Latin America Fingerprint Sensor Market

Latin America Fingerprint Sensor Market Size (2024 to 2029)

The Latin America Fingerprint Sensor Market is estimated to be USD 0.32 billion in 2024 and is projected to reach USD 0.67 billion by 2029, at a CAGR of 15.89% from 2024 to 2029.

Market Scenario

Fingerprint sensors are biometric security systems increasingly used by police, security industries, and, most recently, smartphones. Everyone has marks on their fingers that cannot be removed or changed in any way, and these marks have a distinct pattern known as a fingerprint. As there are numerous combinations of identification terms, these prints have become an ideal means of description.

The growth of the Latin America Fingerprint Sensors Market is credited to the growing technological developments along with the higher security-related risks and the rising mobile users in the world. The growing number of government projects in the region for encouraging the usage of fingerprint biometric technologies initiated to avoid data theft and reduce the crime rate is the primary driver for the growth of the Latin America Fingerprint Sensors Market. Also, the presence of a large number of manufacturers and designs in fingerprint sensors will lead to high-intensity competition boosting the growth of the fingerprint sensors market in Latin America. However, their highly sensitive character, while usage of cheap components would lead to a denial of access to the authorized person is the significant challenge that the Latin America Fingerprint Sensors Market is facing.

Market Segmentation

Latin America Fingerprint Sensors Market Analysis By Sensor Type

• Area & Touch Sensors
• Swipe Sensors

Latin America Fingerprint Sensors Market Analysis By Material

• Pyroelectric Material (Lithium Tantalate)
• Coating Material
• Piezoelectric Material (Quartz)
• Adhesives

Latin America Fingerprint Sensors Market Analysis By Technological Outlook

• Optical
• Capacitive
• RF Capacitive
• Other

Latin America Fingerprint Sensors Market Analysis By Application

• Government & Law Enforcement
• Military Defense & Aerospace
• Banking & Finance
• Consumer Electronics/Mobile Devices
• Travel & Immigration
• Smart Homes
• Healthcare
• Commercial

Geographical Analysis

• Brazil
• Mexico
• Argentina
• Chile & the Rest of Latin America

In the regional analysis of the Latin America Fingerprint Sensors Market, countries such as Brazil, Mexico, and Argentina are the major contributors to the market's revenue. At present, Brazil is a country that is dominating the revenue share. However, the fingerprint sensors market in Mexico is anticipated to grow at a higher CAGR because of an increase in the number of government projects and the use of fingerprint biometric technologies to control the expanding crime rate within the area.

Key Market Players

The key players of the Latin America Fingerprint Sensors Market include Shenzhen Goodix Technology Co., Ltd. (China), Fingerprint Cards AB (Sweden), Synaptics Incorporated (US), Apple Inc. (US), Egis Technology Inc. (Taiwan), CrucialTec (South Korea), NEXT Biometrics Group ASA (Norway), Novatek Microelectronics Corp. (Taiwan), Q Technology (Group) Company Limited (China), Qualcomm Technologies, Inc. (US), IDEX Biometrics ASA (Norway), and Others.

Recent Happenings in the Market

• CrucialTec has developed a standalone fingerprint module that can be installed in any type of connection or Internet of Things (IoT) devices, which is unique in that it operates on its embedded processor. In contrast, other fingerprint scanners for smartphones typically require the processing capability of a smartphone application processor chip. 
• Shenzhen Goodix has an automotive fingerprint authentication solution that enables the secured identification in the vehicle with a log-in of one-press and access to customized driver profiles, settings, and smart locks.