The global palm vein biometrics market is anticipated to grow at a considerable CAGR of 22.1% during the forecast period. Multiple options available for biometric identification are influencing companies to choose and adopt multifactor authentication to reduce the probability of fraud even further. Such trends are also expected to influence market growth. For instance, Bharat Petroleum Corporation Limited in India is using palm vein recognition technology to keep track of employees and grant authorized access to them. Furthermore, in 2018, Fujitsu, for example, announced that its palm vein authentication technology would be deployed to its employees in Japan. Wherein, Employees will be able to obtain access to facilities and log in to their PCs using only their hands, replacing password-based security methods.
Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in November 2019, Fujitsu has begun to sell the FUJITSU Security Solution AuthConductor V2, which provides customers with comprehensive biometric authentication capabilities using a variety of authentication methods, including palm vein authentication. This product is fully scalable to support use by anywhere from some people to organizations with tens of thousands of users, and it includes facial authentication, fingerprint authentication, and IC card authentication for PC logons, in addition to providing a unified palm vein authentication office environment. Fujitsu now offers customers the convenience of safe and flexible solutions for a wide range of use cases and authentication scenarios with the release of this enhanced solution.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2022
- Forecast period- 2023-2029
Segment Covered-
- By Type
- By Application
Regions Covered
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Fujitsu Ltd, BioEnable Technologies Pvt Ltd, Hitachi Ltd, and, Matrix Comsec Pvt. Ltd.
Palm Vein Biometrics Market Report by Segment
By Type
- Hardware
- Software and Solution
By Application
- Healthcare
- BFSI
- Banking
- Commercial
- Others (education)
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Palm Vein Biometrics Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- 3M Cogent, Inc.
- Advancive Technology Solutions Inc.
- BioEnable Technologies Pvt. Ltd
- BioSec Group Ltd
- Dakar Software Systems
- Eportation, Inc.
- Fujitsu Ltd.
- Hitachi Ltd
- ID Link
- IdentyTech Solutions America Inc.
- Idlink Systems Pte Ltd.
- Imprivata Inc.
- M2sys Technology Inc
- Mantra Softech (India) Pvt Ltd
- Matrix Comsec Pvt. Ltd
- Mofiria Corp
- NEC Corp
- Recogtech B.V.
- Safran SA
- Tyco International plc.
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