By the end of 2021, the hand geometry biometrics market had generated US$4.2 billion in sales. The hand geometry biometrics market is anticipated to grow at a CAGR of 16.9% from 2022 to 2032, reaching a value of US$ 22.9 billion.
Biometric hand geometry solutions can recognise a user based on the measurements of their hand. This method measures the user’s hand several times and compares those results to measurements that have already been saved in a file. The widespread public acceptance of biometric systems over the past few decades has contributed further value to the adoption of this biometrics technology in numerous end-use sectors. Furthermore, on a global level, hand geometry biometric technology represents a significant progress in the field of biometric technologies.
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2017-2021 Hand Geometry Biometrics Scanner Demand Outlook Compared to 2022-2032 Forecast
For the forecast period, the market for hand geometry biometric scanners is anticipated to expand at a CAGR of 16.9%.
Contrary to fingerprint biometrics, where unauthorised access is still possible, a whole hand print is extremely challenging to duplicate. Hand geometry biometrics technology is therefore frequently employed in authorization processes. Businesses will be able to identify clients more accurately thanks to the contact-based technology found in hand geometry biometrics devices, and they will be able to use that information to strengthen their customer databases and assist other projects. The way new products and services are created will probably be impacted by the system’s use in cloud computing to manage breach issues.
The Market for Biometric Systems Is Being Driven by an Increase in Demand for Mobile Biometric Devices.
Market growth is predicted to benefit from the use of mobile biometrics for security purposes. Mobile biometric devices use multi-factor authentication (MFA) as a technique to confirm a person’s identity. This technology has become more well-liked since it makes it simple to use the features of authentication, online transactions, and many other services. Consumers are adopting cutting-edge linked devices and digital technologies with biometric technology to process sensitive data and protect its security.
Some large banks use biometric technologies in a number of settings, such as ATMs, face and voice verification integrated with face and voice authentication, and cash withdrawals using fingerprint signatures for mobile banking app authentication. Because of this increased use of biometric technology in smartphones for security and improved user experience, the industry is likely to develop favourably.
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Competitive Landscape
Companies that offer hand geometry biometrics scanners either work in the security sector or have a broad range of electronic services and solutions. In many business fields, other types of biometrics, such as iris and finger print scanners, may compete with the hand geometry biometric scanner market.
- A renowned Taiwanese card manufacturer, BCC, and Fingerprint Cards AB joined up in May 2022 to create and implement biometric cards for both worldwide market access and payments. By enabling cutting-edge biometric payments and access cards globally, the partnership between Fingerprints and BCC will influence the direction of the payments sector in the future. Businesses and banks can now provide safe and practical biometric verification for payment transactions in addition to applications for physical and logical access.
- The Delaney Biometrics business, along with the intellectual property and commercial rights, was acquired by Fulcrum Biometrics Inc. in September 2020 from Delaney Secure Ltd. The company said it made the acquisition to strengthen and expand its presence in the EU and UK with additional sales and support staff, in addition to the Fulcrum products and services already available in those markets. A UK biometrics firm called Delaney Secure Ltd specialises in cloud-based access control as well as attendance and time management.
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Hand Geometry Biometrics Scanner by Category
By Type of Product:
- Palm Scanner
- Biometric Software
By Enterprise Size:
- SMEs
- Large Enterprises
By Application:
- Access Control
- Time & Attendance
- Canteen Management
- Contract Management
- Visitor Management
- Others
By End Use Industry:
- Pharmaceutical & Research
- Corporate Offices
- Engineering & Manufacturing
- Banking & Finance
- Education & Learning
- Hospitals & Healthcare
- Construction Projects
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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