- The key vendors in the global vein recognition biometrics market in BFSI sector 2015-2019 are Fujitsu, Hitachi, M2SYS Technology, NEC and Safran.
London, 11 September 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global vein recognition biometrics market in BFSI sector 2015-2019. Banks and financial institutions in developing regions such as APAC, Latin America, and MEA are ready to adopt vein biometrics. Vein readers and sensors are more advanced than fingerprint and palm print sensors. The global vein recognition biometrics market in the BFSI sector is expected to grow at a CAGR of 27.83% during 2014-2019.
Vein recognition biometrics is gaining prominence in the BFSI sector in application areas such as logical access control, physical access control, mobile banking, branch banking, kiosks, ATMs, and safe deposit lockers. This technology protects customers from data breaches and identity thefts. This biometrics has been gaining momentum worldwide in the BFSI sector to ensure a secure transaction, authentication to the account or the PC, and secure networking in banks.
“The introduction of industry specific biometric solutions for identity management is becoming popular among various industry verticals because these solutions are designed to meet specific requirements,” says Faisal Ghaus, Vice President of Technavio Research.
“For instance, M2SYS Technology offers industry specific biometric solutions, including Certis ID for the BFSI sector and Right Patient for the healthcare sector.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.