Consumer Biometrics Industry Forecasts, 2020-2025: Widening Applications Promote Worldwide Growth
DUBLIN, March 19, 2020 /PRNewswire/ -- The "Consumer Biometrics Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
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The Global Consumer Biometrics Market has shipped 2,100 million units in 2019 and is expected to reach 5,263 units shipment by 2025, registering a CAGR of 17.2%, during the period of 2020-2025.
Rising demand for ease and convenience, availability, and reachability of biometrics is expected to create opportunities for the market further. According to the findings of a survey commissioned by VISA, consumers are ready to leave the password behind. 70% of consumers believe that biometrics are always more comfortable as they do not involve memorizing passwords. More than 65% of consumers are already familiar with biometrics, while 86% are interested in using biometrics to verify the identity or to make payments.
Key Highlights
-- The increasing connectivity and digitization have increased customer
interactions with devices and services, which is further demanding
identity authentication for access. The increasing awareness of the need
for sophisticated biometric security, widening the scope of applications
of biometrics technology in consumer electronics, to improve customer
experiences, and technological advancements are expected to drive the
growth of the market over the forecast period.
-- The rapid proliferation of the internet and the growth of mobile devices
has led to increased payments through mobile. This mode of payment is
anticipated to experience significant growth over the next few years.
-- For instance, according to GSMA, the number of smartphone subscribers in
North America is expected to reach 328 million by 2025. Moreover, by
2025, the region is likely to witness an increase in the penetration
rates of mobile subscribers (86%) and the internet (80%), the
second-highest in the world. Additionally, according to GSMA, by 2025,
Europe is estimated to have the highest rate of penetration of the
internet (82%) and smartphones (88%).
-- The increasing penetration of smartphones, which are equipped with
fingerprint sensors, is among the prominent driver for the growth of
fingerprint sensors. According to the Credit Suisse report, in 2018, the
shipment of smartphones with fingerprint sensors worldwide stood at
1,082 million units.
Market Trends
Fingerprint Sensing Modules to Hold the Major Share
-- Devices used for fingerprint biometrics provide the users with increased
convenience, availability, and reachability of embedded biometrics. The
demand for fingerprint sensing modules for consumer authentication is
expected to witness significant growth over the forecast period on
account of the increasing demand for biometric technology for access
management, need for better security, and change in consumer preference
for new technologies with a personalized experience.
-- Smartphones, in that row, have witnessed an increasingly growing trend
in this technology over the past five years. This technology has been
leveraged to facilitate online transactions, authentication, and many
other services.
-- A survey conducted on 1,000 US adults by Veridium to understand
biometric consumer sentiment indicated that their most preferred form of
biometric identification on their phones is the fingerprint, at 63%.
Other forms of identification are ranked way below, such as facial
recognition (14%), traditional passwords and PINs (8%), and voice
recognition (2%).
-- The market studied has seen various technological developments in
smartphones from a separate fingerprint scanner to an in-display
fingerprint scanner. Vivo, a Chinese Smartphone brand, was the first to
implement in-display fingerprint. Starting with the launch of the iPhone
5S, which had a TouchID capacitive technology, many other
next-generation smartphones have incorporated multiple biometric options
that users can set for different purposes.
Asia-Pacific to Be the Largest and Fastest Growing Market
-- Asia-Pacific has the largest population of all the regions. With an
increase in the urban population and increased purchasing power,
Asia-Pacific is expected to be one of the largest and fastest growing
markets for consumer biometrics.
-- Major smartphone companies, including Huawei, Apple, Samsung, Xiaomi,
and Lenovo has its manufacturing facilities in China. With the
continuous increase in smartphone sales, the demand for fingerprint
sensors to be embedded into smartphones is expected to increase in the
country.
-- Seeking the growing opportunities in the market, the companies in the
region are manufacturing biometric sensors. For instance, in December
2019, Chinese sensor manufacturer Goodix introduced its latest
ultra-thin optical in-display fingerprint sensor by integrating it in
Oneplus 7T pro 5G Mclaren.
-- Automotive companies in the region are actively investing in integrating
consumer biometric solutions in their upcoming vehicles. For instance,
Xiaopeng Motors has introduced its P7 model, which has an embedded
fingerprint sensor in the handlebar.
Competitive Landscape
The providers of consumer biometrics market are adopting an aggressive pricing strategy to gain a competitive edge in the market. Many companies are increasing their market presence by introducing new products or solutions or by entering into strategic mergers and acquisitions. For Instance, in June 2019, Assa Abloy signed acquired the international identity solutions business of De La Rue, a leading passport manufacturer based in the United Kingdom. De La Rues International Identity Solutions business is a strategic technological addition to the company.
Recent Developments
-- February 2020 - Goodix has developed some innovative fingerprint
solutions, which will power up advanced 5G flagship experiences with
dual commercialization, which are Huawei Mate Xs, and Realme X50 Pro 5G.
These innovations will result in better positioning of the company.
-- January 2020 -Next Biometrics Group SA received an order for UIDAI and
STQC certified fingerprint biometric readers in India, with a value of
USD 750,000. The customer provided a 20% upfront payment, and the first
readers are in transit. The purchase order reflects the increased demand
for biometric solutions, primarily those related to the Indian
Government's Aadhaar program, which continues to provide NEXT with
opportunities to expand its share in the growing Indian market.
-- November 2019 - Synaptics Inc. announced its expansion into the
automotive segment, with the launch of its fingerprint biometrics for
the automotive industry. The company is expected to roll out these
solutions to the global market in the first half of 2020.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Widening Applications of Biometrics
4.3.2 Technological Advancements in Biometrics
4.4 Market Restraints
4.4.1 Data Security and Privacy Concerns
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Industry Value Chain Analysis
5 MARKET SEGMENTATION
5.1 By Sensing Module
5.1.1 Fingerprint
5.1.2 Face Recognition
5.1.3 Eye/Iris Recognition
5.2 By End-users
5.2.1 Automotive
5.2.2 Smartphone/Tablet
5.2.3 PC/Laptop
5.2.4 Wearables
5.2.5 IoT Devices
5.2.6 Other End-users
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Apple Inc.
6.1.2 Shenzhen Goodix Technology Co. Ltd.
6.1.3 IDEX Biometrics ASA
6.1.4 Infineon Technologies
6.1.5 Princeton Identity
6.1.6 Egis Technologies Inc.
6.1.7 Qualcomm Incorporated
6.1.8 STMicroelectronics N.V.
6.1.9 ON Semiconductor
6.1.10 Assa Abloy AB
6.1.11 Synaptics Inc.
6.1.12 NEXT Biometrics Group ASA
6.1.13 LG Innotek Co. Ltd.
6.1.14 Knowles Electronics LLC
6.1.15 Omnivision Technologies
6.1.16 Precise Biometrics AB
6.1.17 Idemia France SAS
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/lfgkc0
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