Home > Semiconductors & Electronics > Sensors > Biometric Sensors Market

Biometric Sensors Market Size

Report ID: GMI8743
Published Date: Mar 2024
Report Format: PDF

Download Free Sample

Biometric Sensors Market Size

Biometric Sensors Market was valued at over USD 1.8 billion in 2023 and is estimated to register a CAGR of over 12.5% between 2024 and 2032. The biometric authentication industry has been experiencing an upward trend, boosting the growth of the market. Various organizations from finance, health and government sectors have adopted biometric authentication systems to prevent security breaches and identity theft.

To get key market trends

Download Free Sample

For instance, in January 2024, Mastercard launched the Mastercard Biometric Authentication Service that was designed to improve safety as well as convenience for customers. This service confirms identities by means of fingerprint, iris or facial recognition scanning so as to protect personal information better.

A favorable regulatory environment is a significant driver of growth for the biometric sensors industry. Governments and industry groups have established guidelines to improve security such as Europe’s GDPR, or India’s Aadhaar system. To conform to these regulations, companies must incorporate biometric verification and other identification systems, therefore fueling demand for biometric sensors across diverse sectors. Abiding by these standards facilitates interoperability, dependability and safety of the technology, therefore fostering trust among users.

Biometric Sensors Market Report Attributes
Report Attribute	Details
Base Year:	2023
Biometric Sensors Market Size in 2023:	USD 1.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	12.5%
2032 Value Projection:	USD 5.1 Billion
Historical Data for:	2018 to 2023
No. of Pages:	230
Tables, Charts & Figures:	362
Segments covered:	Product, application, end-use and region
Growth Drivers:	Rising demand for security and convenience Increasing adoption of biometric authentication Rising demand for contactless biometrics Growing applications in IoT and wearable devices Regulatory mandates and standards
Pitfalls & Challenges:	Liveness detection challenges Interoperability and standardization issues

Learn more about the key segments shaping this market

Download Free Sample

The biometric sensors market faces significant obstacles in the field of liveness detection which is one major component of biometric authentication systems that are designed to fight against spoofing attacks. Security and reliability of biometric authentication systems is under serious threat from various spoofing techniques like using fake biometrics. Therefore, the need to develop robust liveness detection algorithms capable of differentiating between real and fake biometric samples. Success of the algorithm depends mainly on reducing false negatives while combating several tricks as well as adapting itself to changing environments.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

Market size for biometric sensors was valued at over USD 1,800 million in 2023 and is estimated to register a CAGR of over 12.5% between 2024 and 2032, driven by a favorable regulatory environment.

Optical sensor segment held a major market share of over 35% in 2023 and will continue to gain traction through 2032, as they do not require physical contact and can also address issues concerning cleanliness & health.

North America biometric sensors market accounted for around 36% revenue share in 2023, as different industries including government, healthcare, finance, and consumer electronics are increasingly focusing on security and identity verification.

3M Company, Fujitsu, Crossmatch, Infineon Technologies, Fulcrum Biometrics LLC, NEC Corporation, and Precise Biometrics AB.