North America Retail Biometrics Market Size, Share & Trends Analysis Report By Deployment Mode (On-Premises and Cloud-Based), By Type, By Component, By Application, By Retail Type, By Country and Growth Forecast, 2024 - 2031

Analysis of Market Size & Trends

The North America Retail Biometrics Market would witness market growth of 31.0% CAGR during the forecast period (2024-2031).

The US market dominated the North America Retail Biometrics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $9,414.2 million by 2031. Canada market is experiencing a CAGR of 33.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 32.7% during (2024 - 2031).

Biometric technology encompasses various methods of identifying and authenticating individuals based on unique physical or behavioural traits. Retailers use biometric systems to verify customer identities during transactions, ensuring secure payment processing and reducing instances of fraud. For example, facial recognition systems can authenticate customers at checkout, while fingerprint scanners can be integrated into point-of-sale (POS) systems for secure access.

In addition, biometric technologies are employed for secure access to restricted areas within retail environments, such as stockrooms and management offices. Retailers can enhance security by allowing only authorized personnel to access sensitive information and assets, thus reducing the risk of theft and unauthorized access.

The retail industry in Mexico is witnessing substantial growth, with the International Trade Administration (ITA) estimating its revenue at approximately USD 76 billion in 2023. This growth trajectory is underpinned by various factors that enhance consumer shopping experiences and create significant opportunities for technological advancements, particularly in the retail biometrics market. The rise in retail revenues reflects a shift in consumer behaviour towards convenience and security, which drives the adoption of biometric technologies.

Free Valuable Insights: The Retail Biometrics Market is Predict to reach USD 40.0 Billion by 2031, at a CAGR of 31.7%

Based on Deployment Mode, the market is segmented into On-Premises and Cloud-Based. Based on Type, the market is segmented into Fingerprint Recognition, Facial Recognition, Iris Recognition, Voice Recognition, and Vein Recognition & Others. Based on Component, the market is segmented into Hardware, Software, and Services. Based on Application, the market is segmented into Payment Authentication, Customer Identification & Loyalty Programs, Access Control & Security, Fraud Detection & Prevention, Workforce Management, and Others. Based on Retail Type, the market is segmented into Supermarkets & Hypermarkets, Specialty Stores, E-Commerce Platforms, Department Stores, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

• Cognitec Systems GmbH (Salto Systems, S.L.)
• IDEMIA SAS (Advent International, Inc.)
• NEC Corporation
• Fujitsu Limited
• Thales Group S.A.
• BIO-key International, Inc.
• Anviz Global Inc.
• HID Global Corporation (Assa Abloy AB)
• M2SYS Technology, Inc.
• Fingerprint Cards AB

North America Retail Biometrics Market Report Segmentation

By Deployment Mode

• On-Premises
• Cloud-Based

By Type

• Fingerprint Recognition
• Facial Recognition
• Iris Recognition
• Voice Recognition
• Vein Recognition & Others

By Component

• Hardware
• Software
• Services

By Application

• Payment Authentication
• Customer Identification & Loyalty Programs
• Access Control & Security
• Fraud Detection & Prevention
• Workforce Management
• Others

By Retail Type

• Supermarkets & Hypermarkets
• Specialty Stores
• E-Commerce Platforms
• Department Stores
• Others

By Country

• US
• Canada
• Mexico
• Rest of North America