Mexico Biometric Technology Market Size & Outlook
Mexico biometric technology market, 2018-2030 (US$M)
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Mexico biometric technology market highlights
- The Mexico biometric technology market generated a revenue of USD 751.4 million in 2023 and is expected to reach USD 3,376.0 million by 2030.
- The Mexico market is expected to grow at a CAGR of 23.9% 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 751.4 million |
| Market revenue in 2030 | USD 3,376.0 million |
| Growth rate | 23.9% (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, Mexico accounted for 1.8% 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 |
|---|
Mexico 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 42.59% in 2023. Horizon Databook has segmented the Mexico biometric technology market based on hardware, software, service covering the revenue growth of each sub-segment from 2018 to 2030.
The government of Mexico is taking significant initiatives to augment the Biometric technology market in this region. For instance, The Mexican government has introduced measures that violate people’s online privacy, including a massive, centralized urban monitoring system in Mexico City and legislation requiring people to provide their biometric data to use a mobile device.
Moreover, airports in Mexico have deployed biometric technology to reinforce border control. This process is done by introducing SITA’s Automated Border Control kiosk by automation in the entry process.
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Target buyers of Mexico biometric technology market databook
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Our clientele includes a mix of biometric technology market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Mexico biometric technology market , including forecasts for subscribers. This country databook contains high-level insights into Mexico biometric technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Mexico biometric technology market size, by component, 2018-2030 (US$M)
Mexico Biometric Technology Market Outlook Share, 2023 & 2030 (US$M)
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