Mobile biometrics market to surpass $15.6B by 2024, major sensor growth forecast
Market research companies analyze and predict major market growth for mobile biometrics, m-commerce, biometrics and printed and flexible sensors over the next years.
By 2024, the high demand for mobile biometrics and m-commerce combined with the technology’s efficiency in preventing fraud will drive the global mobile biometrics market to a growth by $15.63 billion at a CAGR of 19 percent, according to Technavio.
Over the next few years, the company predicts 3D sensors and in-display fingerprint sensors will be top market drivers, alongside multimodal biometrics systems and behavioral biometrics. Some of the top industry players include Egis Technology, Fingerprint Cards, Fujitsu, M2SYS Technology, NEC, Precise Biometrics, Qualcomm, Goodix Technology, Synaptics, and Thales Group.
After analyzing tech developments by major industry players, 360iResearch found that the global biometric sensors market is forecast to grow at a CAGR of 8.52 percent from 2019 to 2025, reaching $2,148.62 million. The major sensor categories include capacitive sensors, electric field sensors (eField), optical sensors, thermal sensors, and ultrasound sensors.
The report also breaks down the market by application, end user and region.
The market for printed and flexible sensors such as organic and hybrid photodetectors, biosensors, ITO replacement materials, wearable electrodes, and piezoresistive, piezoelectric, temperature, touch, gas, humidity and strain sensors will reach an estimated $4.5 billion by 2030, says a report from market research company IDTechEx.
A thorough analysis into 50 industry companies and the emerging printed electronics market for over a decade, IDTechEx developed commercial adoption opportunities and roadblocks for various sensor types, technologies, and applications. Sensors vary in structure, complexity and materials, but most are built on low-cost flexible large-area substrates.