int(6846)

Innovatrics in LatAm

3/29/2017

Latin America is the fastest-growing market for biometric identification technology, with IBG (International Biometrics Group) estimating that it now accounts for 10% of global revenue in the biometrics market. The bulk of the growth has been seen in government projects such as ID cards, passports, driving license, voter cards, etc., but there has also been a sharp increase in the use of biometrics in healthcare, financial services, and security.

Innovatrics has in recent years completed several successful projects in Latin America, including an ePassport Project in Peru, Civil Registration Project in Haiti and Driving Licenses Project in Brazil.  We have made a strong start to 2017 in the region, landing a number of large-scale, multimodal ABIS (Automatic Biometric Identification System) projects.

Oscar Flores, Innovatrics BDM for Latin America & Spain comments: Latin America is a strategically important region for Innovatrics and we have started 2017 positively, with deals agreed for a number of significant projects. With a strong pipeline and the recent launch of our updated facial recognition technology, we predict that our revenues in Latin America will grow significantly this year”.

With rising security concerns, IT spending and data theft among the key drivers of the need for biometric technology in the region, over 300 million people in South & Central America have had their biometric information taken. According to a report by TechNavio, the biometrics market in Latin America is expected to grow at a CAGR of 23.7% in 2017 and 2018.

Related news

Jan Lunter: ‘In some form, Innovatrics is probably present in every country in the world’

Innovatrics CEO, Jan Lunter, recently sat with TECHBOX and discussed the company’s experiences in deploying its top-ranked technology all over the world. Gracing the cover, he gets candid with the challenges of working in a multicultural dynamic, explains how its customer-driven approach came about, and clears the air concerning privacy issues. Here’s an excerpt of... Read more

9/6/2019

Stay Ahead of the Competition: Become an Innovatrics Partner & Join the Future of Facial Recognition Technology

The Innovatrics Partner Program gives you a competitive edge. As the global facial recognition market is poised to reach $14.95 billion by 2026, it is imperative to choose a technology partner that can take you one step ahead. Innovatrics Partner Program can be your ticket to growth and profitability. For system integrators and independent software... Read more

5/21/2019

This site uses cookies to provide services, personalise ads and to analyse traffic. You consent to our cookies if you continue to use our website. More info

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close