• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

IoT to Help Drive Security Sensors Market to $12B by 2023: Frost & Sullivan

January 18, 2018

The emergence of the Internet of Things presents a huge opportunity for the global security and surveillance sensors market, suggests a new report from Frost & Sullivan.IoT to Help Drive Security Sensors Market to $12B by 2023: Frost & Sullivan

In a statement, the growth consultancy firm announced ‘three big predictions’ for this market: That sensors will form the “physical layer” to IoT-driven machine-to-machine communications; new communication protocols will enable interoperability and standardization in infrastructure security; and the retail, healthcare, and finance sectors will “offer considerable growth opportunities for sensors in biometrics.”

We’re already seeing some of these big trends take shape, with biometric technology specialist NEC promoting both the security and retail applications of its facial recognition technology, and testing out smart city tools in collaboration with government authorities in Singapore. Other major firms are likely to start pumping resources into these areas as the IoT and the Industrial IoT continue to evolve; and indeed Frost & Sullivan predicts that “challenges for sensor manufacturers and suppliers include increased competition, leading to pricing pressures, lack of product differentiation, and lack of common global standards.”

The report asserts that the total security and surveillance sensors market was valued at about $6.27 billion in 2016, and that by 2023 its value will exceed $12 billion, with the APAC region being the fastest growing over the forecast period.

Filed Under: Industry News

Related News & Articles

Yoti’s Age Verification Tech to Help Australians Buy Alcohol Online

Instagram Starts Using Selfie Videos to Catch Bots

Huawei Wins ‘Outstanding Contribution to the Mobile Industry Award’ at Mobile World Congress 2018

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi's product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Innovatrics Tailors Selfie Onboarding Tech for Hotel Check-in
  • iProov’s Latest eIDAS Certification Opens Door to EU Mobile ID Opportunities
  • Amid Political Unease, Tunisia Launches Mobile ID Pilot
  • Colombia Pushes LATAM Partners to Accept Mobile ID at the Border
  • Onfido Explains How UK Privacy Bill Is ‘Positive Step’ In Global Patchwork

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 MobileIDWorld