Global Vein Recognition Biometrics Market in BFSI sector 2015-2019 - New Market Research Report

The demand for highly reliable and accessible personal authentication and identification systems is increasing in the BFSI sector because of the growing instances of security vulnerabilities and transactional fraudulent in this sector. Biometrics is a suitable and reliable solution as it is based on the behavioral and physiological characteristics of an individual, which is difficult to replicate. Biometrics involves the identification, verification, and authentication of an individual by evaluating one or more unique biological traits such as voice, hand geometry, DNA, gait, fingerprint, facial expression, and vein recognition. Biometrics is considered to be more reliable than physical devices and numeric codes as biometric traits are not prone to any change.

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Vein recognition biometrics is gaining importance in the BFSI sector for applications such as logical access control, physical access control, mobile banking, branch banking, kiosks, ATM, and safe deposit locker. Vein recognition biometrics is used for security purpose in the BFSI sector to protect customers from data breaches and identity theft.

Technavio's analysts forecast the global vein recognition biometrics market in the BFSI sector to grow at a CAGR of 27.83% over the period 2014-2019.

Covered in this report

This report covers the present scenario and the growth prospects of the global vein recognition biometrics market in the BFSI sector for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of vein biometric solutions including hardware, software, integrated solutions, and services offered in the BFSI sector. Revenues generated from aftersales services are not included to calculate the market size.

Technavio's report, Global Vein Recognition Biometrics Market in the BFSI Sector 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, Europe, Latin America, MEA, and North America; it also covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

Key regions

APAC
Europe
Latin America
MEA
North America
Key vendors

FUJITSU
Hitachi
M2SYS Technology
NEC
Safran
Other prominent vendors

3M Cogent
BioEnable
IdentyTech Solutions
IDLink Systems
Mantra Softech
Matrix Security Solutions
Mofiria
PalmSure
Tyco
Key market driver

Shift from fingerprint to finger vein recognition biometrics in BFSI sector
For a full, detailed list, view our report
Key market challenge

Privacy issues with biometric data
For a full, detailed list, view our report
Key market trend

Introduction of palm vein recognition biometrics in smartphones

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