Palm Vein Biometrics Market

Market Insights

The global palm vein biometrics market is expected to expand at a CAGR of 16.5% during the forecast period from 2018 to 2026. With the advent of digitalization, cybercrime, fraud, and cyber theft are on the rise. This has forced business organizations and commercial facilities to adopt the most reliable, secure, and accurate identity authentication techniques for physical access, data access, and general security. With perpetual growth in networks, devices, and applications and rising incidences of cyber-attacks by outcasts and insider manipulation, the implementation of technological safeguards has become more imperative to all enterprises than ever. The deployment of a biometric identity and access control solution capable of identifying the person behind the password is a major step towards ensuring reliable system security. For a few years now, enterprises worldwide have been experimenting with several biometric authentication solutions, such as voice recognition, digital signatures, and fingerprint and face recognition, among others. Although all of the aforementioned biometric solutions offer a relatively greater level of security than traditional passwords, palm vein recognition technology is touted as the most accurate and reliable biometric authentication solution currently available in the market. This is because veins have a wealth of distinct features, thereby making attempts to falsify an identity extremely difficult.

Market Synopsis

BFSI to Dominate; Healthcare to Register Strong Growth

Banking, Financial Services, and Insurance (BFSI) was the largest value-contributing end-use segment in the global palm vein biometrics market in the base year 2017. The trend shall lengthen over the forecast period, with the segment holding on to its leading position by 2026. It is imperative for banks and institutions offering financial services to ensure the confidentiality of the information. Thus, the adoption of security solutions, including biometrics, for controlling, managing, identifying, and defending against unsolicited threats is highest in the BFSI industry vertical. Palm vein recognition technology is gaining popularity among healthcare providers due to its ability to accurately identify patients by allowing staff to access the correct medical record for each patient. Similarly, the acceptance and satisfaction rate of the technology is high when compared with other technologies due to its intuitiveness, ease of use, and convenience offered. In addition, the ongoing trend of ensuring remote access to information, especially in the IT and telecom verticals, has supported the use of security solutions to safeguard off-premise information and client devices. Other industry verticals, including government, the public sector, education, and consumer electronics, are also expected to contribute to positive market growth during the forecast period from 2018 to 2026.

North America to Dominate; Asia Pacific to Register Steady Growth

In 2017, North America was the largest palm vein biometrics market worldwide, closely followed by Europe. The value share of North America in the global palm vein biometrics market stood at over one-third of the global market value in the same year. The growth in developed economies, including North America, is largely due to austere security regulations and measures that support the implementation of technological safeguards across SMEs and large enterprises. In addition, a multitude of investments in developing robust security infrastructure combined with higher acceptance of technological innovations is continually leading to the replacement of conventional systems with state-of-the-art biometric solutions. The U.S. represents the largest palm vein biometrics market in North America and worldwide. The U.S. government has taken regulatory measures that promote cyber security, thereby driving demand for palm vein biometric solutions in the country. On the other hand, Asia Pacific is expected to register maximum growth during the forecast period from 2018 to 2026, which is majorly attributed to the improving physical security infrastructure and the resulting demand for security solutions across industry verticals.

Key Players:

Some of the leading manufacturers profiled in the study include Fujitsu, IdentyTech Solutions America LLC, M2SYS Technology, PalmSure, Hitachi, Mantra Infotech, 3M Cogent, Inc., Imprivata, NEC Corporation, BioGuard, Matrix Security Solutions, IDLink System, and Safran Group, among others.

Periods of History and Forecast

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2016 to 2026, considering 2017 as the base year for the research. The CAGR (compound annual growth rate) for each segment and sub-segment is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the global palm vein biometrics market size in 2016 and 2017?
• What are the estimated forecast and market projections up to 2026?
• Which is the largest regional market for palm vein biometric solutions and services?
• Which end-use segment has the largest penetration of palm vein biometric solutions and services?
• Which offering contributes the highest value in the global palm vein biometrics market?
• Predominant trends shaping the global palm vein biometrics market
• Which is the most attractive and promising end-use segment in the global palm vein biometrics market?
• Who are the leading manufacturers in the global palm vein biometrics market?
• What are the key strategies adopted by the leading manufacturers in the global palm vein biometrics market?

1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

2. Executive Summary
2.1. Global PVB Market Snapshot
2.2. Global PVB Market, by Offering, 2017 (US$ Mn)
2.3. Global PVB Market, by End-use Vertical, 2017 (US$ Mn)
2.4. Global PVB Market, by Geography, 2017 (US$ Mn)

3. Global Palm Vein Biometrics (PVB) Market Analysis
3.1. Global PVB Market Overview
3.2. Market Inclination Insights
3.2.1. Recent Trends
3.2.2. Future Outlook
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Challenges
3.4. Attractive Investment Proposition, by Geography, 2017
3.5. Competitive Landscape
3.5.1. Market Positioning of the Leading Manufacturers
3.5.2. Major Strategies Adopted

4. Global Palm Vein Biometrics (PVB) Market Value, by Offering , 2016 – 2026 (US$ Mn)
4.1. Comparative Analysis
4.1.1. PVB Market Value, by Offering, 2017 & 2026 (Value %)
4.2. Hardware
4.3. Software
4.4. Services

5. Global Palm Vein Biometrics (PVB) Market Value, by End-use Vertical , 2016 – 2026 (US$ Mn)
5.1. Comparative Analysis
5.1.1. PVB Market Value, by End-use Vertical, 2017 & 2026 (Value %)
5.2. BFSI
5.3. IT & Telecom
5.4. Healthcare
5.5. Government & Public Sector
5.6. Education
5.7. Consumer Electronics
5.8. Others (Residential, Retail, Manufacturing, etc.)

6. North America Palm Vein Biometrics (PVB) Market Analysis, 2016 – 2026 (US$ Mn)
6.1. North America PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
6.1.1. Hardware
6.1.2. Software
6.1.3. Services
6.2. North America PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
6.2.1. BFSI
6.2.2. IT & Telecom
6.2.3. Healthcare
6.2.4. Government & Public Sector
6.2.5. Education
6.2.6. Consumer Electronics
6.2.7. Others (Residential, Retail, Manufacturing, etc.)
6.3. North America PVB Market Value, by Country, 2016 – 2026 (US$ Mn)
6.3.1. U.S.
6.3.1.1. U.S. PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
6.3.1.2. U.S. PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
6.3.2. Rest of North America
6.3.2.1. Rest of North America PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
6.3.2.2. Rest of North America PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)

7. Europe Palm Vein Biometrics (PVB) Market Analysis, 2016 – 2026 (US$ Mn)
7.1. Europe PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
7.1.1. Hardware
7.1.2. Software
7.1.3. Services
7.2. Europe PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
7.2.1. BFSI
7.2.2. IT & Telecom
7.2.3. Healthcare
7.2.4. Government & Public Sector
7.2.5. Education
7.2.6. Consumer Electronics
7.2.7. Others (Residential, Retail, Manufacturing, etc.)
7.3. Europe PVB Market Value, by Region, 2016 – 2026 (US$ Mn)
7.3.1. U.K.
7.3.1.1. U.K. PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
7.3.1.2. U.K. PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
7.3.2. Germany
7.3.2.1. Germany PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
7.3.2.2. Germany PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
7.3.3. France
7.3.3.1. France PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
7.3.3.2. France PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
7.3.4. Rest of Europe
7.3.4.1. Rest of Europe PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
7.3.4.2. Rest of Europe PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)

8. Asia Pacific Palm Vein Biometrics (PVB) Market Analysis, 2016 – 2026 (US$ Mn)
8.1. Asia Pacific PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
8.1.1. Hardware
8.1.2. Software
8.1.3. Services
8.2. Asia Pacific PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
8.2.1. BFSI
8.2.2. IT & Telecom
8.2.3. Healthcare
8.2.4. Government & Public Sector
8.2.5. Education
8.2.6. Consumer Electronics
8.2.7. Others (Residential, Retail, Manufacturing, etc.)
8.3. Asia Pacific PVB Market Value, by Country, 2016 – 2026 (US$ Mn)
8.3.1. Japan
8.3.1.1. Japan PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
8.3.1.2. Japan PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
8.3.2. China
8.3.2.1. China PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
8.3.2.2. China PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
8.3.3. India
8.3.3.1. India PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
8.3.3.2. India PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
8.3.4. Rest of Asia Pacific
8.3.4.1. Rest of Asia Pacific PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
8.3.4.2. Rest of Asia Pacific PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)

9. Rest of World Palm Vein Biometrics (PVB) Market Analysis, 2016 – 2026 (US$ Mn)
9.1. Rest of World PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
9.1.1. Hardware
9.1.2. Software
9.1.3. Services
9.2. Rest of World PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
9.2.1. BFSI
9.2.2. IT & Telecom
9.2.3. Healthcare
9.2.4. Government & Public Sector
9.2.5. Education
9.2.6. Consumer Electronics
9.2.7. Others (Residential, Retail, Manufacturing, etc.)
9.3. Rest of World PVB Market Value, by Region, 2016 – 2026 (US$ Mn)
9.3.1. Latin America
9.3.1.1. Latin America PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
9.3.1.2. Latin America PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
9.3.2. Middle East & Africa
9.3.2.1. Middle East & Africa PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
9.3.2.2. Middle East & Africa PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)

10. Company Profiles
10.1. Fujitsu
10.2. IdentyTech Solutions America LLC
10.3. M2SYS Technology
10.4. PalmSure
10.5. Hitachi
10.6. Mantra Infotech
10.7. 3M Cogent, Inc.
10.8. Imprivata
10.9. NEC Corporation
10.10. BioGuard
10.11. Matrix Security Solutions
10.12. IDLink System
10.13. Safran Group

List of Figures

FIG. 1 Global Palm Vein Biometrics (PVB) Market Segmentation
FIG. 2 Global PVB Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global PVB Market, by Offering, 2017 (US$ Mn)
FIG. 5 Global PVB Market, by End-use Vertical, 2017 (US$ Mn)
FIG. 7 Global PVB Market, by Geography, 2017 (US$ Mn)
FIG. 8 Global PVB Market Value and Growth, 2016 – 2026, (US$ Mn and % Y-o-Y)
FIG. 9 Attractive Investment Segment: Global PVB Market
FIG. 10 Market Positioning of the Leading Vendors, 2017
FIG. 11 Global PVB Market Value Contribution, by Offering, 2016 & 2025 (Value %)
FIG. 12 Global Palm Vein Biometrics Hardware Market Value and Growth, 2016 – 2026, (US$ Mn)
FIG. 13 Global Palm Vein Biometrics Software Market Value and Growth, 2016 – 2026, (US$ Mn)
FIG. 14 Global Palm Vein Biometrics Services Market Value and Growth, 2016 – 2026, (US$ Mn)
FIG. 15 Global PVB Market Value Contribution, by End-use Vertical, 2015 & 2025 (Value %)
FIG. 16 Global PVB Market Value and Growth for BFSI Vertical, 2016 – 2026, (US$ Mn)
FIG. 17 Global PVB Market Value and Growth for IT & Telecom Vertical, 2016 – 2026, (US$ Mn)
FIG. 18 Global PVB Market Value and Growth for Government & Public Sector Vertical, 2016 – 2026, (US$ Mn)
FIG. 19 Global PVB Market Value and Growth for Healthcare Vertical, 2016 – 2026, (US$ Mn)
FIG. 20 Global PVB Market Value and Growth for Education Vertical, 2016 – 2026, (US$ Mn)
FIG. 21 Global PVB Market Value and Growth for Consumer Electronics Vertical, 2016 – 2026, (US$ Mn)
FIG. 22 Global PVB Market Value and Growth for Other Verticals, 2016 – 2026, (US$ Mn)
FIG. 23 North America PVB Market Value and Growth, 2016 – 2026, (US$ Mn) (Y-o-Y %)
FIG. 24 Europe PVB Market Value and Growth, 2016 – 2026, (US$ Mn) (Y-o-Y %)
FIG. 25 Asia Pacific PVB Market Value and Growth, 2016 – 2026, (US$ Mn) (Y-o-Y %)
FIG. 26 RoW PVB Market Value and Growth, 2016 – 2026, (US$ Mn) (Y-o-Y %)

List of Tables

TABLE 1 Market Snapshot: Global Palm Vein Biometrics (PVB) Market
TABLE 2 Key Trends in Palm Vein Biometrics Industry
TABLE 3 Impact Indicators
TABLE 4 Impact Analysis of Drivers and Restraints
TABLE 5 North America PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 6 North America PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 7 North America PVB Market Value, by Country, 2016 – 2026 (US$ Mn)
TABLE 8 U.S. PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 9 U.S. PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 10 Rest of North America PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 11 Rest of North America PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 12 Europe PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 13 Europe PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 14 Europe PVB Market Value, by Country, 2016 – 2026 (US$ Mn)
TABLE 15 U.K. PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 16 U.K. PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 17 France PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 18 France PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 19 Germany PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 20 Germany PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 21 Rest of Europe PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 22 Rest of Europe PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 23 Asia Pacific PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 24 Asia Pacific PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 25 Asia Pacific PVB Market Value, by Country, 2016 – 2026 (US$ Mn)
TABLE 26 China PVB Market Value, by Offering, 2015- 2025 (US$ Mn)
TABLE 27 China PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 28 Japan PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 29 Japan PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 30 India PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 31 India PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 32 Rest of Asia Pacific PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 33 Rest of Asia Pacifc PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 34 Rest of World PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 35 Rest of World PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 36 Rest of World PVB Market Value, by Region, 2016 – 2026 (US$ Mn)
TABLE 37 Latin America PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 38 Latin America PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
TABLE 39 Middle East & Africa PVB Market Value, by Offering, 2016 – 2026 (US$ Mn)
TABLE 40 Middle East & Africa PVB Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)