Biometric sensors, which measure the wearer's body temperature, heart rate, and other key characteristics, are becoming more common in wearable consumer electronics devices as technology advances. The market is expanding as more smartphones are incorporating fingerprint sensors. Another factor propelling the global biometric sensor market is the growing use of biometric sensors in automobiles for safer driving. The use of fingerprint, voice, gesture, and iris recognition as well as other biometric identity features in high-end vehicles is one of the main factors driving the need for biometric sensors.
The biometric sensor market's growth is constrained by the high cost of biometric technology. Security has risen to the top of the priority list in businesses like manufacturing facilities and educational institutions. However, the growing expense of biometric technology is limiting the ability of educational institutions and business sector organisations with limited resources to invest in security. As a result, the growing cost of biometric technology is a limiting factor for the growth of the biometric sensor market.
Coherent Market Insights mentions in its study that global Biometric Sensor Market was valued at US$ 1.4 Bn in 2021 and is expected to reach US$ 3.6 Bn by 2030, growing at a CAGR of 11.4% between 2022 and 2030.
Leading companies in the Biometric Sensor Industry:
1. 3M Cognet
3M Company operates as a diversified technology company worldwide. The company was founded in 1902 and is based in St. Paul, Minnesota. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer.
2. Crossmatch Technologies
The company was founded in 1997, headquartered in Florida, U.S. September 2018, ASSA ABLOY has acquired Crossmatch, a leader in biometric identity management and secure authentication solutions. "Crossmatch is a strategic technological addition to the ASSA ABLOY Group. The company reinforces our current offering within biometric identity management.
3. Idex Asa
IDEX Biometrics ASA engages in the design, development, and sale of fingerprint authentication solutions in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific regions. IDEX Biometrics ASA was incorporated in 1996 and is headquartered in Oslo, Norway. It primarily serves manufacturers of smart cards for financial payment applications and biometric payment card markets.
4. Infineon Technologies Ag
Infineon Technologies AG is headquartered in Neubiberg, Germany, founded in April, 1999. Infineon Technologies AG designs, develops, manufactures, and markets semiconductors and related system solutions worldwide. On April 2020, Infineon Technologies AG announced the Closing of the acquisition of Cypress Semiconductor Corporation, the San Jose-based company that will further strengthen its focus on structural growth drivers and on a broader range of applications.
5. Fulcrum Biometrics
On September 2020, FULCRUM BIOMETRICS, INC., a leading provider of biometrics and identity management solutions and the developer of the FbF® Rapid Multi-Biometric Enablement Software Suite, announced that it has acquired the DelaneyBiometrics business, including intellectual property and distribution rights, from Delaney Secure Ltd., a UK biometrics company specializing in cloud-based time and attendance and access control. The acquisition is aimed at strengthening Fulcrum’s off-the-shelf biometric solution offerings for small and medium enterprises the company was founded in April 2009, headquartered in Texas, U.S.
6. Precise Biometrics Ab
Precise Biometrics AB (publ) was incorporated in 1997 and is headquartered in Lund, Sweden. Precise Biometrics AB (publ) offers identification software for the secure authentication of people's identity in Europe, Asia, and the United States. Precise Biometrics AB has completed the acquisition of 100 percent of the shares in EastCoast Solutions AB and Besökssystem Sverige AB that was announced on 29 November 2021.
7. NEC Corporation
NEC Corporation operates as a provider of information and communication technology solutions in Japan and internationally. NEC Corporation was incorporated in 1899 and is headquartered in Tokyo, Japan. On January 2022, NEC acquires mobile network innovator Blue Danube Systems, Inc. to enhance its 5G product portfolio and customer support capability.
8. Zkteco
ZKTeco's expansion strategy in Europe, on February 2022 ZKTeco Iberia announces its distribution partnership with VISIOTECH, one of the largest security providers as its Strategic Distributor. ZKTeco Co., Ltd. provides biometric verification algorithm techniques, sensors, and software platform worldwide. ZKTeco Co., Ltd. was founded in 1985 and is based in Dongguan, China.
9. Suprema Inc
On December 2020, Suprema, a global provider of access control, biometrics and time & attendance solutions, has announced that its BioStar 2 platform acquired ISO 27001 and ISO 27701 certifications, internationally recognised privacy information and security standards. The company was founded in May 2000, headquartered in Repunlic of South Korea.
10. Morpho SA
Morpho, Inc. engages in the research, development, and licensing of image processing technologies in Japan. It offers image and motion stabilization; AI inference software; video processing software package; artificial bokeh effect; flash reduction; noise reduction; HDR and DR-corrected image generation; panorama image generation; high-speed video generation; visual SLAM; and motion vector and face detection. was founded in 2004 and is based in Tokyo, Japan.
*Definition-A biometric device is a type of security identification and system that use biometric sensors to confirm or recognise a person's identity. authentication
