About Contact Us Careers

Palm Vein Scanner Market Size and Forecast, by Product (Finger Vein Biometrics, Palm Vein Biometrics); Offering (Hardware, Software & Services); Functionality (Logical Access Control & Biometric Authentication, Embedded System, Physical Access Control & Biometric Authentication); End-user (BSFI, Commercial, Industrial, Government, Military & Defense, Business Organization) - Growth Trends, Key Players, Regional Analysis 2026-2035

  • Report ID: 5192
  • Published Date: Dec 20, 2024
  • Report Format: PDF, PPT

Palm Vein Scanner Market Outlook:

Palm Vein Scanner Market size was valued at USD 1.01 billion in 2025 and is expected to reach USD 7.5 billion by 2035, expanding at around 22.2% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of palm vein scanner is evaluated at USD 1.21 billion.

Palm Vein Scanner Market trends
Discover Market Trends & Growth Opportunities: Request Free Sample PDF

The growth of the market can be attributed to the higher efficiency of palm vein technology. The false rejection rate of palm vein technology is around 0.01%, which is significantly lower when compared to the 2.6% rate of facial recognition. Furthermore, the overall accuracy of palm vein is 260 times higher than other recognition mediums. The better efficacy of palm vein technology over other technology is to increase its adoption.

In addition to these, another factor that is believed to fuel the market growth of palm vein scanner is government initiatives to provide unique cards to citizens. Government-issued identification cards are frequently used as the main kind of identity verification. Authorities can provide a higher level of precision and security in confirming an individual's identity by integrating palm vein scanners with these cards.

Key Palm Vein Scanner Market Insights Summary:

  • Regional Highlights:

    • The North America palm vein scanner market is anticipated to capture a 36% share by 2035, driven by rising government initiative to secure hospital data and prevent network breaches.
    • The Asia Pacific market is projected to achieve a 24% share by 2035, fueled by rising cases of security breaches and fraudulence in the banking sector.

  • Segment Insights:

    • The physical access control & biometric authentication segment in the palm vein scanner market is projected to secure a 45% share by 2035, fueled by rising use of palm vein scanners in high-security areas such as defense and military.
    • The bfsi segment in the palm vein scanner market is anticipated to capture a 35% share by 2026-2035, driven by rising cases of fraud increasing adoption of palm vein scanners.

  • Key Growth Trends:

    • Increasing Adoption of Biometric Recognition
    • Advancing Technology of Identification

  • Major Challenges:

    • Complexity With Integration
    • More Expensive than Other Alternatives

  • Key Players: NEC Corporation, M2SYS Technology, BioSec Group Ltd., Eportation Inc., Mantra Softtech Pvt Ltd., BioEnable Technologies Pvt Ltd., Imprivata, Inc., Recogtech B.V., Neurotechnology, Mofiria Corporation.

Global Palm Vein Scanner Market Forecast and Regional Outlook:

  • Market Size & Growth Projections:

    • 2025 Market Size: USD 1.01 billion
    • 2026 Market Size: USD 1.21 billion
    • Projected Market Size: USD 7.5 billion by 2035
    • Growth Forecasts: 22.2% CAGR (2026-2035)

  • Key Regional Dynamics:

    • Largest Region: North America (36% Share by 2035)
    • Fastest Growing Region: Asia Pacific
    • Dominating Countries: Japan, United States, China, Germany, South Korea
    • Emerging Countries: China, India, Japan, South Korea, Singapore

    • Last updated on : 20 December, 2024

Growth Drivers

  • Growing Adoption of Digitalization of Databases- Globally, around 89% of major businesses have already implemented a digital shift in their company. This has increasingly shifted the entire database to online mode. Digital shit has increased the usage of logical access control offered by palm vein scanners to protect sensitive data over the web.

  • Increasing Adoption of Biometric Recognition– Biometric recognition, including palm vein screening, are much more reliable than traditional authentication technology, such as PINs and password. This has increased the usage of contactless biometric recognition. A survey of over 490 professionals in Europe and North America stated that nearly 62% of organizations were using biometric identification in 2018, and 24% were added by 2021.
  • Advancing Technology of Identification– Anti-spoofing techniques are built into advanced palm vein scanners to detect phony palm patterns or efforts to fool the device. This improves security and helps to avoid fraudulent actions.

Challenges

  • Complexity With Integration- The incorporation of the palm vein scanning authentication with the existing infrastructure and systems is quite complex. The complexity increases in the government system and the company that has long-running legacies. These factors slow down the adoption of palm vein scanners.
  • More Expensive than Other Alternatives
  • Unreliable and Unregistered Scanner

Palm Vein Scanner Market Size and Forecast:

Report Attribute Details

Base Year

2025

Forecast Period

2026-2035

CAGR

22.2%

Base Year Market Size (2025)

USD 1.01 billion

Forecast Year Market Size (2035)

USD 7.5 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Access Detailed Forecasts & Data-Driven Insights: Request Free Sample PDF

Palm Vein Scanner Market Segmentation:

Functionality 

The physical access control & biometric authentication segment is estimated to account for 45% share of the global palm vein scanner market in the year 2035. The growth of the segment can be attributed to the rising use of palm vein scanners for physical access control in high-security areas, such as defense and military camps, and the areas that require high security where security can be breached with unauthorized entry. Furthermore, many organizations have adopted physical access control over traditional security technology which in turn is also boosting the segment’s growth.

End User 

Palm vein scanner market from the BFSI segment is expected to garner a significant share of around 35% in the year 2035. The BFSI sector often handles highly confidential information about the client. Palm vein scanner has become increasingly important to ensure the authenticity of the person accessing the data to avoid any instance of fraudulence. The rising cases of fraud in the BFSI industry are to increase its adoption and thus contributed to the market growth. In 2020, malware cases jumped 150%, and a new attack is launched somewhere on the internet every 39 seconds.

Our in-depth analysis of the global market includes the following segments:

  Offering
  • Hardware
  • Software & Services

  Product
  • Finger Vein Biometrics
  • Palm Vein Biometrics

  Functionality
  • Logical Access Control & Biometric Authentication
  • Embedded System
  • Physical Access Control & Biometric Authentication

  End User
  • BSFI
  • Commercial
  • Industrial
  • Government
  • Military & Defense
  • Business Organization
Vishnu Nair
Vishnu Nair
Head - Global Business Development

Customize this report to your requirements — connect with our consultant for personalized insights and options.

Palm Vein Scanner Market Regional Analysis:

North American Market Insights

North America industry is predicted to dominate majority revenue share of 36% by 2035. The growth of the market can be attributed majorly to the rising government initiative to secure hospital data and prevent network breaches. U.S. Department of Health and Human Services has presented a new security structure for healthcare. The department has announced to prioritize cyber security and privacy of patients in the hospitals. This initiative is likely to increase the demand for safety technology including palm vein scanners.

APAC Market Insights

The Asia Pacific palm vein scanner market is estimated to be the second largest, registering a share of about 24% by the end of 2035. The growth of the market can be attributed majorly to the rising cases of security breaches and fraudulence in the banking sector. Between June 2018 and March 2022, Indian banks reported 248 successful data breaches perpetrated by thieves and hackers. Furthermore, in 2022, the Indian government reported 11,60,000 cyber-attacks. It is expected to be three times greater than in 2019. Moreover, the expanding IT sector in the region is also expected to increase the adoption of palm veins scanner.

Palm Vein Scanner Market value
Get Strategic Analysis by Region Now: Request Free Sample PDF

Palm Vein Scanner Market Players:

    • NEC Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • M2SYS Technology
    • BioSec Group Ltd.
    • Eportation Inc.
    • Mantra Softtech Pvt Ltd.
    • BioEnable Technologies Pvt Ltd.
    • Imprivata, Inc.
    • Recogtech B.V.
    • Neurotechnology
    • Mofiria Corporation

Recent Developments

  • NEC Corporation has launched a complete marketing campaign for its newest multimodal biometric identification solution, which serves as the centerpiece of its "Bio-IDiom" brand (*1) of biometric authentication.
  • Neurotechnology announced the launch of a new MegaMatcher identity management system, that offers identity management solutions for civil and criminal applications.
  • Report ID: 5192
  • Published Date: Dec 20, 2024
  • Report Format: PDF, PPT
  • Get detailed insights on specific segments/region
  • Inquire about report customization for your industry
  • Learn about our special pricing for startups
  • Request a demo of the report’s key findings
  • Understand the report’s forecasting methodology
  • Inquire about post-purchase support and updates
  • Ask About Company-Level Intelligence Additions

Have specific data needs or budget constraints?

customer-service Inquiry Before Buying

Frequently Asked Questions (FAQ)

In the year 2026, the industry size of palm vein scanner is evaluated at USD 1.21 billion.

The global palm vein scanner market size exceeded USD 1.01 billion in 2025 and is set to expand at a CAGR of around 22.2%, surpassing USD 7.5 billion revenue by 2035.

The North America palm vein scanner market is anticipated to capture a 36% share by 2035, driven by rising government initiative to secure hospital data and prevent network breaches.

Key players in the market include NEC Corporation, M2SYS Technology, BioSec Group Ltd., Eportation Inc., Mantra Softtech Pvt Ltd., BioEnable Technologies Pvt Ltd., Imprivata, Inc., Recogtech B.V., Neurotechnology, Mofiria Corporation.

Palm Vein Scanner Market Report Scope

GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

Connect with our Expert

Preeti Wani
Preeti Wani
Assistant Research Manager
Get a Free Sample

See how top U.S. companies are managing market uncertainty — get your free sample with trends, challenges, macroeconomic factors, charts, forecasts, and more.

Inquiry Before Buying Request Free Sample PDF

Copyright @ 2025 Research Nester. All Rights Reserved.

footer-bottom-logos