Automated Fingerprint Identification Systems (AFIS) Market By Component (Software and Hardware), By Search Type (Tenprint Search, and Latent Search) and Application (Commercial, Governments, Banking & Finance, Healthcare, Hospitality, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030
The Global automated fingerprint identification system market was valued at $8.42 Billion in 2020, and is projected to reach $68.00 Billion by 2030, growing at a CAGR of 23.3% from 2021 to 2030.
The Automated Fingerprint Identification System (AFIS) is a biometric identification system that uses digital imaging technology to obtain, store, and analyze fingerprint data. Fingerprinting is a form of personal identification using finger print scan. Automated Fingerprint Identification Systems (AFIS) are widely used in ATM’s, smartphones, government sector, commercial & industrial sector and more.
In the coming years, the Automated Fingerprint Identification Systems (AFIS) industry is expected to generate moderate revenue with investments in development, research, and tests toward Automated Fingerprint Identification Systems (AFIS). However, the Automated Fingerprint Identification Systems (AFIS) market is reaching its maturing stage, and is expected to generate modest revenue for key players in the coming years.
Factors such the rising demand of the ASFI systems in banking & finance, and government sector, the increasing advantages of automated fingerprint identification systems over conventional method, and rising adoption of AFIS in smartphones and automated teller machines are expected to drive growth of the market in the future. However, Lack of skilled technicians acts as major barrier and hampers the market growth. Furthermore, factors such as rising demand of AFSI in border management, and growing adoption of online transactions across the globe are expected to offer lucrative opportunities for growth of the market.
The Automated Fingerprint Identification Systems (AFIS) market is analyzed by component, search type, and application. By component, the market is divided into software, and hardware. By search type, the market is divided into tenprint search, and latent search. By application, it is divided into commercial, governments, banking &finance, healthcare, hospitality and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with its prominent countries.
The key players profiled in the report include THALES, IDEMIA, Synaptics incorporated, SecuGen Corporation, HID global Corporation, Precise biometrics, Innovatrics, Suprema, Aware Inc. and DERMALOG Identification Systems GmbH. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
KEY BENEFITS FOR STAKEHOLDERS
This study includes the analytical depiction of the Automated Fingerprint Identification Systems (AFIS) market forecast along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information regarding the key drivers, restraints, and opportunities in the Automated Fingerprint Identification Systems (AFIS) market analysis.
The Automated Fingerprint Identification Systems (AFIS )market trends are quantitatively analyzed from 2020 to 2028 to highlight the financial competency of the industry.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEYMARKET SEGMENTS
By Component
Software
Hardware
By Search Type
Tenprint Search
Latent Search
By Application
Commercial
Governments
Banking & Finance
Healthcare
Hospitality
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
List of Company Profiles
THALES
IDEMIA
Synaptics incorporated
SecuGen Corporation
HID global Corporation
Precise biometrics
Innovatrics
Suprema
Aware Inc.
and DERMALOG Identification Systems GmbH.
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