Upcoming Allied Market Research
Vein Recognition Biometrics Market

Vein Recognition Biometrics Market

by Device Type (Smart watch, Fitness Tracker, Payment Wristband, and Others) and End User (Banking & Financial Sector, Healthcare, IT & Telecommunication, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A14763
Pages: NA
Mar 2023 | 1212 Views
Author(s) : NA
Tables: NA
Charts: NA
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.



Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Vein Recognition Biometrics Market

Request Now !

Vein recognition biometrics technology offers superior methodology to traditional pin-based methods. This technology is used to protect sensitive or personal data from unauthorized use of an individual's possessions such as ATMs, smart cards, mobile phones, or access to desktops, laptops, workstations, or networks, through the use of a unique identification technique. It has recognition vein biometrics traits for identification, which makes it useful in a wide range of critical applications.

Biometric systems are built with a storage component for biometric data samples of individuals that are linked to their identity information. Furthermore, traditional methods may be compromised. For instance, a pin or password may be forgotten or a key may be lost. However, biometric traits are difficult to steal or forget. Biometric technology is used in a variety of industries, including banking, insurance, and financial institutions due to its unique characteristics and high security (automobile & retail sector). The biometrics technology market is being driven by the increasing use of biometric solutions in the commercial and private sectors.

The global Vein Recognition Biometrics market is segmented on the basis of Device Type, End User, and Region. Based on type, the market is divided into Smart watch, Fitness Tracker, Payment Wristband, and Others. In terms of End User, the market is categorized into Banking & Financial Sector, Healthcare, IT & Telecommunication, and Others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

COVID-19 scenario analysis

COVID-19 has changed the way firms interact and do business in a variety of industries. A significant reduction in in-person interactions using low-touch or no-touch digital technologies that are in sync with post-COVID behavior is an important part of this pandemic.

During the outbreak of COVID-19, the firms provided image-based product overviews and prices along with AR-enabled financial apps, which have encouraged digital payments. Furthermore, cashless payment is one of the most important demands in the banking industry.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Increased adoption of cashless payments globally, increased demand for vein recognition biometric devices for safety and security during transactions, and growth in convenience and better consumer experience are driving the market growth. However, security threat while using biometric devices is expected to hamper the growth of the market. On the other hand, the increased use of near-field communication (NFC) technology in wearable devices can be viewed as an opportunity for market investments.

The vein recognition biometrics market trends are as follows:

Rise in demand for wearable devices due to safety and security during transactions

The adoption of vein recognition biometrics in the banking industry with a variety of benefits of cashless transactions has seen a significant increase in the use of banking devices for safe and secure transactions. Furthermore, rise in cyber-attacks on mobile payment systems around the world has shifted the preference of the majority of consumers toward vein recognition methods. Furthermore, majority of banks and financial institutions around the world have implemented contactless biometric banking technology to improve transaction security and convenience. For instance, in 2020, VISA Inc. conducted a study and discovered that 90% of transactions in Austria and the Czech Republic were made using the biometric banking method. As a result, rise in demand for vein recognition devices due to increased safety and security during transactions is expected to fuel the growth of the global biometric banking industry during the forecast period.

Increased adoption of augmented reality (AR) & virtual reality (VR) in the BFSI sector

Banking and financial institutions have begun to incorporate augmented reality and virtual reality into their operations to disrupt the banking industry and provide a personalized customer experience. With virtual assistance, AR/VR is creating a virtual digital bank branch where customers can be engaged and given more information and personalized attention. It provides customers with a 360-degree view of their current situation, various request statuses, new offerings, and others. Customers make online payments using digital methods such as accounts, debit/credit cards, and digital wallets. Therefore, the increased adoption of AR & VR in the BFSI sector is set to lead the growth of the market during the forecast period.

Key benefits of the report:

  • This study presents analytical depiction of the vein recognition biometrics market along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.     
  • The current market is quantitatively analyzed to highlight the vein recognition biometrics market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
  • The report provides a detailed market analysis depending on the present and future competitive intensity of the market.

Questions answered in the vein recognition biometrics market research report:    

  • Which are the leading players active in the vein recognition biometrics market?
  • What would be the detailed impact of COVID-19 on the vein recognition biometrics market?
  • What are current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the vein recognition biometrics market?
  • What are the projections for the future that would help in taking further strategic steps?

Vein Recognition Biometrics Market Report Highlights

Aspects Details
By Application
  • Access control & biometric identification
  • User authentication
  • OEM terminal devices
By Industry Verticlas
  • Banking & Financial Sector
  • Healthcare
  • IT & Telecommunication
  • Others
By Region
  • North America 
  • Europe 
  • Asia-Pacific 
  • LAMEA 
Key Market Players Alibaba Group, Apple Inc, Barclays Plc, Fitbit Inc, Google Inc, Jawbone, Mastercard, PayPal Inc, Samsung Electronics Co. Ltd, Visa Inc

Loading Table Of Content...

With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace

With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast

Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts

Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)

Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Enquiry Now

Purchase Full Report of
Vein Recognition Biometrics Market

Start reading.
This Report and over 19,649+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,690
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
  • Data Pack
  • $3,930
  • Restricted to one authorized user
  • One print only
  • Available in
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Single User
  • $5,820
  • Restricted to one authorized user
  • One print only
  • Available in
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Five Users
  • $6,540
  • Limited to five authorized users
  • Print upto five copies
  • Available in
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Enterprise

  • $9,870
  • Unlimited
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Library

  • $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
  • Company Profiles
  • Newly Added Content Access
  • 10 PDF
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD


Why Allied Market Research?


Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction


On-demand customization of scope of the report to exactly meet your needs


Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction


On-demand customization of scope of the report to exactly meet your needs


Targeted market view to provide pertinent information and save time of readers