Global Palm Vein Scanner Market

Global Palm Vein Scanner Market Size, Trends & Analysis - Forecasts to 2026 By Authentication (Unimodal Biometric System and Multimodal Biometric System), By End User (Healthcare, BFSI, Business Organisations, Commercial, Military & Defence, and Government), By Offering (Hardware, Software & Services), By Functionality (Logical Access Control & Biometric Authentication, Physical Access Control & Biometric Authentication, and Embedded System), By Product (Finger Vein Biometrics and Palm Vein Biometrics), Competitive Landscape, Company Market Share Analysis, and Competitor Analysis

Category Electronics, Semiconductors and Information & Communication Technology
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Palm Vein Scanner Market: Market Insights

A palm vein scanner alludes to a biometric verification device utilized for scanning vein designs in the palm of a person for verifying the identity. It utilizes infrared light to catch the picture of vein designs situated under the skin. This innovation works on the guideline of contrasting and verifying stored vein design in data sets with the vein design present in the palm of an individual giving a significant degree of precision for perceiving the identity of that person.

Arising better advantages of palm vein scanners over other biometric advancements is causing a rise in sales. Expanding need to secure private data and information for associations is one of the leading drivers. Globally the government is extending its support to encourage the adoption of palm vein scanners. Currently, there is a flooding demand for different biometric identification systems in various applications.

The need to monitor accessibility to properties and applications has evolved. Many organizations now focus on passwords or cards to validate individuals' identities for entry. This conventional approach, though, presents significant barriers. Card failure or fraud, for example, poses security threats. Anyone with the right PIN and card combination can gain entry to inaccessible areas or information. As a result, the increasing use of biometrics for authentication applications is projected to augment market growth.

global palm vein scanner market

Palm Vein Scanner Market: By Authentication

Based on the authentication, the market can be segregated into a unimodal and multimodal biometric system. A multimodal biometric is leading in this segment because these devices use single or multiple sensors to measure two or more distinct biometric attributes. A multimodal scheme combines face and iris features for biometric authentication, regardless of whether the photographs were taken by the single or distinct imaging systems. Since various biometric methodologies could be more suitable for different uses, multimodal biometrics predominate.

Palm Vein Scanner Market: By End User

Given the end-user, the market for palm vein scanner market can be divided into healthcare, BFSI, business organizations, commercial, military and defense, and government. BFSI is leading in this segment due to the rising degree of safety breaches and the expanding level of safety required in BFSI. Numerous BFSI associations are embracing palm vein scanners, which are likewise powering the development of the market. Besides, a few banks and monetary organizations have incorporated biometric advancements, namely palm vein recognition with access control systems on cell phones to offer clients secure admittance to online records.

Palm Vein Scanner Market: By Offering

Based on the offering, the market can be segmented into hardware, software & services. The software & services are leading in the offerings segment. Software including SDKs, APIs, OS, integration software, information management system, and other middleware is fundamental in coordinating a palm vein sensor or sensor innovation into an end service dependent on client necessities. The majority of finger vein and palm vein biometric software and apps are compliant with various operating systems, including Windows, Linux, and Android. Further, the developing acknowledgment of membership models for software among organizations consolidating biometric solutions has prompted their solid adoption on the lookout.

Palm Vein Scanner Market: By Functionality

Based on the functionality, the market can be segmented into logical access control & biometric authentication, physical access control & biometric authentication, and embedded system. The embedded system is leading in this segment. Palm vein authentication technologies may be integrated into a variety of devices, systems, and modules. It has seen an expanding adoption by a few monetary organizations across the world with the end goal of robust authentication.

Palm Vein Scanner Market: By Product

Given the product, the market for palm vein scanner market can be divided into finger vein biometrics and palm vein biometrics. Finger vein biometrics is leading in this segment. While palm vein scanners are more accurate than any existing biometric system, the cost of implementation and the system's sophistication cause organization’s to opt for other biometric solutions namely finger vein biometrics.

asia pacific palm vein scanner market

Palm Vein Scanner Market: By Region

As per the geographical analysis, the market of palm vein scanner can be classified into North America (the US, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa and Central South America. The market for palm vein scanners is prospering all through the globe with significant demands from North America and the Asia Pacific. It is anticipated that North America will rule the market owing to the rising requirement for information security in banks and hospitals. Institutions in the region are also showing an increasing interest in implementing schemes that use biometric features to classify individuals. Many BFSI organizations are implementing palm vein biometrics, which is accelerating the region's business growth. Numerous startups in the region are also engaging in innovative products. Thus accelerating the demand for palm vein scanners in the North American region.

The increasing demands from the BSFI domain of China, Japan, and India are flooding the development in the Asia Pacific region thus, making it a leader in the terms of CAGR. Rising government activities are adding their critical commitments towards the market progress. In India and China, the public authorities are investing funds and resources into this innovation for private grants, identification confirmation, public enrolment, and so forth. Moreover, rising frauds, online scams, and cyber theft are stressing the public authority to install such scanners for guaranteeing the security of information.

Palm Vein Scanner Market Share and Competitor Analysis

NEC Corporation, M2SYS Technology, BioSec Group Ltd., Fujitsu Ltd., IdLink Systems Pte Ltd., Bioenable Technologies Pvt. Ltd., Mofiria Corporation, Dakar Software Systems, Eportation, Inc., and Hitachi, Ltd., are a few of the top players in the palm vein scanner market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1   Methodology

1.1    Market Scope & Definitions

1.2    Estimates & Forecast Calculation

1.3    Historical Data Overview and Validation

1.4    Data Sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Report Outlook

2.1    Palm Vein Scanner Industry Overview, 2016-2026

2.1.1    Industry Overview

2.1.2    Authentication Overview

2.1.3    Offering Overview

2.1.4    End User Type Overview

2.1.5    Functionality Overview

2.1.6    Product Overview

2.1.7    Regional Overview

Chapter 3   Palm Vein Scanner Market Trends

3.1    Market Segmentation

3.2    Industry Background, 2016-2026

3.3    Market Key Trends

3.3.1    Positive Trends

3.3.1.1    Technology advancement in electronics, semiconductors, information & communication technology industry

3.3.1.2    Increasing expenditure on electronics, semiconductors, information & communication technology

3.3.2    Industry Challenges

3.3.2.1    Limited Study and Industry Participants

3.4    Prospective Growth Scenario

3.4.1    Authentication Growth Scenario

3.4.2    Offering Growth Scenario

3.4.3    End-User Growth Scenario

3.4.4    Functionality Overview

3.4.5    Product Overview

3.5    COVID-19 Influence over Industry Growth

3.6    Porter’s Analysis

3.7    PESTEL Analysis

3.8    Value Chain & Supply Chain Analysis

3.9    Regulatory Framework

3.9.1    North America

3.9.2    Europe

3.9.3    APAC

3.9.4    LATAM

3.9.5    MEA

3.10    Technology Overview

3.11    Market Share Analysis, 2020

3.11.1    Company Positioning Overview, 2020

Chapter 4   Palm Vein Scanner Market, By Authentication

4.1    Authentication Outlook

4.2    Unimodal Biometric System

4.2.1    Market Size, By Region, 2016-2026 (USD Million)

4.3    Multimodal Biometric System

4.3.1    Market Size, By Region, 2016-2026 (USD Million)

Chapter 5   Palm Vein Scanner Market, By Offering

5.1    Offering Outlook

5.2    Hardware

5.2.1    Market Size, By Region, 2016-2026 (USD Million)

5.3    Services

          5.3.1    Market Size, By Region, 2016-2026 (USD Million)

5.4     Software

          5.4.1     Market Size, By Region, 2016-2026 (USD Million)

Chapter 6   Palm Vein Scanner Market, By End-User

6.1    End-User Outlook

6.2    Healthcare

          6.2.1     Market size, By Region, 2016-2026 (USD Million)

6.3    BFSI

          6.3.1     Market size, By Region, 2016-2026 (USD Million)

6.4    Business Organisations

          6.4.1     Market size, By Region, 2016-2026 (USD Million)

6.5    Commercial

          6.5.1     Market size, By Region, 2016-2026 (USD Million)

6.6    Military and Defence

         6.6.1      Market size, By Region, 2016-2026 (USD Million)

6.7    Government

         6.7.1      Market size, By Region, 2016-2026 (USD Million)

Chapter 7   Palm Vein Scanner Market, By Functionality

7.1    Functionality Outlook

7.2    Logical Access Control & Biometric Authentication

         7.2.1      Market size, By Region, 2016-2026 (USD Million)

7.3    Physical Access Control & Biometric Authentication

         7.3.1      Market size, By Region, 2016-2026 (USD Million)

7.4    Embedded System

         7.4.1      Market size, By Region, 2016-2026 (USD Million)

Chapter 8 Palm Vein Scanner Market, By Product

8.1     Product Outlook

8.2     Finger Vein Biometrics

         8.2.1     Market size, By Region, 2016-2026 (USD Million)

8.3    Palm Vein Biometrics

         8.3.1     Market size, By Region, 2016-2026 (USD Million)

Chapter 9 Palm Vein Scanner Market, By Region

9.1    Regional outlook

9.2    North America

9.2.1    Market Size, By Country 2016-2026 (USD Million)

9.2.2    Market Size, By Authentication, 2016-2026 (USD Million)

9.2.3    Market Size, By Offering, 2016-2026 (USD Million)

9.2.4    Market Size, By End-User, 2016-2026 (USD Million)

9.2.5    Market Size, By Functionality, 2016-2026 (USD Million)

9.2.6    Market Size, By Product, 2016-2026 (USD Million)

9.2.7    U.S.

9.2.7.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.2.7.2    Market Size, By Offering, 2016-2026 (USD Million)

9.2.7.3    Market Size, By End-User, 2016-2026 (USD Million)

9.2.7.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.2.7.5    Market Size, By Product, 2016-2026 (USD Million)

9.2.8    Canada

9.2.8.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.2.8.2    Market Size, By Offering, 2016-2026 (USD Million)

9.2.8.3    Market Size, By End-User, 2016-2026 (USD Million)

9.2.8.5    Market Size, By Functionality, 2016-2026 (USD Million)

9.2.8.6    Market Size, By Product, 2016-2026 (USD Million)

9.3    Europe

9.3.1    Market Size, By Country 2016-2026 (USD Million)

9.3.2    Market Size, By Authentication, 2016-2026 (USD Million)

9.3.3    Market Size, By Offering, 2016-2026 (USD Million)

9.3.4    Market Size, By End-User, 2016-2026 (USD Million)

9.3.5    Market Size, By Functionality, 2016-2026 (USD Million)

9.3.6    Market Size, By Product, 2016-2026 (USD Million)

9.3.7    Germany

9.3.7.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.3.7.2    Market Size, By Offering, 2016-2026 (USD Million)

9.3.7.3    Market Size, By End-User, 2016-2026 (USD Million)

9.3.7.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.3.7.5    Market Size, By Product, 2016-2026 (USD Million)

9.3.8    UK

9.3.8.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.3.8.2    Market Size, By Offering, 2016-2026 (USD Million)

9.3.8.3    Market Size, By End-User, 2016-2026 (USD Million)

9.3.8.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.3.8.5    Market Size, By Product, 2016-2026 (USD Million)

9.3.9    France

9.3.9.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.3.9.2    Market Size, By Offering, 2016-2026 (USD Million)

9.3.9.3    Market Size, By End-User, 2016-2026 (USD Million)

9.3.9.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.3.9.5    Market Size, By Product, 2016-2026 (USD Million)

9.3.10    Italy

9.3.10.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.3.10.2    Market Size, By Offering, 2016-2026 (USD Million)

9.3.10.3    Market Size, By End-User, 2016-2026 (USD Million)

9.3.10.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.3.10.5    Market Size, By Product, 2016-2026 (USD Million)

9.3.11   Spain

9.3.11.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.3.11.2    Market Size, By Offering, 2016-2026 (USD Million)

9.3.11.3    Market Size, By End-User, 2016-2026 (USD Million)

9.3.11.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.3.11.5    Market Size, By Product, 2016-2026 (USD Million)

9.3.12    Russia

9.3.12.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.3.12.2    Market Size, By Offering, 2016-2026 (USD Million)

9.3.12.3    Market Size, By End-User, 2016-2026 (USD Million)

9.3.12.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.3.12.5    Market Size, By Product, 2016-2026 (USD Million)

9.4    Asia Pacific

9.4.1    Market Size, By Country 2016-2026 (USD Million)

9.4.2    Market Size, By Authentication, 2016-2026 (USD Million)

9.4.3    Market Size, By Offering, 2016-2026 (USD Million)

9.4.4    Market Size, By End-User, 2016-2026 (USD Million)

9.4.5    Market Size, By Functionality, 2016-2026 (USD Million)

9.4.6    Market Size, By Product, 2016-2026 (USD Million)

9.4.7    China

9.4.7.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.4.7.2    Market Size, By Offering, 2016-2026 (USD Million)

9.4.7.3    Market Size, By End-User, 2016-2026 (USD Million)

9.4.7.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.4.7.5    Market Size, By Product, 2016-2026 (USD Million)

9.4.8    India

9.4.8.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.4.8.2    Market Size, By Offering, 2016-2026 (USD Million)

9.4.8.3    Market Size, By End-User, 2016-2026 (USD Million)

9.4.8.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.4.8.5    Market Size, By Product, 2016-2026 (USD Million)

9.4.9    Japan

9.4.9.1    Market Size, By Authentication, 2016-2026 (USD Milli9n)

9.4.9.2    Market Size, By Offering, 2016-2026 (USD Million)

9.4.9.3    Market Size, By End-User, 2016-2026 (USD Million)

9.4.9.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.4.9.5    Market Size, By Product, 2016-2026 (USD Million)

9.4.10    Australia

9.4.10.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.4.10.2    Market size, By Offering, 2016-2026 (USD Million)

9.4.10.3    Market Size, By End-User, 2016-2026 (USD Million)

9.4.10.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.4.10.5    Market Size, By Product, 2016-2026 (USD Million)

9.4.11    South Korea

9.4.11.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.4.11.2    Market Size, By Offering, 2016-2026 (USD Million)

9.4.11.3    Market Size, By End-User, 2016-2026 (USD Million)

9.4.11.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.4.11.5    Market Size, By Product, 2016-2026 (USD Million)

9.5    Latin America

9.5.1    Market Size, By Country 2016-2026 (USD Million)

9.5.2    Market Size, By Authentication, 2016-2026 (USD Million)

9.5.3    Market Size, By Offering, 2016-2026 (USD Million)

9.5.4    Market Size, By End-User, 2016-2026 (USD Million)

9.5.5    Market Size, By Functionality, 2016-2026 (USD Million)

9.5.6    Market Size, By Product, 2016-2026 (USD Million)

9.5.7    Brazil

9.5.7.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.5.7.2    Market Size, By Offering, 2016-2026 (USD Million)

9.5.7.3    Market Size, By End-User, 2016-2026 (USD Million)

9.5.7.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.5.7.5    Market Size, By Product, 2016-2026 (USD Million)

9.5.8    Mexico

9.5.8.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.5.8.2    Market Size, By Offering, 2016-2026 (USD Million)

9.5.8.3    Market Size, By End-User, 2016-2026 (USD Million)

9.5.8.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.5.8.5    Market Size, By Product, 2016-2026 (USD Million)

9.5.9    Argentina

9.5.9.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.5.9.2    Market Size, By Offering, 2016-2026 (USD Million)

9.5.9.3    Market Size, By End-User, 2016-2026 (USD Million)

9.5.9.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.5.9.5    Market Size, By Product, 2016-2026 (USD Million)

9.6    MEA

9.6.1    Market Size, By Country 2016-2026 (USD Million)

9.6.2    Market Size, By Authentication, 2016-2026 (USD Million)

9.6.3    Market Size, By Offering, 2016-2026 (USD Million)

9.6.4    Market Size, By End-User, 2016-2026 (USD Million)

9.6.5    Market Size, By Functionality, 2016-2026 (USD Million)

9.6.6    Market Size, By Product, 2016-2026 (USD Million)

9.6.7    Saudi Arabia

9.6.7.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.6.7.2    Market Size, By Offering, 2016-2026 (USD Million)

9.6.7.3    Market Size, By End-User, 2016-2026 (USD Million)

9.6.7.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.6.7.5    Market Size, By Product, 2016-2026 (USD Million)

9.6.8    UAE

9.6.8.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.6.8.2    Market Size, By Offering, 2016-2026 (USD Million)

9.6.8.3    Market Size, By End-User, 2016-2026 (USD Million)

9.6.8.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.6.8.5    Market Size, By Product, 2016-2026 (USD Million)

9.6.9    South Africa

9.6.9.1    Market Size, By Authentication, 2016-2026 (USD Million)

9.6.9.2    Market Size, By Offering, 2016-2026 (USD Million)

9.6.9.3    Market Size, By End-User, 2016-2026 (USD Million)

9.6.9.4    Market Size, By Functionality, 2016-2026 (USD Million)

9.6.9.5    Market Size, By Product, 2016-2026 (USD Million)

Chapter 8   Company Landscape

8.1    Competitive Analysis, 2020

8.2    NEC Corporation

8.2.1    Company Overview

8.2.2    Financial Analysis

8.2.3    Strategic Positioning

8.2.4    Info Graphic Analysis

8.3    M2SYS Technology

8.3.1    Company Overview

8.3.2    Financial Analysis

8.3.3    Strategic Positioning

8.3.4    Info Graphic Analysis

8.4    BioSec Group Ltd. 

8.4.1    Company Overview

8.4.2    Financial Analysis

8.4.3    Strategic Positioning

8.4.4    Info Graphic Analysis

8.5    Fujitsu Ltd. 

8.5.1    Company Overview

8.5.2    Financial Analysis

8.5.3    Strategic Positioning

8.5.4    Info Graphic Analysis

8.6    IdLink Systems Pte Ltd.

8.6.1    Company Overview

8.6.2    Financial Analysis

8.6.3    Strategic Positioning

8.6.4    Info Graphic Analysis

8.7    Bioenable Technologies Pvt. Ltd.

8.7.1    Company Overview

8.7.2    Financial Analysis

8.7.3    Strategic Positioning

8.7.4    Info Graphic Analysis

8.8    Mofiria Corporation

8.8.1    Company Overview

8.8.2    Financial Analysis

8.8.3    Strategic Positioning

8.8.4    Info Graphic Analysis

8.9    Dakar Software Systems

8.9.1    Company Overview

8.9.2    Financial Analysis

8.9.3    Strategic Positioning

8.9.4    Info Graphic Analysis

8.10    Eportation, Inc.

8.10.1    Company Overview

8.10.2    Financial Analysis

8.10.3    Strategic Positioning

8.10.4    Info Graphic Analysis

8.11    Hitachi, Ltd.

8.11.1    Company Overview

8.11.2    Financial Analysis

8.11.3    Strategic Positioning

8.11.4    Info Graphic Analysis  

The Global Palm Vein Scanner Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Palm Vein Scanner Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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