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Keyo launches handheld palm vein biometrics scanner into fast-growing market

ABI Research forecasts $9B in biometric hardware revenue by 2027
Keyo launches handheld palm vein biometrics scanner into fast-growing market
 

A new device has been launched by Keyo to bring seamless biometric identification to a range of use cases, including payments, access control, ticketing, identification, and time and attendance. The market for specialized biometric devices is forecast for major growth, meanwhile.

The Keyo Wave+ handheld palm vein scanner features a smartphone-sized screen, SOC2-compliant data protection, and flexibility to support bespoke applications. It can also be mounted to a countertop or wall, according to the announcement, and be scaled to billions of users.

The company is also offering no-code integration tools to help customers without large technical teams adopt palm vein biometrics.

Keyo points to retail stores, offices, hospitals, stadiums, resorts and airports as possible adopters.

The device follows the launch of the original Wave device, a desktop palm vein biometrics scanner launched in late-2022.

“Building a biometric hand scanner capable of scaling to billions of users is a huge milestone for us, and is critical for our large enterprise customers who need to support global footprints,” says Jaxon Klein, co-founder and CEO of Keyo. “I am so excited to see partners already developing innovative solutions leveraging the Keyo Wave+ and its customizable user interface for everything from processing payments, to redeeming tickets at arenas, to entering office complexes. The Wave+ is a game changer.”

Keyo says that is has deployed more than 20,000 devices around the world since its 2015 founding.

Biometric hardware to reach $9B by 2027

Biometric hardware, in the form of specialized devices and smartphones, is forecast by ABI Research to grow from $7 billion in 2022 to $9 billion in 2027, with rapid increases in vein biometrics, as well as face, voice, ECG and gesture modalities.

Revenue from fingerprint sensors will make up $1.5 billion of this market, according to the forecast, maintaining a steady pace.

The “Biometric Technologies and Applications” report predicts that biometric locks will make up the largest gain of any device type, rising from 9.3 million shipments last year to 35.5 million. Border control is another growth area, with egate revenues expected to increase at a 12.8 percent compound annual growth rate.

“Given convenience and user experience, we see a trend of biometric verification often going through a personal device where possible, that being using your smartphone or other to capture or verify your own biometric data, where apps and web pages increasingly incorporate biometric means of authentication as a password replacement or way to verify oneself,” ABI Research Analyst Lucas Stewart explains. “Alongside the usability factor, this trend is underpinned by a clear need for mobility. In terms of standalone biometric devices, the need for mobility in these larger scale kits manifests with movement toward more handheld and portable devices.”

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