The North America Next-Gen Biometric Authentication Market is expected to witness market growth of 20.1% CAGR during the forecast period (2024-2031).
The US market dominated the North America Next-Gen Biometric Authentication Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $45.48 billion by 2031. The Canada market is experiencing a CAGR of 22.7% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 21.7% during 2024-2031.
Biometric authentication, a rapidly evolving technology, plays a crucial role in modern security systems by verifying identities based on unique biological characteristics. Next-generation biometric authentication (NGBA) encompasses advanced modalities and innovative applications that enhance security and user convenience across various sectors.
The financial sector is central to adopting NGBA to combat fraud and ensure secure transactions. Biometric technologies such as fingerprint scanning, facial recognition, and voice authentication provide multi-factor authentication for online banking, mobile payments, and ATM access. Biometric authentication enhances customer experience by simplifying login processes and reducing the reliance on traditional passwords.
Biometric authentication is increasingly seen as essential for safeguarding high-security environments, such as military bases and aerospace research centers. The rising investments in aerospace technologies and the need for highly secure identification systems are expected to create substantial opportunities for biometric authentication solutions. As these industries adopt more sophisticated technologies, there will be a growing demand for next-generation biometric systems, contributing to the market’s growth in Canada and the broader defense and aerospace sectors. Thus, the combined impact of rising vehicle theft in the U.S. and growing investments in Canada's defense and aerospace sectors will likely fuel the expansion of the next-gen biometric authentication market.
The US market dominated the North America Next-Gen Biometric Authentication Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $45.48 billion by 2031. The Canada market is experiencing a CAGR of 22.7% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 21.7% during 2024-2031.
Biometric authentication, a rapidly evolving technology, plays a crucial role in modern security systems by verifying identities based on unique biological characteristics. Next-generation biometric authentication (NGBA) encompasses advanced modalities and innovative applications that enhance security and user convenience across various sectors.
The financial sector is central to adopting NGBA to combat fraud and ensure secure transactions. Biometric technologies such as fingerprint scanning, facial recognition, and voice authentication provide multi-factor authentication for online banking, mobile payments, and ATM access. Biometric authentication enhances customer experience by simplifying login processes and reducing the reliance on traditional passwords.
Biometric authentication is increasingly seen as essential for safeguarding high-security environments, such as military bases and aerospace research centers. The rising investments in aerospace technologies and the need for highly secure identification systems are expected to create substantial opportunities for biometric authentication solutions. As these industries adopt more sophisticated technologies, there will be a growing demand for next-generation biometric systems, contributing to the market’s growth in Canada and the broader defense and aerospace sectors. Thus, the combined impact of rising vehicle theft in the U.S. and growing investments in Canada's defense and aerospace sectors will likely fuel the expansion of the next-gen biometric authentication market.
List of Key Companies Profiled
- Fujitsu Limited
- Thales Group S.A.
- HID Global Corporation
- NEC Corporation
- Aware, Inc.
- Fingerprint Cards AB
- IDEMIA SAS
- M2SYS Technology, Inc.
- CardLogix Corporation
- Touchless Biometric Systems AG
Market Report Segmentation
By Component- Software
- Services
- Single-factor Authentication
- Multi-factor Authentication
- Fingerprint Recognition
- Facial Recognition
- Iris Recognition
- Voice Recognition
- Palm Vein Recognition
- Signature Recognition
- Other Technology
- Government
- BFSI
- Travel & Immigration
- Home Security
- Healthcare
- Defense
- Other End Users
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Next-Gen Biometric Authentication Market by Component
Chapter 6. North America Next-Gen Biometric Authentication Market by Authentication Type
Chapter 7. North America Next-Gen Biometric Authentication Market by Technology
Chapter 8. North America Next-Gen Biometric Authentication Market by End User
Chapter 9. North America Next-Gen Biometric Authentication Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Fujitsu Limited
- Thales Group S.A.
- HID Global Corporation
- NEC Corporation
- Aware, Inc.
- Fingerprint Cards AB
- IDEMIA SAS
- M2SYS Technology, Inc.
- CardLogix Corporation
- Touchless Biometric Systems AG
Methodology
LOADING...
