FB pixel

Fujitsu, M2SYS and iAccess Systems dominating palm vein biometrics market: research

 

The global market for palm vein biometrics is set to grow at a CAGR of 46.6 percent between 2012-2016, according to new research in the Research and Markets catalogue.

According to the report, Global Palm Vein Biometrics Market 2012-2016, Fujitsu, iAccess Systems and M2SYS are currently dominating this space, which is being driven by an increased demand for advanced security systems. The need for improved compatibility and standardization could pose a challenge to the growth of this market, the report notes.

“One of the main trends witnessed in the Global Palm Vein Biometrics market is the increasing number of deployments. The majority of the deployments are taking place in countries such as Brazil, India, Japan, and the US,” a research analyst working on the report said. “The Education and BFSI sectors are the major application segments where the deployment projects have witness drastic increment over the past few years. The continual adoption of palm vein biometric in the end-user segments will tend to increase the growth prospects of the Global Palm Vein Biometrics market during the forecast period.”

It’s not just security demand that’s driving the palm vein market. As we’ve reported extensively, these systems have also seen increased deployment in healthcare and school settings as the nature of many of these systems is that they don’t require a physical touch and so they are a hygienic solution.

BiometricUpdate.com has looked at the success and failure of some of these programs, through the lens of school cafeterias. Read the full feature here. 

Separately-published research also shows growth in demand for physical security systems including biometrics. The market, which has been valued at $55.59 billion in 2013, will grow to $85.51 billion in 2018, representing a CAGR of 9% from 2013 to 2018.

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News

 

Biometrics and injection detection for deepfake defense a rising priority

Biometrics integrations with injection attack detection to defend the latest front in the global battle against fraud, deepfakes, is the…

 

Biometric Update Podcast looks at the road to a global standard for age assurance

Episode 2 of the Biometric Update Podcast is a dispatch from the 2025 Global Age Assurance Standards Summit, held from…

 

WEF launches new DPI initiative focused on emerging tech, including biometrics

Global Digital Public Infrastructure (DPI) initiatives are lagging behind emerging technologies such as AI, which could lead to inefficiencies, bottlenecks…

 

Odds are good for biometrics firms in the global gambling sector

Gambling has always been a vice associated with certain kinds of criminal activity, but the development of the online gambling…

 

New Zealand issues tender for digital ID services accreditation infrastructure

New Zealand’s accredited digital identity services regulator, the Trust Framework Authority (TFA), has published a request for information (RFI) for…

 

Pindrop surpasses $100M in annual recurring revenue, kicks off BU podcast

A release from Atlanta-based voice biometrics firm Pindrop celebrates a milestone: the firm has surpassed US$100 million in Annual Recurring…

Comments

6 Replies to “Fujitsu, M2SYS and iAccess Systems dominating palm vein biometrics market: research”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events