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Global Biometric Sensors Market to Reach $1.6B by 2023
April 8, 2016 | Transparency Market ResearchEstimated reading time: 1 minute
The global biometric sensors market was worth $710 million in 2014 and is expected to rise at a CAGR of 9.6% from 2015 to 2023 to reach a figure of $1.6 billion by 2023, according to a report by Transparency Market Research.
Volume-wise, the global biometric sensors market is anticipated to expand at a CAGR of 15.8% between 2015 and 2023 to reach 1.8 billion units by 2023. Biometric sensors use physical traits of humans and integrate it with digital technology to create a biometric security solution. Such a solution comprises of a biometric sensor with an electrical device that converts biometric feed such as fingerprint, face, or the voice of a human into an electrical signal. These sensors offer quick verification and identification and are therefore used for filtering out security issues from various industrial verticals.
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