The global palm vein biometrics market 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 most reliable, secure, and accurate identity authentication techniques for physical access, data access, and general security. With perpetual growth in networks, devices, 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. Deployment of a biometric identity & access control solution capable of identifying the person behind the password is a major step towards ensuring reliable system security. For few years now, enterprises worldwide have been experimenting with several biometric authentication solutions such as voice recognition, digital signature, and fingerprint & face recognition among others. Although all of the aforementioned biometric solutions offer relatively a greater level of security than traditional passwords, palm vein recognition technology is touted and considered the most accurate and reliable biometric authentication solution currently available in the market. This is because of veins having a wealth of distinct features; thereby making attempt to falsify an identity extremely difficult.
Market Synopsis
BFSI to Dominate; Healthcare to Register Strong Growth
Banking, Financial Services & 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 confidentiality of the information. Thus, adoption of security solutions including biometrics for controlling, managing, identifying, and defying unsolicited threats is highest in BFSI industry vertical. The palm vein recognition technology is garnering strong interest amongst healthcare providers for its ability to allow staff accurately identify patients by allowing them to access 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, easy to use, and convenience offered. In addition, the ongoing trend of ensuring remote access to the information, especially in IT & Telecom vertical has supported the use of security solutions to safeguard off-premise information and client devices. Other industry verticals including government, public sector, education, and consumer electronics are also expected to contribute towards a 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 majorly on the back of austere security regulations and measures that support implementation of technological safeguards across SMEs and large enterprises. In addition, multitude of investments in developing robust security infrastructure combined with higher acceptance to technological innovations is continually leading to the replacement of conventional systems with the 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, majorly attributed to the improving physical security infrastructure and 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, Safran Group, among others.
Historical & Forecast Period
2016 – Historical Year
2017 – Base Year
2018 - 2026 – Forecast Period
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. CAGR (Compounded 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:
Offerings Segment (2016–2026; US$ Mn)
End-use Vertical Segment (2016–2026; US$ Mn)
Geography Segment (2016–2026; US$ Mn)
Key questions answered in this report
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 Palm Vein Biometrics Market Snapshot
2.2. Global Palm Vein Biometrics Market, by Offering, 2017 (US$ Mn)
2.3. Global Palm Vein Biometrics Market, by End-use Vertical, 2017 (US$ Mn)
2.4. Global Palm Vein Biometrics Market, by Geography, 2017 (US$ Mn)
3. Global Palm Vein Biometrics Market Analysis
3.1. Global Palm Vein Biometrics 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 Market Value, by Offering , 2016 – 2026 (US$ Mn)
4.1. Comparative Analysis
4.1.1. Palm Vein Biometrics Market Value, by Offering, 2017 & 2026 (Value %)
4.2. Hardware
4.3. Software
4.4. Services
5. Global Palm Vein Biometrics Market Value, by End-use Vertical , 2016 – 2026 (US$ Mn)
5.1. Comparative Analysis
5.1.1. Palm Vein Biometrics 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 Market Analysis, 2016 – 2026 (US$ Mn)
6.1. North America Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
6.1.1. Hardware
6.1.2. Software
6.1.3. Services
6.2. North America Palm Vein Biometrics 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 Palm Vein Biometrics Market Value, by Country, 2016 – 2026 (US$ Mn)
6.3.1. U.S.
6.3.1.1. U.S. Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
6.3.1.2. U.S. Palm Vein Biometrics 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 Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
6.3.2.2. Rest of North America Palm Vein Biometrics Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
7. Europe Palm Vein Biometrics Market Analysis, 2016 – 2026 (US$ Mn)
7.1. Europe Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
7.1.1. Hardware
7.1.2. Software
7.1.3. Services
7.2. Europe Palm Vein Biometrics 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 Palm Vein Biometrics Market Value, by Region, 2016 – 2026 (US$ Mn)
7.3.1. U.K.
7.3.1.1. U.K. Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
7.3.1.2. U.K. Palm Vein Biometrics Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
7.3.2. Germany
7.3.2.1. Germany Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
7.3.2.2. Germany Palm Vein Biometrics Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
7.3.3. France
7.3.3.1. France Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
7.3.3.2. France Palm Vein Biometrics Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
7.3.4. Rest of Europe
7.3.4.1. Rest of Europe Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
7.3.4.2. Rest of Europe Palm Vein Biometrics Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
8. Asia Pacific Palm Vein Biometrics Market Analysis, 2016 – 2026 (US$ Mn)
8.1. Asia Pacific Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
8.1.1. Hardware
8.1.2. Software
8.1.3. Services
8.2. Asia Pacific Palm Vein Biometrics 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 Palm Vein Biometrics Market Value, by Country, 2016 – 2026 (US$ Mn)
8.3.1. Japan
8.3.1.1. Japan Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
8.3.1.2. Japan Palm Vein Biometrics Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
8.3.2. China
8.3.2.1. China Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
8.3.2.2. China Palm Vein Biometrics Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
8.3.3. India
8.3.3.1. India Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
8.3.3.2. India Palm Vein Biometrics 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 Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
8.3.4.2. Rest of Asia Pacific Palm Vein Biometrics Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
9. Rest of World Palm Vein Biometrics Market Analysis, 2016 – 2026 (US$ Mn)
9.1. Rest of World Palm Vein Biometrics 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 Palm Vein Biometrics 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 Palm Vein Biometrics Market Value, by Region, 2016 – 2026 (US$ Mn)
9.3.1. Latin America
9.3.1.1. Latin America Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
9.3.1.2. Latin America Palm Vein Biometrics Market Value, by End-use Vertical, 2016 – 2026 (US$ Mn)
9.3.2. Middle East & Africa
9.3.2.1. Middle East & Africa Palm Vein Biometrics Market Value, by Offering, 2016 – 2026 (US$ Mn)
9.3.2.2. Middle East & Africa Palm Vein Biometrics 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
FIG. 1 Global Palm Vein Biometrics: Market Segmentation
FIG. 2 Global Palm Vein Biometrics Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global Palm Vein Biometrics Market, by Offering, 2017 (US$ Mn)
FIG. 5 Global Palm Vein Biometrics Market, by End-use Vertical, 2017 (US$ Mn)
FIG. 7 Global Palm Vein Biometrics Market, by Geography, 2017 (US$ Mn)
FIG. 8 Global Palm Vein Biometrics Market Value and Growth, 2016 - 2026, (US$ Mn and % Y-o-Y)
FIG. 9 Attractive Investment Segment: Global Palm Vein Biometrics Market
FIG. 10 Market Positioning of the Leading Vendors, 2017
FIG. 11 Global Palm Vein Biometrics 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 Palm Vein Biometrics Market Value Contribution, by End-use Vertical, 2015 & 2025 (Value %)
FIG. 16 Global Palm Vein Biometrics Market Value and Growth for BFSI Vertical, 2016 - 2026, (US$ Mn)
FIG. 17 Global Palm Vein Biometrics Market Value and Growth for IT & Telecom Vertical, 2016 - 2026, (US$ Mn)
FIG. 18 Global Palm Vein Biometrics Market Value and Growth for Government & Public Sector Vertical, 2016 - 2026, (US$ Mn)
FIG. 19 Global Palm Vein Biometrics Market Value and Growth for Healthcare Vertical, 2016 - 2026, (US$ Mn)
FIG. 20 Global Palm Vein Biometrics Market Value and Growth for Education Vertical, 2016 - 2026, (US$ Mn)
FIG. 21 Global Palm Vein Biometrics Market Value and Growth for Consumer Electronics Vertical, 2016 - 2026, (US$ Mn)
FIG. 22 Global Palm Vein Biometrics Market Value and Growth for Other Verticals, 2016 - 2026, (US$ Mn)
FIG. 23 North America Palm Vein Biometrics Market Value and Growth, 2016 - 2026, (US$ Mn) (Y-o-Y %)
FIG. 24 Europe Palm Vein Biometrics Market Value and Growth, 2016 - 2026, (US$ Mn) (Y-o-Y %)
FIG. 25 Asia Pacific Palm Vein Biometrics Market Value and Growth, 2016 - 2026, (US$ Mn) (Y-o-Y %)
FIG. 26 RoW Palm Vein Biometrics Market Value and Growth, 2016 - 2026, (US$ Mn) (Y-o-Y %)
TABLE 1 Market Snapshot: Global Palm Vein Biometrics 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 Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 6 North America Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 7 North America Palm Vein Biometrics Market Value, by Country, 2016 - 2026 (US$ Mn)
TABLE 8 U.S. Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 9 U.S. Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 10 Rest of North America Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 11 Rest of North America Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 12 Europe Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 13 Europe Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 14 Europe Palm Vein Biometrics Market Value, by Country, 2016 - 2026 (US$ Mn)
TABLE 15 U.K. Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 16 U.K. Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 17 France Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 18 France Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 19 Germany Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 20 Germany Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 21 Rest of Europe Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 22 Rest of Europe Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 23 Asia Pacific Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 24 Asia Pacific Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 25 Asia Pacific Palm Vein Biometrics Market Value, by Country, 2016 - 2026 (US$ Mn)
TABLE 26 China Palm Vein Biometrics Market Value, by Offering, 2015- 2025 (US$ Mn)
TABLE 27 China Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 28 Japan Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 29 Japan Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 30 India Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 31 India Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 32 Rest of Asia Pacific Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 33 Rest of Asia Pacifc Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 34 Rest of World Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 35 Rest of World Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 36 Rest of World Palm Vein Biometrics Market Value, by Region, 2016 - 2026 (US$ Mn)
TABLE 37 Latin America Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 38 Latin America Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
TABLE 39 Middle East & Africa Palm Vein Biometrics Market Value, by Offering, 2016 - 2026 (US$ Mn)
TABLE 40 Middle East & Africa Palm Vein Biometrics Market Value, by End-use Vertical, 2016 - 2026 (US$ Mn)
