Biometrics research briefs: fingerprint sensors, biometric authentication, digital door locks
MarketsandMarkets, a market research firm, predicts that the fingerprint sensor market will grow from US$4.25 billion in 2018 to US$8.8 billion by 2023, constituting a compound annual growth rate (CAGR) of 15.66 percent. The firm attributes the future growth of this market to the proliferation of fingerprint sensors in smartphones and other consumer electronics, government support for the adoption of fingerprint sensors, and use of biometrics in mobile commerce.
The firm predicts that capacitive fingerprint sensors are expected to hold the largest share of the fingerprint sensor market based on technology, in terms of value, by 2023. The largest share of the sensors based on this technology is attributed to the use of capacitive fingerprint sensors in smartphones, laptops, and other consumer electronics. Moreover, Apple, Goodix, Egis Technology, and Synaptics are identified as the major providers of capacitive fingerprint sensors.
The fingerprint sensor market in the Asian-Pacific region is expected to grow at the highest CAGR during the forecast period.
WiseGuyReports notes that the global market for biometric authentication and identification was valued at US$11.76 billion in 2015 and is expected to grow to US$25.31 billion by 2020 with compound annual growth rate (CAGR) of 16.56 percent.
North America has been the largest contributor to revenue in the global market and is expected to grow to over US$7.2 billion by 2020. The Asia-Pacific region is expected to grow at a CAGR of 19.92 percent from 2015 to 2020 and dominate the market. The demand of biometrics product in this region is due to government initiatives for nationwide enrolment and ID issuance in India and China. Japan is also increasing the number biometrics automated teller machines (ATMs) been deployed.
The firm also notes that the fingerprint modality dominated the market in 2014 and is expected to grow to over US$10.9 billion by the end of 2020. By applications, the government segment accounted for US$5.1 billion in 2015 and is estimated to grow at a CAGR of 10.79 percent from 2015 to 2020.
Digital door locks
According to QY Research, the global digital door lock system market was valued at US$1.3 billion 2017 and is expected to reach US12.2 billion USD by the end of 2025, growing at a compound annual growth rate (CAGR) of 31.6 percent between 2017 and 2025.