Global Palm Vein Biometrics market to reach USD 2.5 billion by 2027.Global Palm Vein Biometrics market is valued approximately USD 0.6 xx billion in 2020 and is anticipated to grow with a healthy growth rate of more than 22.3 % over the forecast period 2021-2027. APalm Vein Biometrics market is a scanner that scans palm by using infrared light to map the unique vein structure.It captures all the data points of palm and convert them into a unique code that becomes biometric identity.Superior advantages of Palm Vein Biometrics market over other body scanners.pushes the market growth such as by providing accurate personal scaning to ensure identity in exam centers etc For Instance: According to the US National Institute of Standards and Technology (NIST) ,In May 2020, NEC Corporation declared the development of a multimodal biometric identification technology that has been considered as No.1 in scanning tests for identification globally.Increasing demand to secure data and confidential information for organizations enhancing the market of palm vein biometrics market. However, availability of more convenient substitute's biometric methods such as iris, voice and facial recognition impedes the growth of the market over the forecast period of 2021-2027. Also,increasing demand for all-in-one biometric solution and adoption of mobile devices is likely to increase the market growth during the forecast period.

The regional analysis of global Palm Vein Biometrics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.Asia pacificis the leading region across the world in terms of market share owing to increasing demand of all in one biometric solution.Whereas,Asia-Pacific is also anticipated to exhibit highest CAGR over the forecast period 2021-2027. Factors such as increasing demand advanced biometric solution which is more convenient and authenticwould create lucrative growth prospects for the Engine control unitacross Asia-Pacific region.

Major market player included in this report are:
HITACHI, LTD.
NEC CORPORATION
M2SYS TECHNOLOGY
BIOSEC GROUP LTD.
EPORTATION, INC.
D-LINK SYSTEMS PTE LTD.
BIOENABLE TECHNOLOGIES PVT. LTD.
MOFIRIA CORPORATION
DAKAR SOFTWARE SYSTEMS
RECOGTECH B.V.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering:
Hardware
Software & Services
ByProduct:
Finger vein biometrics
Palm Vein Biometrics market
ByAuthentication:
Unimodal biometric system
Multimodal biometric system
By Functionality:
Physical access control & biometric authentication
Logical access control & biometric authentication
Embedded System
By End-user Vertical:
BFSI
Commercial
Industrial
By Application:
Access control & biometric identification
User authentication
OEM terminal devices
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Palm Vein Biometrics market

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors