The Automated Fingerprint Identification System Market was worth US$ 7642.6 million in the year 2021, and it is estimated to reach a valuation of US$ 33395.2 million by the end of 2026, expanding at an annual growth rate of 23.8% between 2021 and 2026. 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.
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.
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.
The Automated Fingerprint Identification System market is segmented based on component, based on search type and based on application.
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.
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.
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.
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 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.).
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.
1.1 Market Definition
1.2 Scope Of The Report
1.3 Study Assumptions
1.4 Base Currency, Base Year And Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market Share Analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Automated Fingerprint Identification System Market, By Component
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-O-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Automated Fingerprint Identification System Market, By Search Type
6.2.1 Ten Print Searches
6.2.2 Latent Searches
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-O-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Automated Fingerprint Identification System Market, By Application
6.3.7 Market Size Estimations & Forecasts (2021-2026)
6.3.8 Y-O-Y Growth Rate Analysis
6.3.9 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance And Administration Market, By Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Component
7.2.3 By Search Type
7.2.4 By Application
7.3.1 By Country
22.214.171.124 Rest Of Europe
7.3.2 By Component
7.3.3 By Search Type
7.3.4 By Application
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest Of Asia-Pacific
7.4.2 By Component
7.4.3 By Search Type
7.4.4 By Application
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest Of Latin America
7.5.2 By Component
7.5.3 By Search Type
7.5.4 By Application
7.6 Middle East And Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Component
7.6.3 By Search Type
7.6.4 By Application
8. Key Player Analysis
8.1 3M Cogent Inc
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 East Shore Technologies
8.3 AFIX Technologies Inc
8.4 Papillon Systems
8.5 NEC Corporation
8.6 Fujitsu Ltd.
8.7 Crossmatch Technologies Ltd.
8.8 HID Global Corporation
8.9 Sonda Technologies Ltd.
8.10 Dermalog Identification Systems Gmbh
9. Market Outlook & Investment Opportunities
List Of Tables
List Of Figures