Market Entry-Fingerprint Sensor Market in Colombia: Analysis of Growth, Trends and Progress (2020 - 2025)

About the Market

Fingerprint scanners have been there in the industry for years. Many offices, banks, healthcare facilities, homes and manufacturing centers use this technology. Mobile devices are expected to lead the fingerprint sensors market due to the increasing demand for more secure mobile devices, rise in mobile payments and mobile payment platforms such as Samsung Pay, Apple Pay, Alipay, and WeChat Pay among others. The developing nations of Asia-Pacific are expected to dominate the fingerprint sensors market between 2015 and 2020; as these countries have a considerable market size and offer a significant scope for development. The major players in the fingerprint sensors market include Apple Inc. (U.S.), Fingerprint Cards AB (Sweden), Synaptics Inc. (U.S.), Goodix Ltd. (China), Egis Technology Inc. (Taiwan), Silead Inc. (China), IDEX ASA (Norway), Safran Identity & Security (France), Thales SA (France), Suprema Inc. (South Korea), Dermalog Identification Systems GmbH (Germany), Crossmatch (U.S.), NEC Corp. (Japan), and 3M Cogent Inc. (U.S.).

About the Geography                  

Colombia is the third largest country in Latin America with a very good education system and literacy rate. It has huge petroleum reserves and mineral sources, which contribute to its high GDP. The presidential republic government is a stable one as compared to other Latin American countries. The country has a seen a consistent growth in the last two decades and is the best country in Latin America for ease of doing business. It also has many trade agreements with the EU and is located at strategically with modern port facilities, which provide the country access to major markets, help in the rapid expansion of extractive industries, lower the unemployment rate, and kept the inflation in check.

The government has 13 trade agreements in force with CAN, Mercosur, Caricom, G3, EFTA, US-Colombia Trade Agreements and is currently negotiating 8 more. The country has been facing challenges like corruption, terrorism, and poor infrastructure.The difficult geography and poor transport infrastructure are not helping the government either but haven’t slowed down development.

Colombia’s credit rating was recently raised to Investment Grade by Moody & Standard & Poor.

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