Press release
Vein Pattern Recognition Market Size Share - Industry Trends and Forecast 2012 - 2018
The wide acceptance of biometrics such as facial recognition, fingerprinting, iris recognition, and hand geometry have already stormed the global biometrics market. However, the new vein recognition biometrics technology, with its unique features, is expected to create its mark in the biometrics market. Of all the latest biometrics technologies, vein pattern recognition is one of the fastest growing new entrants in this market.
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The vein pattern recognition technology works on the principle of identification of the subcutaneous vein patterns in the hand. As the user places his or her hand on the scanner, the infrared light locates the vein and the red blood cells (RBCs) present in such veins absorb the light. After the vein template is acquired, it is compared with the previously stored database to identify the person.
The major drivers contributing to the growth in demand for vein pattern recognition technology are factors such as its user friendliness, safety, and the low false rejection rate. Innovation in the field of fusion of this technology, with other biometrics recognition methods such as hand and fingerprinting methods, hold tremendous market opportunity in the future. The major hurdle in the growth of this market is the cost involved in comparison with other biometrics solutions.
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The different types of vein recognition technologies are finger vein, palm vein, wrist vein and backhand vein recognition. At present there are a few Asian market players who have dominated this market. Such players are Fujitsu Limited, Techsphere Company Limited, and Hitachi Limited. Countries in South East Asia and Middle East have already begun to adopt this technology in their operations.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
North America
Asia Pacific
Europe
Rest of the World
This report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for upcoming years
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a technological growth map over time to understand the industry growth rate
It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
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