PUBLISHER: IMARC | PRODUCT CODE: 1291520
PUBLISHER: IMARC | PRODUCT CODE: 1291520
Palm Vein Biometrics Market by Component, Application, and Region 2023-2028
Market Overview:
The global palm vein biometrics market size reached US$ 1.06 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.72 Billion by 2028, exhibiting a growth rate (CAGR) of 21.50% during 2023-2028. The rising instances of security breaches in the BFSI sector, the growing need for advanced authentication services, and increasing concerns regarding data privacy protection represent some of the key factors driving the market.
Palm vein biometrics refers to an advanced, contactless authentication technology that relies on the vascular patterns of the palm as personal identification data. It works by capturing an image of the vein pattern beneath the skin of an individual using near-infrared light and then comparing and verifying it with the patterns stored in the database for authentication purposes. It involves pairing a biometric scanner with a database server or smart card that contains user information and matches it with the scanned data to provide access. It offers several advantages, such as optimum security, higher accuracy, ease of use, and enhanced reliability. In recent years, palm vein biometrics has gained immense popularity across the globe as a highly secure biometric modality since the data is retrieved from the body, making it difficult to forge.
Palm Vein Biometrics Market Trends:
Due to the rising instances of security breaches, there is a surge in need for advanced security systems across numerous industry verticals, including banking, financial services and insurance (BFSI), government, healthcare, defense, and manufacturing. This, along with the increasing adoption of biometrics for high-security applications, represents the primary factor driving the market growth. Besides this, several favorable initiatives undertaken by governments of various countries to provide unique identity cards to every citizen have augmented the demand for palm vein biometrics. Additionally, the growing business competition across the globe has strengthened the need for securing confidential data among organizations to retain their position in the market. In line with this, the surging utilization of palm vein biometrics in the BFSI sector for secure access control, mobile banking, kiosks, and safe deposit lockers to protect customers against data breaches and identity thefts has catalyzed market growth. Furthermore, there has been widespread product adoption in the healthcare industry for automatic and accurate patient identification, fast retrieval of individual records, and easy patient enrollment. Along with this, the increasing deployment of palm vein biometrics across various government organizations and departments to improve their security, prevent unauthorized access, and combat security issues has propelled market growth. Other factors, including the escalating demand for all-in-one biometric solutions, rising national security concerns, stringent data protection regulations, ongoing product innovations, and continual technological advancements, are also anticipated to provide a positive thrust to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global palm vein biometrics market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on component and application.
Component Insights:
- Hardware
- Software and Services
The report has provided a detailed breakup and analysis of the palm vein biometrics market based on the component. This includes hardware and software and services. According to the report, hardware represented the largest segment.
Application Insights:
- Banking and Financial Sector
- Healthcare
- Home Security
- Commercial Security
- Consumer Electronics
- Education
- Gaming
- Transportation
- Government
A detailed breakup and analysis of the palm vein biometrics market based on the application has also been provided in the report. This includes banking and financial sector, healthcare, home security, commercial security, consumer electronics, education, gaming, transportation, and government. According to the report, the banking and financial sector accounted for the largest market share.
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for palm vein biometrics. Some of the factors driving the North America palm vein biometrics market included its high number of established manufacturing companies, extensive investments in software technologies, rising adoption of biometrics in the homeland and commercial security, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global palm vein biometrics market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include BioEnable Technologies Pvt. Ltd, BioSec Group Ltd., Fujitsu Limited, Identytech Solutions America Inc., iDLink Systems Pte Ltd., M2SYS Technology, Mantra Softech India Pvt Ltd, Matrix Comsec Pvt. Ltd., NEC Corporation, Tyco Security Products (Johnson Controls International plc), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global palm vein biometrics market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global palm vein biometrics market?
- What is the impact of each driver, restraint, and opportunity on the global palm vein biometrics market?
- What are the key regional markets?
- Which countries represent the most attractive palm vein biometrics market?
- What is the breakup of the market based on the component?
- Which is the most attractive component in the palm vein biometrics market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the palm vein biometrics market?
- What is the competitive structure of the global palm vein biometrics market?
- Who are the key players/companies in the global palm vein biometrics market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Palm Vein Biometrics Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Component
- 6.1 Hardware
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Software and Services
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Application
- 7.1 Banking and Financial Sector
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Healthcare
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Home Security
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Commercial Security
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Consumer Electronics
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Education
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
- 7.7 Gaming
- 7.7.1 Market Trends
- 7.7.2 Market Forecast
- 7.8 Transportation
- 7.8.1 Market Trends
- 7.8.2 Market Forecast
- 7.9 Government
- 7.9.1 Market Trends
- 7.9.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 Drivers, Restraints, and Opportunities
- 9.1 Overview
- 9.2 Drivers
- 9.3 Restraints
- 9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 BioEnable Technologies Pvt. Ltd
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.2 BioSec Group Ltd.
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.3 Fujitsu Limited
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.3.3 Financials
- 13.3.3.4 SWOT Analysis
- 13.3.4 Identytech Solutions America Inc.
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.5 iDLink Systems Pte Ltd.
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.6 M2SYS Technology
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.7 Mantra Softech India Pvt Ltd
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.8 Matrix Comsec Pvt. Ltd
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.9 NEC Corporation
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.9.3 Financials
- 13.3.9.4 SWOT Analysis
- 13.3.10 Tyco Security Products (Johnson Controls International plc)
- 13.3.10.1 Company Overview
- 13.3.10.2 Product Portfolio
- 13.3.1 BioEnable Technologies Pvt. Ltd
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
List of Figures
- Figure 1: Global: Palm Vein Biometrics Market: Major Drivers and Challenges
- Figure 2: Global: Palm Vein Biometrics Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Palm Vein Biometrics Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Palm Vein Biometrics Market: Breakup by Component (in %), 2022
- Figure 5: Global: Palm Vein Biometrics Market: Breakup by Application (in %), 2022
- Figure 6: Global: Palm Vein Biometrics Market: Breakup by Region (in %), 2022
- Figure 7: Global: Palm Vein Biometrics (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 8: Global: Palm Vein Biometrics (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 9: Global: Palm Vein Biometrics (Software and Services) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Palm Vein Biometrics (Software and Services) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Palm Vein Biometrics (Banking and Financial Sector) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Palm Vein Biometrics (Banking and Financial Sector) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Palm Vein Biometrics (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Palm Vein Biometrics (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Palm Vein Biometrics (Home Security) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Palm Vein Biometrics (Home Security) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Palm Vein Biometrics (Commercial Security) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Palm Vein Biometrics (Commercial Security) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Palm Vein Biometrics (Consumer Electronics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Palm Vein Biometrics (Consumer Electronics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Palm Vein Biometrics (Education) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Palm Vein Biometrics (Education) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Palm Vein Biometrics (Gaming) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Palm Vein Biometrics (Gaming) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Palm Vein Biometrics (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Palm Vein Biometrics (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Palm Vein Biometrics (Government) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Palm Vein Biometrics (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: North America: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: North America: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: United States: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: United States: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Canada: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Canada: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: Asia-Pacific: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: Asia-Pacific: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: China: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: China: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Japan: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Japan: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: India: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: India: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: South Korea: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: South Korea: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Australia: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Australia: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: Indonesia: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: Indonesia: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: Others: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: Others: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Europe: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Europe: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Germany: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Germany: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: France: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: France: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: United Kingdom: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: United Kingdom: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Italy: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Italy: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Spain: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Spain: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Russia: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Russia: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Others: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Others: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Latin America: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Latin America: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Brazil: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Brazil: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Mexico: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Mexico: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Others: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Others: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Middle East and Africa: Palm Vein Biometrics Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Middle East and Africa: Palm Vein Biometrics Market: Breakup by Country (in %), 2022
- Figure 77: Middle East and Africa: Palm Vein Biometrics Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Global: Palm Vein Biometrics Industry: Drivers, Restraints, and Opportunities
- Figure 79: Global: Palm Vein Biometrics Industry: Value Chain Analysis
- Figure 80: Global: Palm Vein Biometrics Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Palm Vein Biometrics Market: Key Industry Highlights, 2022 & 2028
- Table 2: Global: Palm Vein Biometrics Market Forecast: Breakup by Component (in Million US$), 2023-2028
- Table 3: Global: Palm Vein Biometrics Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 4: Global: Palm Vein Biometrics Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 5: Global: Palm Vein Biometrics Market: Competitive Structure
- Table 6: Global: Palm Vein Biometrics Market: Key Players
