Global Palm Vein Biometrics Market to grow at a CAGR of 22.46% during the period 2016 - 2020; Finds New Report

Report forecast the global palm vein biometrics market to grow at a CAGR of 22.46% during the period 2016-2020.

Security of data and assets is a key concern for enterprises, banks, government organizations, telecommunication, and hospitals as well as for individuals. Keys, identity badges, and numeric keypads have been used traditionally to prevent unauthorized access. With technological advances, two-factor authentication was introduced, where individuals gain access to secure premises after they are authenticated twice on the basis of hardware devices and numeric codes. However, it was easy for hackers to gain access to hardware devices and obtaining numeric codes, which increased security risks.

Palm vein recognition is a contactless technology that compares the palm vein scan stored in the database with the image of palm veins of an individual captured at that instant. This technology is being used by organizations in sectors such as BFSI, transportation, utilities, government, and payment card for identification and authentication of individuals to deter fraudulent activities.

The report covers the present scenario and the growth prospects of the global palm vein biometrics market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of palm vein biometric systems.

The market is divided into the following segments based on geography:

• North America
• APAC
• Europe
• South America
• MEA

According to the report, a number of construction and manufacturing utilities are likely to adopt palm vein recognition technology due to its user-friendliness. Any cuts, bruises, or dust on the hands of a worker might prevent him from gaining access to secure premises using fingerprint recognition technology. Palm vein recognition technology does not have this problem.

Further, the report states that privacy issues with biometric data hinders the market growth.

Global Palm Vein Biometrics Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the Global Palm Vein Biometrics Market:  BioEnable, Fujitsu, M2SYS, and Tyco.

Other Prominent Vendors in the market are: IdentyTech Solutions, iDLink Systems, Imprivata, Mantra Softech, and Matrix Security Solutions.

Market driver

• Availability of cost-effective and user-friendly security solutions
• For a full, detailed list, view our report

Market challenge

• Privacy issues with biometric data
• For a full, detailed list, view our report

Market trend

• Emergence of multi-factor authentication
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 56 pages and 21 Exhibit “Global Palm Vein Biometrics Market 2016 - 2020” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Life cycle analysis, Market opportunities and developments, Market segmentation by end-user, Geographical segmentation, Buying criteria, Value chain, Market trends, Market challenges, Five forces model, Vendor landscape, Appendix.

For more information Visit at: http://mrr.cm/JNp

Related Reports;

Global EEG and ECG Biometrics Market 2016-2020 - Visit at - http://mrr.cm/JNN

Global Multi-modal Biometrics Market 2016-2020 - Visit at - http://mrr.cm/JN