Albany, NY -- (SBWIRE) -- 04/28/2016 -- About Palm Vein Biometrics

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.

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

Covered in this report

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

Technavio's report, 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.

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Key vendors
BioEnable
Fujitsu
M2SYS
Tyco

Other prominent vendors
IdentyTech Solutions
iDLink Systems
Imprivata
Mantra Softech
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?

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