Hand Geometry Biometrics Market Revenue and Value Chain 2014-2020

Overview

The implementation of biometric technology in various industries is gaining momentum, owing to the public acceptance of hand geometry biometric systems. Hand geometry biometrics is one of the most successful facets of the global biometric technologies industry. Functional integration, efficient use and security benefits are key features driving the growth of the hand geometry biometrics market.

The existence of hand geometry biometrics systems dates back to the early 1980s, and it is the most successful biometric system used in computer technology and ICT. The global market for hand geometry biometrics is well-established, owing to the systems’ profitable combination with identification operations.

Prominent Trends & Growth Opportunities

The rising interest in biometric systems with multiple-point verification mechanism has a key impact on the global market. The technology used in hand geometry biometrics registers verification of several perimeters of the hand, including the finger length, the finger width and palm size. Unlike fingerprint biometrics, where unlawful access is still viable, it is nearly impossible to duplicate the print of an entire hand. Due to this, the hand geometry biometrics systems are being extensively implemented for authorisation operations.

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Use of hand geometry biometrics in e-commerce industry is expected to grow opportunities for the market’s future. The contact-based technology in hand geometry biometrics devices will serve the purpose of customer identification on a larger scale, helping companies to create a better consumer database and facilitate other ventures with it. Implementing the system in cloud computing to address breach concerns is likely to influence development of new products and services.

Drivers & Restraints of Global Hand Geometry Biometrics Market

Use of manifold biological characteristics for every indivisible person is a unique feature of such systems, suitable to grow the demand for hand geometry biometrics products and programs. The growth of the global market for hand geometry biometrics is driven by the system’s efficient utilisation in,

Applications as such have supplemented the growth of demand for hand geometry biometrics systems. However, the main restraint limiting the growth and for hand geometry biometrics systems is their high cost and time consumption in comparison to fingerprint biometrics. The restricted use of applicability in confirmation tasks is also hampering the emergence of business opportunities in the future of hand geometry biometrics market.

Market Segmentation

The global market for hand geometry biometrics systems is segmented as,

On the basis of applications,

Applications of hand geometry biometrics technology in consumer electronics can be further segmented into,

Region-wise,segmentation of the global hand geometry biometrics market includes several key regions such as North America, Asia Pacific, Europe, Latin America, Middle East & Africa, among others. Developed economies in North America and Europe are reinforcing the market, while adoption is growing in end-use industries.

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Key Companies

3M Company, Fingerprint Cards AB, Cross Match Technologies Inc., Fulcrum Biometrics LLC., Safran SA, Fujitsu Ltd., RCG Holdings Limited, Siemens AG, Facebanx, NCE Corporation, Validsoft UK Ltd., Thales SA and Suprema Inc. are some of the leading companies in the global hand geometry biometrics market.