Colombia Biometric Technology Market Size & Outlook
Colombia biometric technology market, 2018-2030 (US$M)
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Colombia biometric technology market highlights
- The Colombia biometric technology market generated a revenue of USD 474.2 million in 2023 and is expected to reach USD 1,835.5 million by 2030.
- The Colombia market is expected to grow at a CAGR of 21.3% 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 474.2 million |
| Market revenue in 2030 | USD 1,835.5 million |
| Growth rate | 21.3% (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, Colombia accounted for 1.2% 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 |
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Colombia 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 42.41% in 2023. Horizon Databook has segmented the Colombia biometric technology market based on hardware, software, service covering the revenue growth of each sub-segment from 2018 to 2030.
Colombia has witnessed an increasing use of biometric solutions, including fingerprint recognition, facial recognition, and iris scanning, in applications ranging from government agencies to banking and finance, healthcare, transportation, and law enforcement.
The Colombian government has shown interest in implementing biometric technology for initiatives such as biometric voter registration, e-passports, and national identification programs. For instance, Cedula Digital is an existing identity document and a mobile ID part of the National Digital Transformation Plan.
In addition to granting citizens access to remote services and allowing in-person ID verification, Colombia's new Cédula Digital opens up opportunities for secure, in-person ID verification in addition to granting citizens access to remote services and allowing in-person ID verification.
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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 Colombia biometric technology market , including forecasts for subscribers. This country databook contains high-level insights into Colombia biometric technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Colombia biometric technology market size, by component, 2018-2030 (US$M)
Colombia Biometric Technology Market Outlook Share, 2023 & 2030 (US$M)
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