About Hand Geometry Biometric
Hand Geometry Biometric is an identification system which reads the hand geometry of the people such as their height, weight, veins, and various angles. This systems are primarily used to attendance purposes, for access control and as a payment mechanism. Though many experts argue that the hand geometry biometric systems are not as accurate as other biometric devices such as fingerprint biometrics or iris biometrics and others. Growing automation has largely been held as a reason for the growth of the biometric devices including the hand geometry biometrics. Although, hand geometry biometrics are considered difficult to install in large user base firms as it is hard to distinguish based on hand geometry than on finger print basis. North America and Europe are considered two prominent markets of hand geometry biometrics.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Increasing demand for automation driven by growing need for efficiency has led to adoption of biometric systems, this present’s huge potential for growth in front of hand geometry biometric system manufacturers and developers. Geographically, North America and Europe are considered potentially the biggest markets. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Hand Geometry Biometric market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M Company (United States), Fulcrum Biometrics (United States), Amazon.com, Inc. (United States), HID Global (United States), Fujitsu Ltd. (Japan), Fingerprint Cards (Sweden), Siemens AG (Germany), Thales Group (France), Safran S.A. (France) and Cross Match Technologies, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Facebanx Ltd. (United Kingdom), RCG Holdings Limited (China) and Suprema (South Korea).
Segmentation Overview
AMA Research has segmented the market of Global Hand Geometry Biometric market by , Application (Access Control, Time and Attendance Systems and Payment Systems) and Region.
On the basis of geography, the market of Hand Geometry Biometric has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Hand Geometry Biometric market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. BFSI will boost the Hand Geometry Biometric market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Time and Attendance Systems Accounts for Largest Market Share
Market Growth Drivers:
Growing Demand for Biometric Recognition Systems and Rise of Automation Industrial Expanditure
Challenges:
Integrating it with Large Organisations is Considered Challenging
Restraints:
Competition from Other Biometric Recognition Systems such as Finger Prints, Iris, etc.
Opportunities:
Payment Systems Present Huge Opportunity to Grow
In 2020, Amazon.com, Inc., a multinational Technology, cloud computing and e-commerce giant has announced launch of Amazon One, which is a hand geometry biometric payment mechanism. Initially, the customers are required to link their hand to their credit card. This technology is said to be deployed in at least couple of amazon go cashierless stores.
Key Target Audience
Hand Geometry Biometric Manufacturers, Suppliers and Distributors, Component Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.