Palm Vein Biometric Market Report 2025

The palm vein biometric market size has grown rapidly in recent years. It will grow from $1.04 billion in 2024 to $1.23 billion in 2025 at a compound annual growth rate (CAGR) of 17.5%. The growth in the historic period can be attributed to the increasing demand for secure authentication, expanding adoption within the banking sector, rising popularity of contactless biometric solutions, growing awareness of the advantages of biometrics, and the escalating need for multi-factor authentication.

The palm vein biometric market size is expected to see rapid growth in the next few years. It will grow to $2.31 billion in 2029 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to increasing demand for touchless authentication, expanding adoption in fintech and payment sectors, heightened emphasis on hygiene and safety, broader applications in smart devices, and greater use in corporate security. Key trends during this period include improvements in vein pattern recognition, integration with mobile and wearable technology, advancements in biometric solutions, development of near-infrared scanning techniques, and progress in sensor technology.

The rising frequency of security breaches is expected to drive the growth of the palm vein biometric market, as these breaches involve unauthorized access to sensitive data and systems, posing significant security risks. This increase is largely due to the growing sophistication of cyberattacks, where attackers use advanced techniques to bypass traditional security measures. Palm vein biometrics offer a highly accurate and contactless method of authentication, making them ideal for high-security environments by reducing fraud risks through verification of unique vein patterns and enhancing overall access control. For instance, in August 2025, Cyble Inc., a US-based cybersecurity company, reported that data breaches in Australia exceeded 1,100 in 2024, reflecting a 25% rise compared to 2023. Such trends highlight how escalating security threats are boosting demand for palm vein biometric solutions.

Leading companies in the palm vein biometric market are prioritizing the development of advanced technologies such as contactless and device-free biometric systems to improve security, accelerate authentication, and minimize fraud. These systems verify identity without requiring physical contact or interaction with a device. For example, in May 2024, Uniken Inc., a US-based digital identity and authentication firm, introduced palm vein authentication on its REL-ID platform, a contactless, device-free solution that allows users to verify their identity by simply hovering their palm over a sensor. Utilizing PalmSecure technology, it offers exceptional biometric accuracy with a false acceptance rate of just 0.000001%, making it highly secure and resistant to spoofing. Designed for environments with low smartphone adoption, this frictionless, device-independent system enhances authentication speed and significantly reduces fraud in both physical and digital settings.

In January 2023, Ingenico S.A., a payment solutions company based in France, partnered with Fujitsu Frontech North America Inc. to create a seamless biometric payment system using palm vein identification. This collaboration aims to revolutionize payment experiences by helping merchants speed up checkout processes, reduce fraud risks, and offer a secure, contactless, and smooth biometric payment solution. Fujitsu Frontech North America Inc., a US-based provider of front-end technology solutions, contributes palm vein authentication devices and integration expertise to the partnership.

Major players in the palm vein biometric market are Fujitsu Limited, NEC Corporation, IDEMIA Group, ZKTeco Group, Ingenico Group S.A., Matrix Comsec Pvt. Ltd., Uniken Inc., Mantra Softech Pvt. Ltd., Bio Enable Technologies Pvt. Ltd., Imprivata Inc., Precise Biometrics AB, Fulcrum Biometrics LLC, IDLink Systems Inc., Identy Tech Solutions Pvt. Ltd., AmpleTrails, BioSec Group, Dakar Software Systems Pvt. Ltd., Eportation Inc., Redrock Biometrics, Touchless Biometric Systems, and Normee Limited.

North America was the largest region in the palm vein biometric market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in palm vein biometric report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the palm vein biometric market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the information technology sector, particularly in hardware manufacturing, data infrastructure, and software deployment. Higher duties on imported semiconductors, circuit boards, and networking equipment have raised production and operational costs for tech firms, cloud service providers, and data centers. Companies relying on globally sourced components for laptops, servers, and consumer electronics are facing longer lead times and increased pricing pressures. In parallel, tariffs on specialized software tools and retaliatory measures from key international markets have disrupted global IT supply chains and reduced overseas demand for U.S.-developed technologies. To navigate these challenges, the sector is accelerating investments in domestic chip fabrication, diversifying supplier bases, and adopting AI-driven automation to enhance operational resilience and cost efficiency.

Palm vein biometric technology is an advanced authentication method that identifies and verifies individuals by analyzing the unique and complex vein patterns beneath the palm using near-infrared light, which remains consistent throughout a person’s life. It offers secure, contactless identity verification for various applications including access control, banking, healthcare, and other high-security environments.

The main components of palm vein biometric systems include hardware, software, and services. Hardware comprises the physical devices used to capture and read palm vein patterns, encompassing product types such as standalone units, integrated systems, software solutions, and mobile devices. These utilize technologies such as image processing, optical and infrared technology, 3D imaging, and biometric fusion. Applications cover access control, time and attendance tracking, healthcare, banking and finance, retail, government, and defense sectors, serving end users across commercial, governmental, and residential domains.

The palm vein biometric market research report is one of a series of new reports that provides palm vein biometric market statistics, including palm vein biometric industry global market size, regional shares, competitors with a palm vein biometric market share, detailed palm vein biometric market segments, market trends and opportunities, and any further data you may need to thrive in the palm vein biometric industry. This palm vein biometric market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The palm vein biometric market includes revenues earned by entities by providing services such as identity verification and authentication, physical access control, transaction authentication, fraud prevention services, and user enrollment and management. The market value includes the value of related goods sold by the service provider or included within the service offering. The palm vein biometric market also includes sales of palm vein scanners, authentication terminals, access control devices, mobile authentication tools, and embedded palm vein modules. Values in this market are ‘factory gate’ values; that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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