The North America Contactless Biometrics Technology Market would witness market growth of 16.0% CAGR during the forecast period (2024-2031).
The US market dominated the North America Contactless Biometrics Technology Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $12,570.7 million by 2031. The Canada market is experiencing a CAGR of 18.3% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 17.5% during (2024 - 2031).
This technology is versatile and finds applications across numerous sectors. In the healthcare sector, this technology enhances operational efficiency and patient safety through improved patient identification, access control to sensitive areas, and electronic health records (EHR) protection. By utilizing facial recognition and iris scanning, healthcare facilities can quickly and accurately verify patient identities, significantly reducing medical errors.
Additionally, contactless biometric systems secure restricted areas like operating rooms and drug storage units, ensuring that only authorized personnel gain access. The significance of this technology is further highlighted by the Italian government’s allocation of €1.67 billion for electronic medical records (EMR) and e-health infrastructure as part of the National Recovery and Resilience Program (NRRP). This investment underscores the commitment to enhancing healthcare systems with advanced technologies like contactless biometrics, which are crucial for the future of patient care.
The rising incidence of cyber security incidents in Canada significantly impacts the growth of this market. According to Statistics Canada, approximately 16% of Canadian businesses experienced cyber security issues in 2023, reflecting an upward trend in threats faced by organizations. The alarming rise in cybercrime in the United States is significantly influencing the growth of this market. In 2022 alone, the U.S. reported over 800,000 cybercrime incidents, with financial losses skyrocketing nearly 50%, from $6.9 billion to $10.3 billion. This surge in cyber threats drives businesses and organizations to seek more robust security measures to protect sensitive data and financial transactions. Therefore, the rising cyber security incidents in Canada and the USA are significantly propelling the growth of the contactless biometrics technology market.
Free Valuable Insights: The Contactless Biometrics Technology Market is Predict to reach USD 50.4 Billion by 2031, at a CAGR of 16.6%
Based on Component, the market is segmented into Software, Hardware, and Service. Based on Application, the market is segmented into Face, Fingerprint, Iris, Hand Geometry, Voice, and Other Application. Based on End Use, the market is segmented into Government, Banking & Finance, Consumer Electronics, Healthcare, Defense & Security, Transport & Logistics, and Other End Use. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Component
By Application
By End Use
By Country
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