South & Central America Biometric Technologies Market Forecast to 2030

At 12.9% CAGR, South & Central America Biometric Technologies Market is Speculated to be Worth US$ 4,104.55 Million by 2030, says the Research Team

According to the Research Team’ research, the South & Central America biometric technologies market was valued at US$ 1,555.64 million in 2022 and is expected to reach US$ 4,104.55 million by 2030, registering a CAGR of 12.9% from 2022 to 2030. Technological advancements reinforcing security levels, expanding application range in government sector, and increasing crime rates are among the critical factors attributed to drive the South & Central America biometric technologies market growth.

Technological advancements in biometric technologies are focused on enhancing their versatility, security, and reach to masses. Artificial Intelligence (AI) and Machine Learning (ML) further contributing to the improvement of accuracy and reliability of biometric systems, lowering the possibilities of false positives and negatives, which would have a positive impact on security and user confidence. The expansion of AI-driven biometrics, particularly facial and behavioral biometrics (gait, voice, and accent recognition), is likely to fuel the emergence of new forms of real-time biometric identity verification through on-premises cameras. Biometric authentication technology has become more prevalent in the industrial sector with the most recent AI advancements. According to IBM, 20% of breaches are the result of compromised credentials. Moreover, detecting and addressing a data breach can take an average of 287 days, which further worsens the impact. AI-based security solutions are likely to be instrumental for businesses to stay competitive in any sector. IBM mentions 25% of companies had fully implemented AI-based security in place as of 2021, while 40% had completed partial implementation. As of 2021, purchasing AI-powered security could help save a business up to US$ 3.81 million. Although secure biometric passwords are in use and more sophisticated biometric solutions are available in the market, newer technologies concentrate on extracting more sophisticated biometric markers from the human body, each of which adds another difficult-to-fake biometric trait into the secure authentication process. These can include reading DNA signatures, hand geometry, odor recognition, and cardiac pattern recognition. Therefore, technological advancements are creating exciting opportunities for the biometric technology market.

On the contrary, high capital requirements hampers the growth of South & Central America biometric technologies market.

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.

By authentication type, the South & Central America biometric technologies market is bifurcated into single factor authentication and multi factor authentication. 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.

Based on end user, the South & Central America biometric technologies market is categorized into government, BFSI, healthcare, defense & security, and others. 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.

Based on country, the South & Central America biometric technologies market is categorized into Brazil, Argentina, and the Rest of South and Central America. Our regional 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.

Key players operating in the South & Central America biometric technologies market are Aware, Inc.; Thales SA; NEC Corp; IDEMIA France SAS; HID Global Corp; and Fujitsu Ltd, among others.

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.

o 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.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o 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.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o 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.
o 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
1.1 The the Reporting Teams Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Biometric Technologies Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain
5. South & Central America Biometric Technologies Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Use of Biometric Technologies in Consumer Electronics
5.1.1 Expanding Application Range in Government Sector
5.1.2 Increasing Crime Rates
5.2 Market Restraints
5.2.1 High Capital Requirements
5.2.2 Data Security Concerns
5.3 Market Opportunities
5.3.1 Technological Advancements Reinforcing Security Levels
5.4 Future Trends
5.4.1 Increasing Use of Biometric Systems at Airports
5.5 Impact of Drivers and Restraints:
6. Biometric Technologies Market – South & Central America Market Analysis
6.1 Biometric Technologies Market Revenue (US$ Billion), 2020-2030
6.2 Biometric Technologies Market Forecast Analysis
7. South & Central America Biometric Technologies Market Analysis – by Component
7.1 Hardware
7.1.1 Overview
7.1.2 Hardware: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
7.2 Software
7.2.1 Overview
7.2.2 Software: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
7.3 Services
7.3.1 Overview
7.3.2 Services: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
8. South & Central America Biometric Technologies Market Analysis – by Type
8.1 Contact
8.1.1 Overview
8.1.2 Contact: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
8.2 Contactless
8.2.1 Overview
8.2.2 Contactless: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
8.3 Hybrid
8.3.1 Overview
8.3.2 Hybrid: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
9. South & Central America Biometric Technologies Market Analysis – by Authentication Type
9.1 Single Factor Authentication
9.1.1 Overview
9.1.2 Single Factor Authentication: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
9.2 Multi factor Authentication
9.2.1 Overview
9.2.2 Multi factor Authentication: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
10. South & Central America Biometric Technologies Market Analysis – by End User
10.1 Government
10.1.1 Overview
10.1.2 Government: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
10.2 BFSI
10.2.1 Overview
10.2.2 BFSI: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
10.3 Healthcare
10.3.1 Overview
10.3.2 Healthcare: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
10.4 Defense and Security
10.4.1 Overview
10.4.2 Defense and Security: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
10.5 Others
10.5.1 Overview
10.5.2 Others: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
11. South & Central America Biometric Technologies Market – Country Analysis
11.1 South & Central America Market Overview
11.1.1 South & Central America: Biometric Technologies Market, By Key Country – Revenue 2022 (US$ Billion)
11.1.2 South & Central America: Biometric Technologies Market – Revenue and Forecast Analysis – by Country
11.1.2.1 South & Central America: Biometric Technologies Market – Revenue and Forecast Analysis – by Country
11.1.2.2 Brazil: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
11.1.2.2.1 Brazil: Biometric Technologies Market Breakdown, by Component
11.1.2.2.2 Brazil: Biometric Technologies Market Breakdown, by Type
11.1.2.2.3 Brazil: Biometric Technologies Market Breakdown, by Authentication Type
11.1.2.2.4 Brazil: Biometric Technologies Market Breakdown, by End User
11.1.2.3 Argentina: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
11.1.2.3.1 Argentina: Biometric Technologies Market Breakdown, by Component
11.1.2.3.2 Argentina: Biometric Technologies Market Breakdown, by Type
11.1.2.3.3 Argentina: Biometric Technologies Market Breakdown, by Authentication Type
11.1.2.3.4 Argentina: Biometric Technologies Market Breakdown, by End User
11.1.2.4 Rest of South & Central America: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
11.1.2.4.1 Rest of South & Central America: Biometric Technologies Market Breakdown, by Component
11.1.2.4.2 Rest of South & Central America: Biometric Technologies Market Breakdown, by Type
11.1.2.4.3 Rest of South & Central America: Biometric Technologies Market Breakdown, by Authentication Type
11.1.2.4.4 Rest of South & Central America: Biometric Technologies Market Breakdown, by End User
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product Development
13.4 Merger and Acquisition
14. Company Profiles
14.1 Aware, Inc.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Thales SA
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 NEC Corp
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 IDEMIA France SAS
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 HID Global Corp
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Fujitsu Ltd
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
15. Appendix
15.1 About the the Reporting Teams
15.2 Word Index

LIST OF TABLES

Table 1. Biometric Technologies Market Segmentation
Table 2. List of Vendors
Table 3. Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Table 4. Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Component
Table 5. Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Type
Table 6. Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Authentication Type
Table 7. Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by End User
Table 8. South & Central America: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Country
Table 9. Brazil: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Component
Table 10. Brazil: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Type
Table 11. Brazil: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Authentication Type
Table 12. Brazil: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by End User
Table 13. Argentina: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Component
Table 14. Argentina: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Type
Table 15. Argentina: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Authentication Type
Table 16. Argentina: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by End User
Table 17. Rest of South & Central America: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Component
Table 18. Rest of South & Central America: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Type
Table 19. Rest of South & Central America: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by Authentication Type
Table 20. Rest of South & Central America: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion) – by End User
Table 21. List of Abbreviation

LIST OF FIGURES

Figure 1. Biometric Technologies Market Segmentation, by Country
Figure 2. Ecosystem: Biometrics Technologies Market
Figure 3. Biometric Technologies Market – Key Market Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Biometric Technologies Market Revenue (US$ Billion), 2020-2030
Figure 6. Biometric Technologies Market Share (%) – by Component (2022 and 2030)
Figure 7. Hardware: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 8. Software: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 9. Services: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 10. Biometric Technologies Market Share (%) – by Type (2022 and 2030)
Figure 11. Contact: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 12. Contactless: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 13. Hybrid: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 14. Biometric Technologies Market Share (%) – by Authentication Type (2022 and 2030)
Figure 15. Single Factor Authentication: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 16. Multi factor Authentication: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 17. Biometric Technologies Market Share (%) – by End User (2022 and 2030)
Figure 18. Government: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 19. BFSI: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 20. Healthcare: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 21. Defense and Security: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 22. Others: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 23. South & Central America: Biometric Technologies Market, By Key Country – Revenue 2022 (US$ Billion)
Figure 24. South & Central America: Biometric Technologies Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 25. Brazil: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 26. Argentina: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 27. Rest of South & Central America: Biometric Technologies Market – Revenue and Forecast to 2030 (US$ Billion)
Figure 28. Heat Map Analysis by Key Players
Figure 29. Company Positioning & Concentration