Palm Recognition Biometrics Market Share

North American Market Forecast

The North American palm recognition biometrics market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the increasing implementation of facial recognition and biometric payment systems in the region which is mainly installed in banks, offices, and other organizations. Apart from that surge in the regional population to purchase mobile phones and laptops with robust security features is further expected to propel the market growth over the forecast period. The United States is estimated to be the world’s largest region with smartphone users. For instance, as of 2021, nearly 300 million smartphone users were noticed to be living in the United States.

APAC Market Statistics

The Asia Pacific palm recognition biometrics market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the increasing population in the region which is anticipated to boost smartphone sales and financial activities. Higher penetration of the internet in the region is anticipated to flourish these activities over the forecast period. Hence, such factors are expected to propel the market growth over the forecast period.