Vein Recognition Biometrics Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029

Published on : Feb-2020 | List of Tables : 93 | List of Figures : 142 | No. of Pages : 170 | Report Code : FACT1829MR | Format :

Vein Recognition Biometrics in BFSI Sector to Witness Robust Growth

Growing incidences of data breach and theft are raising concerns regarding security measures specifically in the finance industry. Therefore, vein recognition biometrics are a suitable and reliable solution as they are used for security purposes in the BFSI sector to protect customers from data theft and identity theft. Banks and financial institutions in developing countries, such as India, China, Argentina, Mexico, Brazil, and South Africa are adopting vein recognition biometrics for verifying customer’s identities. Vein recognition biometrics are relatively more efficient and accurate than the other types of biometric systems and exhibit lower False Acceptance Rate (FAR) and False Rejection Rate (FRR) which is a vital reason behind a surge in the demand for these systems.

Banking, Financial Services and Insurance (BFSI) sector is estimated to create an absolute dollar opportunity worth US$ 704 Mn and is foreseen to cross the US$ 800 Mn mark by the end of the forecast period. The healthcare sector is predicted to grow around 2X times faster than the manufacturing sector and is expected to capture a market share of 9% by the end of the forecast period.

vein recognition biometrics market by sector regional impact analaysis

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Finger Vein Recognition Biometrics to Account for Major Chunk of Market Share

Finger vein recognition is a physiological biometric used for analyzing individuals based on their physical characteristics and attributes of vein patterns. The finger vein recognition has higher accuracy as compared to other identification biometrics because vein images remain unchanged despite aging, and are difficult to forge.

The finger vein recognition segment is expected to cross US$ 600 Mn mark by the end of the decade by contributing over 60% in the overall value opportunity. On the other hand, palm vein recognition is estimated to create an absolute dollar opportunity worth US$ 522 Mn and is anticipated to grow at a CAGR of 21.7% during the forecast period.

vein recognition biometrics market share analysis by technology

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East Asia to Occupy One-Third of Global Vein Recognition Biometrics Revenue

East Asia is foreseen to hold the major share of the global vein recognition biometrics market during the forecast period. Increasing adoption of vein recognition biometrics technology in countries such as China and Japan to avoid crimes such as thefts and burglaries are increasing spending on developing firewalls, encryption and secure access devices. This is expected to contribute to the growth of vein recognition biometrics market in this region. For instance, Bank of China in Hong Kong is planning to bring finger vein recognition to all the bank ATM, as finger vein recognition has high accuracy and it cannot be forged. Adoption of finger vein recognition will increase demand during the forecast period

East Asia is estimated to create an absolute dollar opportunity worth US$ 328 Mn, throughout the forecast duration. Besides, Europe vein recognition biometrics market is estimated to account for 2/5th of the overall absolute dollar opportunity created in the global market by the 2029 end. Europe is projected to be the fastest-growing region during the forecast period, as more than half of the customers are willing to switch their accounts to financial institutions that offer authentication biometrics services.

Partnership & Product Innovations to Enhance Market Resiliency

Industry leaders are continuously focusing on new launches of enhanced vein recognition biometrics with more reliability and accuracy. The partnership will help the industry leaders to expand their business operations and also develop innovative solutions in the vein recognition biometrics market. For instance,

  • In January 2020, Hitachi Ltd partnered with customer identity and access management solutions provider Ubisecure for making hand gesture technology using finger vein recognition within Ubisecure's identity-as-a-Service (IDaaS)
  • In November 2019, Hitachi Ltd launched a finger vein scanner for the leader in the banking sector, Barclays. Newly developed finger vein scanner is portable and compact enough to help customers  access their banking facilities easily and securely in minimum time
  • In May 2018, Imprivata formed a partnership with Vecna, a provider of patient self-service solutions to integrate its palm vein recognition system to Vecna’s sites for automated patient check-in authentication

Global Vein Recognition Biometrics Market – Scope of the Report

The vein recognition biometrics market is anticipated to observe a significant growth in the forecast period of 2019 to 2029, according to the Fact.MR study. The study propounds key trends that are currently shaping the growth of the vein recognition biometrics market. This newly published and insightful report sheds light on the key dynamics, which are expected to transform the future of the vein recognition biometrics market. This, in turn, is creating flourishing avenues for prominent companies as well as emerging players associated with the manufacturing of vein recognition biometrics.

The vein recognition biometrics market study is a sinuous market intelligence on the key drivers, challenges, industry trends and opportunities, which is likely to influence the growth trajectory of the vein recognition biometrics market. The report initially imparts an overview of the vein recognition biometrics market, considering current and future prospects in growth, to unveil attractive facets pertaining to the adoption of vein recognition biometrics across key regional markets.

An in-depth assessment of a few of the vein recognition biometrics manufacturers offered in the report enables the report readers to gain detailed insights that are derived from vein recognition biometrics manufacturers across regional markets. A list of key companies operating in the vein recognition biometrics market provided in the report adds to the credibility of this exhaustive research study.

Global Vein Recognition Biometrics Market: Opportunity Analysis

The report offers a detailed study of different factors influencing demand, sales, and revenue generation in the vein recognition biometrics market around the world. The opportunity analysis included in the report is beneficial for readers to better understand opportunities in the vein recognition biometrics industry, which in turn, is likely to trigger the adoption of vein recognition biometrics. An elaborated cost structure analysis provides the report with innate completeness, and analysis offered on the cost structure involves all the regional markets incorporated.

A detailed forecast on the global vein recognition biometrics market has also been offered by experts, who have categorized market forecasts into a likely scenario, a conservative scenario, and an optimistic scenario regarding adoption and involvement of the global market during the forecast period. Analysis and assessment of price point by region has also been included in this study. The study also exerts details on aspects impacting strategies of manufacturers within the global vein recognition biometrics market.

Global Vein Recognition Biometrics Market: Segmentation

Segmentation table of the global vein recognition biometrics market has been provided below on the basis of technology, sector, solution and region.

Technology

Sector

Solution

Region

Finger Vein Recognition

BFSI

Hardware

North America

Palm Vein Recognition

Healthcare

Software

Latin America

Eye Vein Recognition

Manufacturing

Services

Europe

 

Services, Retail & Other Corporate

 

East Asia

 

Transportation & Utilities

 

South East Asia

 

Others

 

Oceania

 

 

 

Middle East and Africa

Global Vein Recognition Biometrics Market: Analysis on Market Size Evaluation

Market valuation at the global and regional scale for the global vein recognition biometrics market is offered in terms of “US$ Bn.” A Y-o-Y growth comparison on the key vein recognition biometrics market segments, along with the market attractiveness assessment quantifies insights delivered in the report. Metrics mentioned above are also tracked based on consumption across several regions where vein recognition biometrics is witnessing a growing demand.

Global Vein Recognition Biometrics Market: Scrutinized Assessment on Regional Segments

Weighted chapters have been included in the report on the global vein recognition biometrics market, which imparts a forecast on the regional markets recognizing the regional macros (business, economic and political environment outlook), which are expected to have an impact on the growth on the global vein recognition biometrics market in the near future.

Country-specific assessment on the demand for vein recognition biometrics has also been provided for each regional market, along with the market size valuation, price point assessment, price index, and impact analysis of key regional and country-wise dynamics. Y-o-Y growth projections have also been offered on all regional markets that are incorporated in the report.

Global Vein Recognition Biometrics Market: In-depth Analysis on Competitive Landscape

The report concludes with a weighted chapter on the competition landscape considering up-to-date and essential developments related to market players, who are predominantly engaging in the production and distribution of vein recognition biometrics, along with company’s strategies, identification, and analysis. Market share comparison and analysis of these market players offered in the report enables readers to devise strategies for their businesses.

The intensity mapping of the market players operating in the global vein recognition biometrics market provides readers with actionable intelligence, which helps in understanding the current market status and prospects determining the competition levels in the global vein recognition biometrics market.

1. Global Vein Recognition Biometrics Market - Executive Summary

    1.1. Global Market Overview

    1.2. Global Vein Recognition Biometrics Market – Regional Overview

    1.3. Global Vein Recognition Biometrics Market – Opportunity Assessment

    1.4. Fact.MR Analysis

2. Global Vein Recognition Biometrics Booth Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Introduction and Definition

3. Market Background

    3.1. Macro - Economic Factors

    3.2. Global Physical Access Control Market Analysis-Summary

    3.3. Biometrics Comparison

    3.4. Relative Market Maturity for Different Biometrics

    3.5. Advantages & Disadvantages of Vein Recognition

    3.6. Supply Chain Analysis

    3.7. Biometric Technology Installation Per Thousand Fingerprint Biometric Installed

    3.8. Recent Developments in Vein Recognition Biometrics  Market

    3.9. Key Challenges

    3.10. Forecast Factors: Relevance and Impact

    3.11. Market Dynamics

        3.11.1. Drivers

        3.11.2. Restraints

        3.11.3. Opportunity Analysis

    3.12. Biometric Technology Installation Per Thousand Fingerprint Biometric Installed

4. Global Vein Recognition Biometrics Market Demand (US$ Mn) Analysis 2014-2018 and Forecast, 2019-2029

    4.1. Historical Market Value (US$ Mn) Projections, 2014-2018

    4.2. Current and Future Market Value (US$ Mn) Projections, 2019-2029

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029, by Technology

    5.1. Introduction / Key Findings

    5.2. Historical Market Size (US$ Mn) Analysis By Inspection, 2014 - 2018

    5.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Inspection, 2019 - 2029

        5.3.1.  Finger Vein Recognition

            5.3.1.1. Light Reflection 

            5.3.1.2. Light Transmission

        5.3.2.  Palm Vein Recognition

        5.3.3.  Eye Vein Recognition

    5.4. Market Attractiveness Analysis By Technology

6. Global Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029, by Sector

    6.1. Introduction / Key Findings

    6.2. Historical Market Size (US$ Mn) Analysis By Inspection, 2014 - 2018

    6.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Inspection, 2019 - 2029

        6.3.1.  BFSI

        6.3.2.  Healthcare

        6.3.3.  Manufacturing

        6.3.4.  Services, Retail & Other Corporate

        6.3.5.  Transportation & Utilities

        6.3.6.  Others

    6.4. Market Attractiveness Analysis By Sector

7. Global Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029, by Solution

    7.1. Introduction / Key Findings

    7.2. Historical Market Size (US$ Mn) Analysis By Bridge Category, 2014 - 2018

    7.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Bridge Category, 2019 - 2029

        7.3.1.  Hardware

        7.3.2.  Software

        7.3.3.  Services

    7.4. Market Attractiveness Analysis By Services

8. Global Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029, by Region

    8.1. Historical Market Size (US$ Mn) Analysis By Region, 2014 - 2018

    8.2. Current Market Size (US$ Mn) Analysis and Forecast By Region, 2019 - 2029

        8.2.1.  North America

        8.2.2.  Latin America

        8.2.3.  Europe

        8.2.4.  East Asia

        8.2.5.  South Asia

        8.2.6.  Oceania

        8.2.7.  MEA

    8.3. Market Attractiveness Analysis By Region

9. North America Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029

    9.1. Introduction

    9.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    9.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        9.3.1. By Country

            9.3.1.1. U.S.

            9.3.1.2. Canada

        9.3.2. By Technology

            9.3.2.1. Light Reflection 

            9.3.2.2. Light Transmission

        9.3.3. By Sector

        9.3.4. By Solution

    9.4. Market Attractiveness Analysis

        9.4.1. By Technology

            9.4.1.1. Light Reflection 

            9.4.1.2. Light Transmission

        9.4.2. By Sector

        9.4.3. By Solution

10. Latin America Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029

    10.1. Introduction

    10.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    10.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        10.3.1. By Country

            10.3.1.1. Brazil

            10.3.1.2. Mexico

            10.3.1.3. Rest of Latin America

        10.3.2. By Technology

            10.3.2.1. Light Reflection 

            10.3.2.2. Light Transmission

        10.3.3. By Sector

        10.3.4. By Solution

    10.4. Market Attractiveness Analysis

        10.4.1. By Technology

            10.4.1.1. Light Reflection 

            10.4.1.2. Light Transmission

        10.4.2. By Sector

        10.4.3. By Solution

11. Europe Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029

    11.1. Introduction

    11.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    11.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        11.3.1. By Country

            11.3.1.1. Germany

            11.3.1.2. Italy

            11.3.1.3. France

            11.3.1.4. UK

            11.3.1.5. Spain

            11.3.1.6. BENELUX

            11.3.1.7. Russia

            11.3.1.8. Rest of Europe

        11.3.2. By Technology

            11.3.2.1. Light Reflection 

            11.3.2.2. Light Transmission

        11.3.3. By Sector

        11.3.4. By Solution

    11.4. Market Attractiveness Analysis

        11.4.1. By Technology

            11.4.1.1. Light Reflection 

            11.4.1.2. Light Transmission

        11.4.2. By Sector

        11.4.3. By Solution

12. East Asia Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029

    12.1. Introduction

    12.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    12.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        12.3.1. By Country

            12.3.1.1. China

            12.3.1.2. Japan

            12.3.1.3. South Korea

        12.3.2. By Technology

            12.3.2.1. Light Reflection 

            12.3.2.2. Light Transmission

        12.3.3. By Sector

        12.3.4. By Solution

    12.4. Market Attractiveness Analysis

        12.4.1. By Technology

            12.4.1.1. Light Reflection 

            12.4.1.2. Light Transmission

        12.4.2. By Sector

        12.4.3. By Solution

13. South Asia Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029

    13.1. Introduction

    13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    13.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        13.3.1. By Country

            13.3.1.1. India

            13.3.1.2. Thailand

            13.3.1.3. Indonesia

            13.3.1.4. Malaysia

            13.3.1.5. Rest of South Asia

        13.3.2. By Technology

            13.3.2.1. Light Reflection 

            13.3.2.2. Light Transmission

        13.3.3. By Sector

        13.3.4. By Solution

    13.4. Market Attractiveness Analysis

        13.4.1. By Technology

            13.4.1.1. Light Reflection 

            13.4.1.2. Light Transmission

        13.4.2. By Sector

        13.4.3. By Solution

14. Oceania Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029

    14.1. Introduction

    14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        14.3.1. By Country

            14.3.1.1. Australia

            14.3.1.2. New Zealand

        14.3.2. By Technology

            14.3.2.1. Light Reflection 

            14.3.2.2. Light Transmission

        14.3.3. By Sector

        14.3.4. By Solution

    14.4. Market Attractiveness Analysis

        14.4.1. By Technology

            14.4.1.1. Light Reflection 

            14.4.1.2. Light Transmission

        14.4.2. By Sector

        14.4.3. By Solution

15. MEA Vein Recognition Biometrics Market Analysis 2014-2018 and Forecast, 2019-2029

    15.1. Introduction

    15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018

    15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029

        15.3.1. By Country

            15.3.1.1. GCC Countries

            15.3.1.2. Turkey

            15.3.1.3. Northern Africa

            15.3.1.4. South Africa

            15.3.1.5. Rest of MEA

        15.3.2. By Technology

            15.3.2.1. Light Reflection 

            15.3.2.2. Light Transmission

        15.3.3. By Sector

        15.3.4. By Solution

    15.4. Market Attractiveness Analysis

        15.4.1. By Technology

            15.4.1.1. Light Reflection 

            15.4.1.2. Light Transmission

        15.4.2. By Sector

        15.4.3. By Solution

16. Market Structure Analysis

    16.1. Global Vein Recognition Biometrics Market - A Dashboard View

    16.2. Global Vein Recognition Biometrics  - Industry Structure

    16.3. Global Vein Recognition Biometrics Market Company Share Analysis

17. Market Structure Analysis

    17.1. Global Vein Recognition Biometrics Market - A Dashboard View

    17.2. Global Vein Recognition Biometrics-Industry Structure

    17.3. Global Vein Recognition Biometrics Market Company Share Analysis

18. Company Profiles

    18.1. Mistras Group

        18.1.1. Company Overview

        18.1.2. Product overview

        18.1.3. SWOT Analysis

        18.1.4. Key Developments

    18.2. KCI Technologies

        18.2.1. Company Overview

        18.2.2. Product overview

        18.2.3. SWOT Analysis

        18.2.4. Key Developments

    18.3. Stantec

        18.3.1. Company Overview

        18.3.2. Product overview

        18.3.3. SWOT Analysis

        18.3.4. Key Developments

    18.4. TUV Rheinland

        18.4.1. Company Overview

        18.4.2. Product overview

        18.4.3. SWOT Analysis

        18.4.4. Key Developments

    18.5. Mabey Group 

        18.5.1. Company Overview

        18.5.2. Product overview

        18.5.3. SWOT Analysis

        18.5.4. Key Developments

    18.6. ATS Engineering

        18.6.1. Company Overview

        18.6.2. Product overview

        18.6.3. SWOT Analysis

        18.6.4. Key Developments

    18.7. Burns & McDonnell

        18.7.1. Company Overview

        18.7.2. Product overview

        18.7.3. SWOT Analysis

        18.7.4. Key Developments

    18.8. Johnson, Mirmiran & Thompson

        18.8.1. Company Overview

        18.8.2. Product overview

        18.8.3. SWOT Analysis

        18.8.4. Key Developments

    18.9. Collins Engineers

        18.9.1. Company Overview

        18.9.2. Product overview

        18.9.3. SWOT Analysis

        18.9.4. Key Developments

    18.10. Volkert Inc

        18.10.1. Company Overview

        18.10.2. Product overview

        18.10.3. SWOT Analysis

        18.10.4. Key Developments

    18.11. Ayres Associates Inc.

        18.11.1. Company Overview

        18.11.2. Product overview

        18.11.3. SWOT Analysis

        18.11.4. Key Developments

    18.12. Kedmor Engineers Ltd

        18.12.1. Company Overview

        18.12.2. Product overview

        18.12.3. SWOT Analysis

        18.12.4. Key Developments

    18.13. Short Elliot Hendrickson Inc.

        18.13.1. Company Overview

        18.13.2. Product overview

        18.13.3. SWOT Analysis

        18.13.4. Key Developments

    18.14. Infrastructure Preservation Corporation

        18.14.1. Company Overview

        18.14.2. Product overview

        18.14.3. SWOT Analysis

        18.14.4. Key Developments

    18.15. Patriot Rail Company

        18.15.1. Company Overview

        18.15.2. Product overview

        18.15.3. SWOT Analysis

        18.15.4. Key Developments

    18.16. CEC Corporation

        18.16.1. Company Overview

        18.16.2. Product overview

        18.16.3. SWOT Analysis

        18.16.4. Key Developments

    18.17. GHD Pty Ltd

        18.17.1. Company Overview

        18.17.2. Product overview

        18.17.3. SWOT Analysis

        18.17.4. Key Developments

    18.18. Modjeski And Masters Inc

        18.18.1. Company Overview

        18.18.2. Product overview

        18.18.3. SWOT Analysis

        18.18.4. Key Developments

    18.19. WSP Global

        18.19.1. Company Overview

        18.19.2. Product overview

        18.19.3. SWOT Analysis

        18.19.4. Key Developments

    18.20. American Rail Engineers Group

        18.20.1. Company Overview

        18.20.2. Product overview

        18.20.3. SWOT Analysis

        18.20.4. Key Development

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Vein Recognition Biometrics Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029