Canada Biometric Technology Market Size & Outlook
Canada biometric technology market, 2018-2030 (US$M)
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Canada biometric technology market highlights
- The Canada biometric technology market generated a revenue of USD 4,927.7 million in 2023 and is expected to reach USD 18,270.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 20.6% 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 4,927.7 million |
| Market revenue in 2030 | USD 18,270.7 million |
| Growth rate | 20.6% (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, Canada accounted for 12.0% 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 North America, U.S. biometric technology market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 18,270.7 million by 2030.
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Biometric Technology Market Scope
Biometric Technology Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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 42.55% in 2023. Horizon Databook has segmented the Canada biometric technology market based on hardware, software, service covering the revenue growth of each sub-segment from 2018 to 2030.
Biometric technology is expected to grow in Canada owing to rising government initiatives and investment in biometric technology. For instance, a pilot program assessment in technology was conducted by GAO to secure border control with the use of biometric technology.
Similarly, facial biometric technology's prominent growth is augmenting this region's segment growth. For instance, the emerging use of facial recognition applications at the Canadian airport. This is part of the program introduced traveler screening program by the Canadian Border Services Agency.
This involves self-service border clearance kiosks that intend to make Canadian border points safer. Moreover, the government uses Biometric for immigration and visa programs, which is expected to drive market growth.
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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 Canada biometric technology market , including forecasts for subscribers. This country databook contains high-level insights into Canada biometric technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada biometric technology market size, by component, 2018-2030 (US$M)
Canada Biometric Technology Market Outlook Share, 2023 & 2030 (US$M)
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