DUBLIN, October 4, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Biometric Sensors Market 2016-2020" report to their offering.
The global biometric sensors market to grow at a CAGR of 10.14% during the period 2016-2020.
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 report also includes a discussion of the key vendors operating in this market.
Emergence of touchless sensing technology will be a key trend for market growth. A fingerprint scan requires the end-user to place his finger on a plain glass surface, which can lead to smudged or deformed images. This leads to discrepancies in the authentication process, which can result in unauthorized access. With advances in technology, touchless sensing technology has evolved. This technology generates 3D fingerprint scans. 3D fingerprint scanners help solve the problems of traditional systems, as they do not cause slippage, deformation, or smearing of the fingerprint. In addition, 3D touchless fingerprint technology is interoperable with legacy devices to provide high-quality images. To develop a 3D fingerprint image interoperable with the existing AFIS, a simulated rolling procedure was introduced, which unwraps 3D fingerprint image into 2D fingerprint images that are comparable with legacy rolled fingerprints. Furthermore, a 3D fingerprint image provides a high-quality, large, nail-to-nail representation of the finger.
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.
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?
- 3M Cogent
Other prominent vendors
- Fulcrum Biometrics
- IDEX ASA
For more information about this report visit http://www.researchandmarkets.com/research/vm97nr/global_biometric
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets