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Biometrics is a very strong authentication mechanism for verification of individuals by analysing their fingerprints, voice, face, iris and hand signatures. His or her intrinsic physical features can accurately identify every person. These technologies enable the government agencies to solve crimes, secure national borders and prevents frauds in voting. The benefits concerning biometric technologies include accurate identification, easy and safe for use, time-saving, security and convenience.
The South America Biometrics Technologies Market size is projected to reach approximately $ XX m by the end of 2024 with a CAGR close to X% from $XX m in 2018 during the forecast timeline 2018-2024. The Key factors that drive the growth of the market include rising application in government & commercial sector, increasing usage of biometrics technologies in consumer electronics, increasing concern for safety & security. Healthcare sector is expected to have significant growth due to the usage of biometrics technologies for protecting patient privacy.
Various parameters divided the South America Biometrics Technologies market. By the application, they are divided into voice recognition, automated fingerprint, vein recognition, face recognition, multi-model authentication and others. Among them, the automated fingerprint has the largest market, due to its usage in various civil applications and law enforcement. By the End-User, they are divided into healthcare, Commercial, Transport, IT & Telecommunication and others. Among them commercial sector has the largest market owing to the opportunities in defence & security sector. By function type, they are divided into contact function type, non-contact function type, and others. Among them, non-contact function type has the largest market because it can uniquely identify the individual within less amount of time and can process 30 individuals per minute. By Geography, Brazil has the largest market due to its advanced technologies and infrastructure developments towards biometrics technologies in that region.
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