game consoles and mobile devices.
The segments of the market, based on sensing module, include the following:
• Face Recognition
• Eye/Iris Recognition
Based on the end-uses, the market divisions include:
Based on region, the market for consumer biometrics can be segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Consumer Biometrics Market Trends
Biometric security is increasingly gaining popularity as they are easy to install and utilise and offer a practical and cost-effective way to guarantee top-notch security and assurance. They are also being widely employed in high-security locations to protect the building and lower the danger of infiltration by automatically recognizing biometrics to identify strangers.
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Smartphone are one of the major products that have experienced a massive trend in the application of the fingerprint biometric technology over the last couple of years. This technology is also widely leveraged for various services, such as online transactions, authentication, and many other services.
Fingerprint sensing technologies are advancing fast and now they are also being introduced in credit cards, which to provide a significant enhancement to the market value.
In addition, a lot of businesses are cooperating in order to extend their operations internationally. For instance, Microsoft has just certified the SideSwipe, SideTouch, and EcoID USB fingerprint reader accessories from BIO-Key to enable Windows 10’s newest biometric authentication sign-in feature.
Key Market Players
The major players in the consumer biometrics market report are:
• Shenzhen Goodix Technology Co., Ltd.
• IDEX Biometrics ASA
• Infineon Technologies AG
• Princeton Identity
• STMicroelectronics NV
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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