The South & Central America biometrics technologies market was valued at US$ 1.55 billion in 2022 and is expected to reach US$ 4.10 billion by 2030; it is estimated to register a CAGR of 12.9% from 2022 to 2030.
Also, in 2023, Brazil deployed facial recognition technology to speed up passenger operations at airports. The new method uses facial biometrics to scan travelers' faces before cross-referencing their information with government databases. Therefore, the increasing use of biometric technology in airports presents a significant biometric technology market trend.
The rising awareness of the benefits provided by biometrics technologies is likely to benefit the biometrics technologies market in Brazil in the coming years. In August 2023, BioCon Brazil conducted a conference to spread biometric awareness in Brazil and the rest of South American countries. BioCon Brazil demonstrated the practical uses of biometrics technologies in criminal identification and preventing fraud.
Increasing Use of Biometric Systems at Airports Fuels South & Central America Biometrics Technologies Market
Airports around the world are actively exploring and implementing biometric solutions at various touchpoints, including check-in kiosks, security checkpoints, and boarding gates, which results into a continuous demand for new hardware and software systems. As airport administrations experience success with initial implementations, they are likely to expand the application of biometrics to other areas at airports, creating additional demand for technology and integrations. Moreover, facial recognition is becoming common in airport operations. In 2024, RecFaces, a developer of facial recognition software, announced that Jorge Chávez International Airport in Lima, Peru, would employ its Id-Guard technology for security purposes.Also, in 2023, Brazil deployed facial recognition technology to speed up passenger operations at airports. The new method uses facial biometrics to scan travelers' faces before cross-referencing their information with government databases. Therefore, the increasing use of biometric technology in airports presents a significant biometric technology market trend.
South & Central America Biometrics Technologies Market Overview
The growth of the South America biometrics technologies market is driven by increasing security concerns, and the rising incidence of cybercrimes. Chile and Panama, among other South American countries, are adopting biometric technologies to improve operational capabilities and reduced the risk of credential theft. For instance, in August 2023, Chile and Panama joined UNHCR's BIMS family and attended three training sessions in Santiago de Chile, Iquique, and Arica for biometric enrollment. This initiative supports the country in creating distinct registered identities, improving operational capabilities, strengthening personal identification, and protecting data integrity.The rising awareness of the benefits provided by biometrics technologies is likely to benefit the biometrics technologies market in Brazil in the coming years. In August 2023, BioCon Brazil conducted a conference to spread biometric awareness in Brazil and the rest of South American countries. BioCon Brazil demonstrated the practical uses of biometrics technologies in criminal identification and preventing fraud.
South & Central America Biometrics Technologies Market Segmentation
- The South & Central America biometrics technologies market is categorized into component, type, authentication type, end user, and country.
- Based on component, the South & Central America biometrics technologies market is segmented into hardware, software, and services. The hardware segment held the largest share of South & Central America biometrics technologies market share in 2022.
- In terms of type, the South & Central America biometrics technologies market is segmented into contact, contactless, and hybrid. The contact segment held the largest share of South & Central America biometrics technologies market in 2022.
- By authentication type, the South & Central America biometrics technologies market is bifurcated into single factor authentication and multi factor authentication. The single factor authentication segment held a larger share of South & Central America biometrics technologies market in 2022.
- Based on end user, the South & Central America biometrics technologies market is categorized into government, BFSI, healthcare, defense & security, and others. The government segment held the largest share of South & Central America biometrics technologies market in 2022.
- By country, the South & Central America biometrics technologies market is segmented into Brazil, Argentina, and the Rest of South and Central America. Brazil dominated the South & Central America biometrics technologies market share in 2022.
- Aware, Inc.; Thales SA; NEC Corp; IDEMIA France SAS; HID Global Corp; and Fujitsu Ltd are some of the leading companies operating in the South & Central America biometrics technologies market.
Market Highlights
- Based on component, the South & Central America biometric technologies market is segmented into hardware, software, and services. The hardware segment held 59.6% share of South & Central America biometric technologies market share in 2022, amassing US$ 0.93 billion. It is projected to garner US$ 2.57 billion by 2030 to register 13.6% CAGR during 2022-2030.
- In terms of type, the South & Central America biometric technologies market is segmented into contact, contactless, and hybrid. The contact segment held 55.7% share of South & Central America biometric technologies market in 2022, amassing US$ 0.87 billion. It is anticipated to garner US$ 2.18 billion by 2030 to expand at 12.2% CAGR during 2022-2030.
- The single factor authentication segment held 79.3% share of South & Central America biometric technologies market in 2022, amassing US$ 1.23 billion. It is projected to garner US$ 3.16 billion by 2030 to expand at 12.5% CAGR from 2022 to 2030.
- The government segment held 38.8% share of South & Central America biometric technologies market in 2022, amassing US$ 0.60 billion. It is predicted to garner US$ 1.74 billion by 2030 to expand at 14.2% CAGR between 2022 and 2030.
- This analysis states that Brazil captured 55.2% share of South & Central America biometric technologies market in 2022. It was assessed at US$ 0.86 billion in 2022 and is likely to hit US$ 2.34 billion by 2030, registering a CAGR of 13.4% during 2022-2030.
- In March-2024, Cognitec Systems has joined the SALTO Group, a global leader in access control and ticketing solutions. The acquisition aims to strengthen research, development, and market reach for Cognitec's existing product portfolio while working on new technologies for expanding biometric markets.
- In January-2023, Cognitec has introduced a new version of its FaceVACS-Entry technology, which now allows for comparison of biometric photos against facial images from ID documents or databases. The device also includes presentation attack detection to ensure a live person interacts with it. The product includes Cognitec's ISO compliance software and a robust matching algorithm for fast verification and identification.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America biometric technologies market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the South & Central America biometric technologies market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the South & Central America biometric technologies market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Biometric Technologies Market Landscape
5. South & Central America Biometric Technologies Market - Key Market Dynamics
6. Biometric Technologies Market - South & Central America Market Analysis
7. South & Central America Biometric Technologies Market Analysis - by Component
8. South & Central America Biometric Technologies Market Analysis - by Type
9. South & Central America Biometric Technologies Market Analysis - by Authentication Type
10. South & Central America Biometric Technologies Market Analysis - by End User
11. South & Central America Biometric Technologies Market - Country Analysis
12. Competitive Landscape
13. Industry Landscape
14. Company Profiles
15. Appendix
List of Tables
List of Figures
Companies Mentioned
Some of the leading companies in the South and Central America Biometric Technologies market include:- Aware, Inc.
- Thales SA
- NEC Corp
- IDEMIA France SAS
- HID Global Corp
- Fujitsu Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 95 |
| Published | August 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 1.55 Billion |
| Forecasted Market Value ( USD | $ 4.1 Billion |
| Compound Annual Growth Rate | 12.9% |
| No. of Companies Mentioned | 6 |
