Global Automated Fingerprint Identification System Market - Segmented By Component (Hardware And Software), By Search Type (Ten Print Searches And Latent Searches), By Application (Government, Healthcare, Transportation, Hospitality, Banking And Finance) and by Regional Analysis (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2023 – 2028)

Updated On: January, 2024

ID: 11845

Pages: 150

Automated Fingerprint Identification System Market Size & Growth (2023 - 2028)

The Automated Fingerprint Identification System Market was worth US$ 7642.6 million in the year 2022, and it is estimated to reach a valuation of US$ 33395.2 million by the end of 2028, expanding at an annual growth rate of 23.8% between 2023 and 2028. The increasing implementation of Automated Fingerprint Identification System as the secure identification system is a factor that is expected to lead the Automated Fingerprint Identification System market during the forecast period.

The Automated Fingerprint Identification System is nothing but a biometric identification technique which obtains, stores, and also analyses the finger print data using digital imaging technology.

Recent Developments

In the month of June 2018, Crossmatch Company has partnered with Accordant Technology Inc. to offer the advanced authentication solutions to enterprise customers and through this strategic partnership, accordant technology ltd would be an authorized seller of crossmatch’s digital persona software.

Market Drivers

The transformation and the technology evaluation from the manual process to digital process and the need for the transaction is expected to play an essential role in the growth of market of Automated Fingerprint Identification System across the globe. Another factor such as rise in demand for integrated and automated fingerprint identification system solutions across the globe which influence the growth of Automated Fingerprint Identification System market during the forecast period. Increasing adoption of mobile payment solutions, raise in border management activities and wide adoption of Automated Fingerprint Identification System technology are some of the major driving factors which promotes the growth of the revenue rate of Automated Fingerprint Identification System market during the forecast period.

Market Restraints

Availability of substitute identification techniques such as face, voice, iris identification and authentication, Lack of substantial technology breakthroughs that can ensure accuracy is one of the important barriers to market growth. Also, the lack of skilled technicians, problems associated with feature extraction and matching techniques and faulty sensors acts as an important deterrent to the growth of the Automated Fingerprint Identification System market.

AUTOMATED FINGERPRINT IDENTIFICATION SYSTEM MARKET REPORT COVERAGE:

REPORT METRIC	DETAILS
Market Size Available	2022 – 2028
Base Year	2022
Forecast Period	2023 - 2028
CAGR	23.8%
Segments Covered	By Component, Search Type, Application, and Region.
Various Analyses Covered	Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
Regions Covered	North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled	East Shore Technologies (U.S.), AFIX Technologies Inc. (U.S.), Papillon Systems (Russia), NEC Corporation (Japan), Fujitsu Ltd. (Japan), Crossmatch Technologies Ltd. (U.S.), HID Global Corporation (U.S.), Sonda Technologies Ltd. (Russia), Dermalog Identification Systems GmbH (Germany), and Suprema Incorporation (South Korea), 3M Cogent Inc. (U.S.), Morpho SA (France), M2SYS Technology (U.S.) and Others.

Market Segmentation

The Automated Fingerprint Identification System market is segmented based on component, based on search type and based on application.

Automated Fingerprint Identification System Market - By Component:

the Automated Fingerprint Identification System Market is divided into hardware and software. The hardware segment is further bifurcated into fingerprint input modules, microprocessors and microcontrollers, displays and others. The software component segment held the prominent share and is predicted to remain at the forefront throughout the forecast period due to rising demand for integrated Automated Fingerprint Identification System products for individual or criminal identification. Also, the automated fingerprint identification system providers are focussing on developing high performance and standard compliance system with full modularity, which allows the users to get a solution to the specific business process efficiently.

Automated Fingerprint Identification System Market - By Search Type:

the Automated Fingerprint Identification System Market is divided into ten print to ten print searches and latent to latent searches. The ten print to ten print searches segment holds the major share of the market and this segment is expected to hold the dominance during the forecast period due to increasing use of ten print searches in some of the sectors such as healthcare, hospitality, and transportation.

Automated Fingerprint Identification System Market - By Application:

the Automated Fingerprint Identification System Market is divided into government, healthcare, transportation, hospitality, banking and finance and other applications. The banking & finance segment held prominent share of the market among the other segments due to the factors such as increasing adoption of Automated Fingerprint Identification System technology to facilitate the secure financial transactions promotes the growth of the market.

Regional Analysis

On the basis of region, the Automated Fingerprint Identification System market is segmented into North America region, Asia Pacific region, Europe region, Latin America region and Middle East and Africa region.

North America region hold the prominent share of the market due to the presence of large number of biometric vendors. Furthermore, the gradual rise in demand for integrated and automated fingerprint identification system solutions in the region especially in some of the countries such as US, Canada and Mexico propels the growth of the market. The North America region is expected to hold the dominance during the forecast period.

Asia Pacific region is also expected to increase the market growth due to the rising adoption among enterprises in the region that are turning towards automated fingerprint identification solutions to secure against the potential threats in some of the major economies of the region such as India, China and Japan propels the growth of the revenue rate of the enterprises software market during the forecast period. Furthermore, the increasing of investments by the major key players of the market for R & D activities and also for the new advancements in the technology is also one of the major driving factor which promotes the growth of the revenue rate of the Automated Fingerprint Identification System market.

Europe region will gain good profits of the market followed by North America region and Asia Pacific region during the outlook period.

Key Players

Key market participants of Automated Fingerprint Identification System market are East Shore Technologies (U.S.), AFIX Technologies Inc. (U.S.), Papillon Systems (Russia), NEC Corporation (Japan), Fujitsu Ltd. (Japan), Crossmatch Technologies Ltd. (U.S.), HID Global Corporation (U.S.), Sonda Technologies Ltd. (Russia), Dermalog Identification Systems GmbH (Germany), and Suprema Incorporation (South Korea), 3M Cogent Inc. (U.S.), Morpho SA (France), M2SYS Technology (U.S.).

Impact of COVID 19 for Automated Fingerprint Identification System market

The world is suffering with an unprecedented disease corona virus which took lives of so many people all around the world and due to this pandemic, most of the industries has faced huge financial crisis due to the lockdown situations imposed by the government authorities of respective countries to reduce the spread of the corona virus. Because of the lockdown situations, most of the companies have shut down their operations and allowed their employees to work from home to continue some of the operational aspects. The Automated Fingerprint Identification System market has a significant growth rate before the pandemic and as per the analysis from the experts that this market will get an impeccable growth rate after the pandemic.