Global Palm Vein Biometrics Market to Reach $2.7 Billion by 2027
Amid the COVID-19 crisis, the global market for Palm Vein Biometrics estimated at US$790.4 Million in the year 2020, is projected to reach a revised size of US$2.7 Billion by 2027, growing at a CAGR of 19% over the analysis period 2020-2027. Healthcare, one of the segments analyzed in the report, is projected to record a 21.9% CAGR and reach US$552.5 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Education segment is readjusted to a revised 14.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $235.9 Million, While China is Forecast to Grow at 18.4% CAGR
The Palm Vein Biometrics market in the U.S. is estimated at US$235.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$463.3 Million by the year 2027 trailing a CAGR of 18.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.2% and 15.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 12.9% CAGR.
BFSI Segment to Record 19.2% CAGR
In the global BFSI segment, USA, Canada, Japan, China and Europe will drive the 19.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$369.8 Million in the year 2020 will reach a projected size of US$1.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$305.5 Million by the year 2027.We bring years of research experience to this 7th edition of our report. The 116-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- BioEnable Technologies Pvt. Ltd.
- Fujitsu Ltd.
- IdentyTech Solutions Ltd.
- iDLink Systems Pte Ltd.
- Imprivata, Inc.
- M2SYS Technology
- Mantra Softech (India) Pvt., Ltd.
- Matrix Security Solutions