Brazil Biometric Technology Market Size & Outlook
Brazil biometric technology market, 2018-2030 (US$M)
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Brazil biometric technology market highlights
- The Brazil biometric technology market generated a revenue of USD 832.8 million in 2023 and is expected to reach USD 3,645.4 million by 2030.
- The Brazil market is expected to grow at a CAGR of 23.5% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating component in 2023.
- Service is the most lucrative component segment registering the fastest growth during the forecast period.
Biometric technology market data book summary
| Market revenue in 2023 | USD 832.8 million |
| Market revenue in 2030 | USD 3,645.4 million |
| Growth rate | 23.5% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Service |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Service |
| Key market players worldwide | Bio-K+ International, Fujitsu Ltd, Assa Abloy AB ADR, IDEMIA, LG Electronics Inc ADR, NEC Corp, Accu-Time Systems, AFIX Biometric Identification, DERMALOG, Gemalto |
Other key industry trends
- In terms of revenue, Brazil accounted for 2.0% of the global biometric technology market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil biometric technology market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 3,376.0 million by 2030.
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Biometric Technology Market Scope
Biometric Technology Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Brazil biometric technology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biometric technology market will help companies and investors design strategic landscapes.
Hardware was the largest segment with a revenue share of 42.12% in 2023. Horizon Databook has segmented the Brazil biometric technology market based on hardware, software, service covering the revenue growth of each sub-segment from 2018 to 2030.
The emergence of facial recognition is propelling the biometric technology growth in Brazil. For instance, Brazil’s Federal Police have announced the implementation of facial recognition to identify the perpetrators of attacks in the region.
Some of the states in Brail have started to offer the new National Identity Card’s digital version with nationwide rollout by March 2023. Major players' acquisitions and mergers are augmenting the Biometric technology market growth.
For instance, Serpro, a state-owned company that handles federal data processing, approved a connection with the Persona platform for identity verification and orchestration. To conduct checks against the Brazilian Government's database of government-issued IDs, the company will collaborate with Serpro.
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Our clientele includes a mix of biometric technology market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil biometric technology market , including forecasts for subscribers. This country databook contains high-level insights into Brazil biometric technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil biometric technology market size, by component, 2018-2030 (US$M)
Brazil Biometric Technology Market Outlook Share, 2023 & 2030 (US$M)
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