October 24, 2019
— Latin America Fingerprint Sensor Market is expected to reach USD XX Billion by 2026 from USD XX Billion in 2016 at a CAGR of XX% (Detailed analysis of the market CAGR is provided in the report).
A direct fingerprint reader is also known as DFR are the fingerprint reader or in other words a biometrics device, which uses automated methods for recognizing a normal person only based on the unique physical characteristics present in a person's fingerprint. A fingerprint is usually made up of an arrangement of ridges and furrows along with unique characteristics that may occur at ridge bifurcation or at times in the ridge ending). The fingerprint scanning primarily provides an identification of any person on the basis of acquisition and verification of the unique patterns and ridges present in a fingerprint.
Latin America fingerprint sensor market is divided into type, technology, material, and application. Based on the type, the market is segmented into area & touch sensors and swipe sensors. The technology segment of the market comprises optical sensing technology, capacitive and RF capacitive sensing technology, and other sensing technologies. On the basis of material, the market includes pyroelectric material (lithium tantalate), coating material, Piezoelectric material (quartz), and adhesives. Government & law enforcement, military, defense, & aerospace, banking & finance, consumer electronics/mobile devices, travel & immigration, smart homes, healthcare, and commercial are the various application areas considered under the scope of the report.
There is a rise in biometrics adoption throughout Latin America, especially in Mexico, with a stipulated time set by the National Banking and Security Commission or CNBV for deploying fingerprint identification technology throughout the financial institutions. All the banks, government agencies and commercial entities present in Latin America have embraced the advanced biometrics solutions due to the speed, accuracy, reliability as well as fraud-fighting capabilities.
Various manufacturers are using advanced biometric solutions for providing affordable and high-quality fingerprint sensors to be used in devices such as smartphones, tablets, payment terminals, flash drives, time registration systems, PC’s, doors, and USB-tokens among others. The fingerprint sensor market in Brazil is focusing on a low cost and no compromise area sensors. The great quality, lower cost, and slim format sensors are being introduced by the companies into the market for attracting more number of customers as the penetration rate of smartphones in Brazil remain more than 90%.
Latin America has further seen a huge surge across a number of different industry verticals with new technologies being adopted by government agencies and banks to boost the growth of the Latin American economy. Brazil and Mexico are some of the largest markets for the fingerprint sensor in Latin America and is expected to monitor huge growth in the future as well.
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