The Key Players in Biometrics Market in Latin America

Thursday 12 February 2015, Amsterdam

TechNavio recognizes the following companies as the key players in the Biometrics Market in Latin America: 3M Cogent Inc., Lumidigm Inc., NEC Corp., Safran SA, Aware Inc., BIO-Key International Inc., Cognitec Systems GmbH, Cross Match Technologies Inc., DigitalPersona Inc., Fujitsu Ltd., GAMASIS SA DE CV, Griaule biometrics, Innovatrics sro, M2SYS LLC, Neokoros TI LTDA, Precise Biometrics Inc., Sixbell, Suprema Inc., ZKTeco Inc.

Commenting on the report, an analyst from TechNavio’s team said: “There has been consolidation among industry players in the market. Both new entrants and existing vendors take the acquisition route to either enter the market or broaden the portfolio of their offerings. The market is experiencing a transformation in its product application from government to commercial with tech companies such Apple, Microsoft, Google, and Facebook driving recent acquisitions and expected to propel further activity. Such applications targeted towards the Commercial sector will help expand the market among small and large businesses. Fragmentation of the industry continues to attract new entrants seeking to acquire platforms, scale upward, or enhance market share through acquisition of smaller firms.”

According to the report, the high adoption of biometric solutions by government for public safety is one of the drivers. Rising terror threats and activities put public safety at risk, hence high-level security systems are needed. Governments are increasingly investing in biometrics to upgrade and enhance their security infrastructure so that they can protect people, prevent loss of confidential data, and secure security installations.

Further, the report states that the availability of inexpensive non-biometric technologies is one of the key challenges. The presence of low-cost alternative technologies is affecting the growth of the Biometrics market as large organizations opt for these economical products.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.