Palm Vein Scanner Market to Surpass USD 4.73 billion by 2032, Driven by Rising Demand for Secure and Contactless Biometric Authentication | SNS Insider

GlobeNewswire On April 21, 2025 18:15 IST

The Palm Vein Scanner Market is growing, driven by rising demand for secure, contactless biometric authentication across banking, healthcare, and access control applications.

Austin, April 21, 2025 (GLOBE NEWSWIRE) — Palm Vein Scanner Market Size & Growth Insights:

According to the SNS Insider,“The Palm Vein Scanner Market was valued at USD 0.77 billion in 2023 and is projected to reach USD 4.73 billion by 2032, growing at a CAGR of 22.36% from 2024 to 2032.”

Technological Advancements and Rising Demand Driving Adoption of Palm Vein Scanners

The Palm Vein Scanner Market is experiencing significant growth, driven by advancements in biometric technology, increasing demand for secure, contactless authentication, and rising user acceptance across industries such as healthcare, banking, and government. In the U.S., the market was valued at USD 0.21 billion in 2023 and is projected to reach USD 1.15 billion by 2032, growing at a CAGR of 20.65%.

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Leading Market Players with their Product Listed in this Report are:

Fujitsu (Japan) – Palm vein recognition technology (PalmSecure)
Hitachi (Japan) – Palm vein and fingerprint biometric systems
NEC Corporation (Japan) – Biometric solutions (palm vein, fingerprint, facial recognition)
M2SYS Technology (USA) – Multi-biometric solutions (including palm vein)
BioEnable Technologies (India) – Biometric systems (palm vein, fingerprint, face, iris)
Idemia (France) – Biometric identification systems (palm vein, fingerprint, facial recognition)
Matrix ComSec (India) – Biometric access control systems (palm vein, fingerprint)
BioSec Group (Hungary) – Palm vein authentication solutions
Mofiria Corporation (Japan) – Palm vein biometric systems
Zebra Medical Vision (Israel) – Healthcare-based biometric solutions (including palm vein).

Palm Vein Scanner Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 0.77 Billion
Market Size by 2032	USD 4.73 Billion
CAGR	CAGR of 22.36% From 2024 to 2032
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segmentation	• By Component (Hardware, Software, Services) • By Technology (Optical Imaging, Infrared Imaging, Hybrid Imaging) • By Application(Authentication, Access Control, Time and Attendance) • By End Use(Healthcare, Banking and Financial Services, Government and Defense, Retail, Education)
Key Drivers	• Innovations Driving Accuracy and Speed in Palm Vein Recognition Technology. • Enhancing Retail Automation and Secure Payment Systems with Palm Vein Scanners.

A key driver of this growth is continuous innovation in palm vein recognition technology, which has enhanced the accuracy, speed, and integration capabilities of scanning systems. These improvements, powered by advanced algorithms and AI, enable real-time authentication with reduced error rates, making the systems ideal for applications requiring fast and precise identity verification. Additionally, the integration of palm vein scanners with mobile devices, smart home systems, and enterprise security platforms is creating seamless user experiences, further supporting widespread adoption and solidifying their role in modern biometric solutions.

Palm Vein Scanner Market Segments: Hardware, Software, Technology, Application, and End Use Trends in 2023

By Component

In 2023, the hardware segment held the largest share of the palm vein scanner market, accounting for approximately 50% of the total revenue. This dominance was propelled by the needs for high-performance components, from high-resolution sensors and imaging systems to specialized processors that make sure of speedy, accurate and secure biometric recognition.

The software segment is the fastest growing from 2024 to 2032. This shift is driven by the increasing use of advanced algorithms, artificial intelligence (AI), and machine learning (ML) to boost the speed, accuracy, and security of palm vein recognition systems. Software innovations enable real-time processing, seamless integration, and enhanced data protection, making them critical as adoption rises across industries like healthcare, banking, and retail.

By Technology

In 2023, the Optical Imaging segment led the palm vein scanner market with around 40% of the revenue, driven by its non-invasive nature, high accuracy, and ability to capture unique palm vein patterns using light. Its fast processing, high resolution, and affordability make it ideal for online systems in banking, healthcare, and security, especially in varying lighting conditions.

The Infrared Imaging segment is expected to grow the fastest From 2024 to 2032due to its superior performance in low-light and high-humidity environments. By capturing heat signatures, it enhances accuracy and security, making it highly suitable for critical applications where reliability is essential, further boosting its market adoption.

By Application

In 2023, the Authentication segment led the palm vein scanner market with about 50% of the revenue, due to increasing demand for secure and contactless identification in sectors such as banking, healthcare and government. Its non-intrusive, hygienic and ultra secure nature makes it perfect for sensitive environments.

The Access Control segment is expected to grow significantly From 2024 to 2032as industries such as corporate offices, government facilities, and healthcare increasingly adopt palm vein scanners for fast, accurate, and touch-free access authentication.

By End Use

In 2023, the Healthcare segment dominated the palm vein scanner market with approximately 40% of the revenue, driven owing to its effective use in hospitals and clinics for patient identification. Its non-invasive accuracy helps cut down on identity fraud and ensures safe access to medical records and treatments.

The Government and Defense segment is expected to grow the fastest from 2024 to 2032, as demand increases for highly secure, contactless identification systems in sensitive environments like military bases and government facilities. Its unmatched accuracy, speed, and hygiene make it ideal for critical security applications, fueling rapid adoption in this sector.

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Regional Growth Drivers in the Palm Vein Scanner Market: North America vs. Asia-Pacific

In 2023, North America led the palm vein scanner market, accounting for about 40% of the revenue. . This supremacy is spurred because of a high adoption of state-of-the-art biometric safety options throughout industries like healthcare, banking, and authorities. Data security, privacy regulations, and access control concerns in the region have increased the demand for broad-based implementation of palm vein scanners for secure authentication. Moreover, North America is anticipated to have high focus on technological advancements, well-developed infrastructure, and increasing prevalence of contactless solutions.

Asia-Pacific is expected to experience the fastest growth from 2024 to 2032, driven by quick technological advancements and rising adoption of biometric systems in nations such as China, India, and Japan. The surging demand for regional digitalization as well as increasing threat levels in industries such as banking, healthcare, and government are several important driving forces. Growing demand also stems from smart city project investments and rising awareness of privacy and data security in the region, which increasing interest in biometric solutions such as palm vein recognition.

Recent Development

On January 15, 2025, Hitachi launched a project in Shin-Koshigaya, Tokyo, allowing customers to make purchases by scanning their palm, using vein patterns for identification, eliminating the need for credit cards or smartphones.
Sep 3, 2024, NEC has introduced a biometric system that enables facial recognition for authentication in crowded environments, processing up to 100 individuals per minute, reducing congestion and waiting times.

Table of Contents – Major Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Technology Adoption

5.2 Accuracy and Efficiency Improvements

5.3 Energy Efficiency Trends

5.4 User Acceptance Rates

6. Competitive Landscape

7. Palm Vein Scanner Market Segmentation, by Component

8. Palm Vein Scanner Market Segmentation, by Technology

9. Palm Vein Scanner Market Segmentation, by Application

10. Palm Vein Scanner Market Segmentation, by End Use

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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