Palm Vein Biometrics Market- Global Industry Analysis and Forecast (2023-2029)


Palm Vein Biometrics Market is expected to grow at a CAGR of 21.8% during the forecast period and market is expected to reach US$ 3.39 Bn. by 2029.

The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.To know about the Research Methodology:-Request Free Sample Report

Palm Vein Biometrics Market Dynamics

The Palm vein biometrics recognition is a biometric authentication method based on the unique patterns of veins in the palms of people's hands. The Palm vein identification systems, similar to many other biometric technologies, capture an image of a target, obtain and process image data and contrast it to a stored record for that individual. There are many biometric technologies available in the global market but, the demand for palm vein biometrics technology is increasing because this technology is ideal for security, accuracy, reliability, ease of usage, and economical. The system is not influenced by dryness or roughness of skin or by physical injury on the surface of the hand.

An increasing number of establishments and the growing need for advanced security are major factors expected to drive the growth of the global market over the forecast period. In addition, expanding the application of biometrics for better security reasons has a positive influence on market growth. Threats to national security and advancements in technology are also increasing the need for this biometric technology.

Growing business competition has increased the need for securing confidential data and information of an organization for supporting the market position. Various initiatives taken by the government to give every citizen unique identity cards are expected to drive market growth. Furthermore, advancement in technology is anticipated to be one of the major factors contributing to market growth.

However, improved compatibility and standardization are the major factors awaited to restrain the growth of the global market over the forecast period.

Segment Analysis

The hardware segment includes readers, scanners, and cameras while software and services involve operating systems, middleware, intelligent layers, system integration, software platforms, training, and post-deployment maintenance.

The growing trend noticed in the market is the increasing adoption of palm vein biometric in the application segment, especially the banking, financial services and insurance (BESI), healthcare industry, and educational institutes. This segment is expected to continue dominance over the forecast period owing to applications such as physical access control, logical access control, branch banking, ATMs, mobile banking, kiosks, and safe deposit locker. It helps in preventing customers from data breaching and identity theft.

Regional Analysis

Asia-Pacific is anticipated to witness the quickest growth over the coming decade. Increasing awareness for biometric technologies, a growing population base, and the increasing number of manufacturing companies are the drivers for the palm vein biometric market. In addition, a high replaceable income level has a positive impact on market growth.

The Asia Pacific is expected to witness the fastest growth over the coming decade. The rising realization for biometric technologies, a growing population base, and an increasing number of manufacturing companies are the drivers anticipating the demand for the palm vein biometric market. Furthermore, a high disposable income level has a positive effect on market growth.

Palm Vein Biometrics Market Key Highlights

Global Palm Vein Biometrics Market analysis and forecast, in terms of value.
Comprehensive study and analysis of market drivers, restraints, and opportunities influencing the growth of the Global Palm Vein Biometrics Market
The Palm Vein Biometrics Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
Global Palm Vein Biometrics Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
Global Palm Vein Biometrics Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and Latin America along with country-wise segmentation.
Profiles of key industry players, their strategic perspective, market positioning, and analysis of core competencies are further profiled.
Competitive developments, investments, strategic expansion, and competitive landscape of the key players operating in the Global Palm Vein Biometrics Market are also profiled.

Palm Vein Biometrics Market Scope: Inquire before buying






Palm Vein Biometrics Market




Report Coverage
Details




Base Year:
2022
Forecast Period:
2023-2029




Historical Data:
2018 to 2022
Market Size in 2022:
US $ 1.26 Bn.




Forecast Period 2023 to 2029 CAGR:
21.8%
Market Size in 2029:
US $ 3.39 Bn.




 Segments Covered:
by Product
Hardware
Software




by Application
Banking and finance sector
Healthcare
Home security
Commercial security
Consumer electronics
Education sector
Gaming
Transportation
Government sectors






Palm Vein Biometrics Market, by Region

North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)

Palm Vein Biometrics Market, Key Players are:

1. FUJITSU
2. M2SYS Technology
3. BioEnable Technologies Pvt. Ltd.
4. Matrix Security Solutions
5. Identy Tech Solutions
6. PalmSure
7. Mofiria
8. Hitachi
9. Imprivata, Inc.
10.Mantra Softech (India) Pvt. Ltd.
11.NEC Corporation
12.3M Cogent
13.Mantra Infotech
14.IDLink Systems
15.Tyco

Frequently Asked Questions:

1. Which region has the largest share in Global Palm Vein Biometrics Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Palm Vein Biometrics Market?
Ans: The Global market is growing at a CAGR of 21.8% during forecasting period 2023-2029.

3. What is scope of the Global Palm Vein Biometrics Market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Palm Vein Biometrics Market?
Ans: The important key players in the Global market are – FUJITSU, M2SYS Technology, BioEnable Technologies Pvt. Ltd., Matrix Security Solutions, Identy Tech Solutions, PalmSure, Mofiria, Hitachi, Imprivata, Inc., Mantra Softech (India) Pvt. Ltd., NEC Corporation, 3M Cogent, Mantra Infotech, IDLink Systems, and Tyco

5. What is the study period of this Market?
Ans: The Global market is studied from 2022 to 2029. 





Global Palm Vein Biometrics Market

1. Preface
1.1. Research Objectives
1.2. Report Scope and Market Segmentation

2. Assumptions and Research Methodology
2.1. Abbreviations
3. Executive Summary
3.1. Global Palm Vein Biometrics Market Size, by Market Value (US$ Mn) and Market

4. Market Overview
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers and Restraints Snapshot Analysis
4.2.2. Drivers
4.2.3. Restraints
4.2.4. Opportunities
4.2.5. Porter’s Analysis
4.2.6. Value Chain Analysis
4.2.7. SWOT Analysis
4.3.Global Palm Vein Biometrics Market Industry Trends

5. Global Palm Vein Biometrics Market Analysis and Forecast
5.1. Global Palm Vein Biometrics Market Size& Y-o-Y Growth Analysis
5.1.1. North America
5.1.2. Europe
5.1.3. Asia Pacific
5.1.4. Middle East & Africa
5.1.5. South America

6. Global Palm Vein Biometrics Market Analysis and Forecast, by Product
6.1. Introduction and Definition
6.2. Global Palm Vein Biometrics Market Value Share Analysis, by Product
6.3. Global Palm Vein Biometrics Market Size (US$ Mn) Forecast, by Product
6.4. Global Palm Vein Biometrics Market Analysis, by Product
6.5. Global Palm Vein Biometrics Market Attractiveness Analysis, by Product
6.6. Key Trends
6.6.1. Key Developments

7. Global Palm Vein Biometrics Market Analysis and Forecast, by Application
7.1. Introduction and Definition
7.2. Global Palm Vein Biometrics Market Value Share Analysis, by Application
7.3. Global Palm Vein Biometrics Market Size (US$ Mn) Forecast, by Application
7.4. Global Palm Vein Biometrics Market Analysis, by Application
7.5. Global Palm Vein Biometrics Market Attractiveness Analysis, by Application
7.6. Key Trends
7.6.1. Key Developments

8. Global Palm Vein Biometrics Market Analysis, by Region
8.1. Global Palm Vein Biometrics Market Value Share Analysis, by Region
8.2. Global Palm Vein Biometrics Market Size (US$ Mn) Forecast, by Region
8.3. Global Palm Vein Biometrics Market Attractiveness Analysis, by Region
8.4. Key Trends
8.4.1. Key Developments

9. North America Palm Vein Biometrics Market Analysis
9.1. North America Palm Vein Biometrics Market Overview
9.2. North America Palm Vein Biometrics Market Value Share Analysis, by Product
9.3. North America Palm Vein Biometrics Market Forecast, by Product
9.3.1. Hardware
9.3.2. Software
9.4. North America Palm Vein Biometrics Market Value Share Analysis, by Application
9.5. North America Palm Vein Biometrics Market Forecast, by Application
9.5.1. Banking and finance sector
9.5.2. Healthcare
9.5.3. Home security
9.5.4. Commercial security
9.5.5. Consumer electronics
9.5.6. Education sector
9.5.7. Gaming
9.5.8. Transportation
9.5.9. Government sectors
9.6. North America Palm Vein Biometrics Market Value Share Analysis, by Country
9.7. North America Palm Vein Biometrics Market Forecast, by Country
9.7.1. U.S.
9.7.2. Canada
9.8. North America Palm Vein Biometrics Market Analysis, by Country
9.9. U.S. Palm Vein Biometrics Market Forecast, by Product
9.9.1. Hardware
9.9.2. Software
9.10. U.S. Palm Vein Biometrics Market Forecast, by Application
9.10.1. Banking and finance sector
9.10.2. Healthcare
9.10.3. Home security
9.10.4. Commercial security
9.10.5. Consumer electronics
9.10.6. Education sector
9.10.7. Gaming
9.10.8. Transportation
9.10.9. Government sectors
9.11. Canada Palm Vein Biometrics Market Forecast, by Product
9.11.1. Hardware
9.11.2. Software
9.12. Canada Palm Vein Biometrics Market Forecast, by Application
9.12.1. Banking and finance sector
9.12.2. Healthcare
9.12.3. Home security
9.12.4. Commercial security
9.12.5. Consumer electronics
9.12.6. Education sector
9.12.7. Gaming
9.12.8. Transportation
9.12.9. Government sectors
9.13. North America Palm Vein Biometrics Market Attractiveness Analysis
9.13.1. By Product
9.13.2. By Application
9.14. PEST Analysis
9.15. Key Trends
9.15.1. Key Developments

10. Europe Palm Vein Biometrics Market Analysis
10.1. Europe Palm Vein Biometrics Market Overview
10.2. Europe Palm Vein Biometrics Market Value Share Analysis, by Product
10.3. Europe Palm Vein Biometrics Market Forecast, by Product
10.3.1. Hardware
10.3.2. Software
10.4. Europe Palm Vein Biometrics Market Value Share Analysis, by Application
10.5. Europe Palm Vein Biometrics Market Forecast, by Application
10.5.1. Banking and finance sector
10.5.2. Healthcare
10.5.3. Home security
10.5.4. Commercial security
10.5.5. Consumer electronics
10.5.6. Education sector
10.5.7. Gaming
10.5.8. Transportation
10.5.9. Government sectors
10.6. Europe Palm Vein Biometrics Market Value Share Analysis, by Country
10.7. Europe Palm Vein Biometrics Market Forecast, by Country
10.7.1. Germany
10.7.2. U.K.
10.7.3. France
10.7.4. Italy
10.7.5. Spain
10.7.6. Rest of Europe
10.8. Europe Palm Vein Biometrics Market Analysis, by Country/ Sub-region
10.9. Germany Palm Vein Biometrics Market Forecast, by Product
10.9.1. Hardware
10.9.2. Software
10.10. Germany Palm Vein Biometrics Market Forecast, by Application
10.10.1. Banking and finance sector
10.10.2. Healthcare
10.10.3. Home security
10.10.4. Commercial security
10.10.5. Consumer electronics
10.10.6. Education sector
10.10.7. Gaming
10.10.8. Transportation
10.10.9. Government sectors
10.11. U.K. Palm Vein Biometrics Market Forecast, by Product
10.11.1. Hardware
10.11.2. Software
10.12. U.K. Palm Vein Biometrics Market Forecast, by Application
10.12.1. Banking and finance sector
10.12.2. Healthcare
10.12.3. Home security
10.12.4. Commercial security
10.12.5. Consumer electronics
10.12.6. Education sector
10.12.7. Gaming
10.12.8. Transportation
10.12.9. Government sectors
10.13. France Palm Vein Biometrics Market Forecast, by Product
10.13.1. Hardware
10.13.2. Software
10.14. France Palm Vein Biometrics Market Forecast, by Application
10.14.1. Banking and finance sector
10.14.2. Healthcare
10.14.3. Home security
10.14.4. Commercial security
10.14.5. Consumer electronics
10.14.6. Education sector
10.14.7. Gaming
10.14.8. Transportation
10.14.9. Government sectors
10.15. Italy Palm Vein Biometrics Market Forecast, by Product
10.15.1. Hardware
10.15.2. Software
10.16. Italy Palm Vein Biometrics Market Forecast, by Application
10.16.1. Banking and finance sector
10.16.2. Healthcare
10.16.3. Home security
10.16.4. Commercial security
10.16.5. Consumer electronics
10.16.6. Education sector
10.16.7. Gaming
10.16.8. Transportation
10.16.9. Government sectors
10.17. Spain Palm Vein Biometrics Market Forecast, by Product
10.17.1. Hardware
10.17.2. Software
10.18. Spain Palm Vein Biometrics Market Forecast, by Application
10.18.1. Banking and finance sector
10.18.2. Healthcare
10.18.3. Home security
10.18.4. Commercial security
10.18.5. Consumer electronics
10.18.6. Education sector
10.18.7. Gaming
10.18.8. Transportation
10.18.9. Government sectors
10.19. Rest of Europe Palm Vein Biometrics Market Forecast, by Product
10.19.1. Hardware
10.19.2. Software
10.20. Rest of Europe Palm Vein Biometrics Market Forecast, by Application
10.20.1. Banking and finance sector
10.20.2. Healthcare
10.20.3. Home security
10.20.4. Commercial security
10.20.5. Consumer electronics
10.20.6. Education sector
10.20.7. Gaming
10.20.8. Transportation
10.20.9. Government sectors
10.21. Europe Palm Vein Biometrics Market Attractiveness Analysis
10.21.1. By Product
10.21.2. By Application
10.22. PEST Analysis
10.23. Key Trends
10.23.1. Key Developments

11. Asia Pacific Palm Vein Biometrics Market Analysis
11.1. Key Findings
11.2. Asia Pacific Palm Vein Biometrics Market Overview
11.3. Asia Pacific Palm Vein Biometrics Market Value Share Analysis, by Product
11.4. Asia Pacific Palm Vein Biometrics Market Forecast, by Product
11.4.1. Hardware
11.4.2. Software
11.5. Asia Pacific Palm Vein Biometrics Market Value Share Analysis, by Application
11.6. Asia Pacific Palm Vein Biometrics Market Forecast, by Application
11.6.1. Banking and finance sector
11.6.2. Healthcare
11.6.3. Home security
11.6.4. Commercial security
11.6.5. Consumer electronics
11.6.6. Education sector
11.6.7. Gaming
11.6.8. Transportation
11.6.9. Government sectors
11.7. Asia Pacific Palm Vein Biometrics Market Value Share Analysis, by Country
11.8. Asia Pacific Palm Vein Biometrics Market Forecast, by Country
11.8.1. China
11.8.2. India
11.8.3. Japan
11.8.4. ASEAN
11.8.5. Rest of Asia Pacific
11.9. Asia Pacific Palm Vein Biometrics Market Analysis, by Country/ Sub-region
11.10. China Palm Vein Biometrics Market Forecast, by Product
11.10.1. Hardware
11.10.2. Software
11.11. China Palm Vein Biometrics Market Forecast, by Application
11.11.1. Banking and finance sector
11.11.2. Healthcare
11.11.3. Home security
11.11.4. Commercial security
11.11.5. Consumer electronics
11.11.6. Education sector
11.11.7. Gaming
11.11.8. Transportation
11.11.9. Government sectors
11.12. India Palm Vein Biometrics Market Forecast, by Product
11.12.1. Hardware
11.12.2. Software
11.13. India Palm Vein Biometrics Market Forecast, by Application
11.13.1. Banking and finance sector
11.13.2. Healthcare
11.13.3. Home security
11.13.4. Commercial security
11.13.5. Consumer electronics
11.13.6. Education sector
11.13.7. Gaming
11.13.8. Transportation
11.13.9. Government sectors
11.14. Japan Palm Vein Biometrics Market Forecast, by Product
11.14.1. Hardware
11.14.2. Software
11.15. Japan Palm Vein Biometrics Market Forecast, by Application
11.15.1. Banking and finance sector
11.15.2. Healthcare
11.15.3. Home security
11.15.4. Commercial security
11.15.5. Consumer electronics
11.15.6. Education sector
11.15.7. Gaming
11.15.8. Transportation
11.15.9. Government sectors
11.16. ASEAN Palm Vein Biometrics Market Forecast, by Product
11.16.1. Hardware
11.16.2. Software
11.17. ASEAN Palm Vein Biometrics Market Forecast, by Application
11.17.1. Banking and finance sector
11.17.2. Healthcare
11.17.3. Home security
11.17.4. Commercial security
11.17.5. Consumer electronics
11.17.6. Education sector
11.17.7. Gaming
11.17.8. Transportation
11.17.9. Government sectors
11.18. Rest of Asia Pacific Palm Vein Biometrics Market Forecast, by Product
11.18.1. Hardware
11.18.2. Software
11.19. Rest of Asia Pacific Palm Vein Biometrics Market Forecast, by Application
11.19.1. Banking and finance sector
11.19.2. Healthcare
11.19.3. Home security
11.19.4. Commercial security
11.19.5. Consumer electronics
11.19.6. Education sector
11.19.7. Gaming
11.19.8. Transportation
11.19.9. Government sectors
11.20. Asia Pacific Palm Vein Biometrics Market Attractiveness Analysis
11.20.1. By Product
11.20.2. By Application
11.21. PEST Analysis
11.22. Key Trends
11.22.1. Key Developments

12. Middle East & Africa Palm Vein Biometrics Market Analysis
12.1. Key Findings
12.2. Middle East & Africa Palm Vein Biometrics Market Overview
12.3. Middle East & Africa Palm Vein Biometrics Market Value Share Analysis, by Product
12.4. Middle East & Africa Palm Vein Biometrics Market Forecast, by Product
12.4.1. Hardware
12.4.2. Software
12.5. Middle East & Africa Palm Vein Biometrics Market Value Share Analysis, by Application
12.6. Middle East & Africa Palm Vein Biometrics Market Forecast, by Application
12.6.1. Banking and finance sector
12.6.2. Healthcare
12.6.3. Home security
12.6.4. Commercial security
12.6.5. Consumer electronics
12.6.6. Education sector
12.6.7. Gaming
12.6.8. Transportation
12.6.9. Government sectors
12.7. Middle East & Africa Palm Vein Biometrics Market Value Share Analysis, by Country
12.8. Middle East & Africa Palm Vein Biometrics Market Forecast, by Country
12.8.1. GCC
12.8.2. South Africa
12.8.3. Rest of Middle East & Africa
12.9. Middle East & Africa Palm Vein Biometrics Market Analysis, by Country/ Sub-region
12.10. GCC Palm Vein Biometrics Market Forecast, by Product
12.10.1. Hardware
12.10.2. Software
12.11. GCC Palm Vein Biometrics Market Forecast, by Application
12.11.1. Banking and finance sector
12.11.2. Healthcare
12.11.3. Home security
12.11.4. Commercial security
12.11.5. Consumer electronics
12.11.6. Education sector
12.11.7. Gaming
12.11.8. Transportation
12.11.9. Government sectors
12.12. South Africa Palm Vein Biometrics Market Forecast, by Product
12.12.1. Hardware
12.12.2. Software
12.13. South Africa Palm Vein Biometrics Market Forecast, by Application
12.13.1. Banking and finance sector
12.13.2. Healthcare
12.13.3. Home security
12.13.4. Commercial security
12.13.5. Consumer electronics
12.13.6. Education sector
12.13.7. Gaming
12.13.8. Transportation
12.13.9. Government sectors
12.14. Rest of Middle East & Africa Palm Vein Biometrics Market Forecast, by Product
12.14.1. Hardware
12.14.2. Software
12.15. Rest of Middle East & Africa Palm Vein Biometrics Market Forecast, by Application
12.15.1. Banking and finance sector
12.15.2. Healthcare
12.15.3. Home security
12.15.4. Commercial security
12.15.5. Consumer electronics
12.15.6. Education sector
12.15.7. Gaming
12.15.8. Transportation
12.15.9. Government sectors
12.16. Middle East & Africa Palm Vein Biometrics Market Attractiveness Analysis
12.16.1. By Product
12.16.2. By Application
12.17. PEST Analysis
12.18. Key Trends
12.18.1. Key Developments

13. South America Palm Vein Biometrics Market Analysis
13.1. Key Findings
13.2. South America Palm Vein Biometrics Market Overview
13.3. South America Palm Vein Biometrics Market Value Share Analysis, by Product
13.4. South America Palm Vein Biometrics Market Forecast, by Product
13.4.1. Hardware
13.4.2. Software
13.5. South America Palm Vein Biometrics Market Value Share Analysis, by Application
13.6. South America Palm Vein Biometrics Market Forecast, by Application
13.6.1. Banking and finance sector
13.6.2. Healthcare
13.6.3. Home security
13.6.4. Commercial security
13.6.5. Consumer electronics
13.6.6. Education sector
13.6.7. Gaming
13.6.8. Transportation
13.6.9. Government sectors
13.7. South America Palm Vein Biometrics Market Value Share Analysis, by Country
13.8. South America Palm Vein Biometrics Market Forecast, by Country
13.8.1. Brazil
13.8.2. Mexico
13.8.3. Rest of South America
13.9. South America Palm Vein Biometrics Market Analysis, by Country/ Sub-region
13.10. Brazil Palm Vein Biometrics Market Forecast, by Product
13.10.1. Hardware
13.10.2. Software
13.11. Brazil Palm Vein Biometrics Market Forecast, by Application
13.11.1. Banking and finance sector
13.11.2. Healthcare
13.11.3. Home security
13.11.4. Commercial security
13.11.5. Consumer electronics
13.11.6. Education sector
13.11.7. Gaming
13.11.8. Transportation
13.11.9. Government sectors
13.12. Mexico Palm Vein Biometrics Market Forecast, by Product
13.12.1. Hardware
13.12.2. Software
13.13. Mexico Palm Vein Biometrics Market Forecast, by Application
13.13.1. Banking and finance sector
13.13.2. Healthcare
13.13.3. Home security
13.13.4. Commercial security
13.13.5. Consumer electronics
13.13.6. Education sector
13.13.7. Gaming
13.13.8. Transportation
13.13.9. Government sectors
13.14. Rest of South America Palm Vein Biometrics Market Forecast, by Product
13.14.1. Hardware
13.14.2. Software
13.15. Rest of South America Palm Vein Biometrics Market Forecast, by Application
13.15.1. Banking and finance sector
13.15.2. Healthcare
13.15.3. Home security
13.15.4. Commercial security
13.15.5. Consumer electronics
13.15.6. Education sector
13.15.7. Gaming
13.15.8. Transportation
13.15.9. Government sectors
13.16. South America Palm Vein Biometrics Market Attractiveness Analysis
13.16.1. By Product
13.16.2. By Application
13.17. PEST Analysis
13.18. Key Trends
13.18.1. Key Developments

14. Competitive Landscape
14.1. Market Share Analysis, by Company
14.2. Competition Matrix
14.3. Competitive Benchmarking of Company and Services
14.4. Company Profiles: Key Players
14.4.1. M2SYS Technology
14.4.1.1. Company Overview
14.4.1.2. Financial Overview
14.4.1.3. Business Strategy
14.4.1.4. Recent Developments
14.4.1.5. Development Footprint
14.4.2. FUJITSU
14.4.3. BioEnable
14.4.4. Matrix Security Solutions
14.4.5. Identy Tech Solutions
14.4.6. PalmSure
14.4.7. Mofiria
14.4.8. Hitachi
14.4.9. NEC
14.4.10. 3M Cogent
14.4.11. Mantra Infotech
14.4.12. IDLink Systems
14.4.13. Tyco
15. Primary Key Insights
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