MarketsandMarkets Presents

Asia Pacific to register highest CAGR in global palm vein scanner market during 2020- 2025.

The highest CAGR of the palm vein scanner market in APAC is attributed to the increasing demand for biometric solutions in the BFSI and commercial sectors in this region. The presence of major players in advanced biometric technologies such as finger vein and palm vein biometrics in APAC has led to the growth of the palm vein scanner market in the region. The region is also witnessing a growing awareness amongst consumers about the benefits offered by finger vein and palm vein biometrics in residential security control systems. China is expected to claim the largest share of the market in APAC by 2025. Moreover, the growing IT industry and the increasing acceptance of biometric solutions by governmental organizations in India and Singapore are expected to provide new growth opportunities to the palm vein scanner market.