BIOMETRIC SENSORS MARKET ANALYSIS

The growing concerns around data security and privacy issues pose a significant challenge for the growth of the global biometric sensors market. As biometric technologies like fingerprint, face and iris recognition become pervasive for authentication across various applications, there is a rising threat of biometric data theft. Once compromised, biometric data cannot be changed unlike passwords as it is uniquely linked to an individual. This poses serious risks of identity theft and financial or other types of fraud.

Market Opportunities: Emerging applications in healthcare sector

The healthcare sector is poised to benefit tremendously from emerging applications of biometric sensors in the coming years. Biometrics are increasingly being used for patient identification and record access in hospitals to ensure privacy and security of sensitive health data. This reduces medical errors caused by misidentification. Biometric sensors can also enable contactless checks of vital signs and symptoms. For example, iris scanners and AI-powered cameras can accurately detect blood pressure, heart rate, fever and other indicators by analyzing facial images without direct contact. This is highly advantageous given current priorities around infection control and social distancing in clinical settings. As the global population ages, remote patient monitoring will grow in importance to manage chronic diseases and reduce healthcare costs. Biometric wearables using technologies like fingerprint sensors, ECG, and photoplethysmography can monitor patients remotely and flag any deviations to physicians. This allows for early medical interventions and prevents expensive emergency hospitalizations. The ability to comprehensively track health data over time through biometrics will also accelerate drug discovery and precision medicine by providing valuable real-world evidence.