(MENAFN- America News Hour)In a recent published report, Kenneth Research has updated the market report for Biometric Sensors Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Biometric Sensors Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
Global Biometric Sensors Market is estimated to reach $1,820 million by 2024; growing at a CAGR of 9.7% from 2016 to 2024. Biometrics refers for analysing and measuring an individual's biological and behavioural characteristics. Biometric sensors are used in microphones and high definition cameras for fast voice verification and facial recognition. Growing consumer responsiveness regarding safety & security of private files and data has supplemented the growth of biometric sensor based electronic devices such as smartwatches, tablets, smartphones and others. Different sectors such as consumer electronics, automotive, and defense, among others pose a huge demand for biometric sensor market. Some of the major driving factors of the global biometric sensors market are rise in demand for fingerprint identification in tables, smartphones, and other electronic devices. Additionally, lightweight & compact design of biometric sensors has also boosted the market. Growth in demand for fingerprint scanning biometric sensors and rising adoption of stronger security systems across various industry sectors would provide growth opportunities for the market in the coming years.
Type, application, end user, and geography are the key segments of the global biometric sensors market. The market by type is further categorized into ultrasound sensors, thermal sensors, optical sensors, capacitive sensors, and electric field sensors. Application segment includes finger scan, hand scan, vein scan, voice scan, facial scan, iris scan, and others. The biometric sensor market by end-user is segregated into defense & security, consumer electronics, commercial centers & buildings, medical & research labs, banking & financial services, and others.
The global biometric sensors market by geography is categorized into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers UK, France, Germany, and others. Asia-Pacific covers China, India, Japan, Taiwan, South Korea, and others. RoW covers South America, Middle East and Africa.
Major companies operating in the biometric sensor market are Fulcrum Biometrics, ZKTeco Inc, 3M, Infineon Technologies AG, Safran, Precise Biometrics Ab, NEC Corporation, CrossMatch Technologies, Inc., IDEX ASA, and Suprema Inc., and among others.
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The key takeaways from the report:
The report will provide detailed analysis of Biometric Sensors Market with respect to major segments such as type, application, and end user
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of Biometric Sensors Market has been included in the report.
Profile of the key players in the Biometric Sensors Market, will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Biometric Sensors Market
Type Segments
Thermal Sensors
Ultrasound Sensors
Capacitive Sensors
Optical Sensors
Electric Field Sensors
Application Segments
Hand Scan
Finger Scan
Voice Scan
Vein Scan
Iris Scan
Facial Scan
Others
End-User Segments
Consumer Electronics
Defense & Security
Medical & Research Labs
Commercial Centers & Buildings
Banking & Financial Services
Others
Geographical Segments
North America
US
Canada
Mexico
Europe
UK
France
Germany
Others
Asia-Pacific
China
India
Japan
Taiwan
South Korea
Others
RoW
South America
Middle East
Africa
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About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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