PUBLISHER: Acute Market Reports | PRODUCT CODE: 1129124
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1129124
Key Market Insights
Rising government spending on safety & security coupled with technological evolution has risen significantly on a global scale
The global automated fingerprint identification systems market is growing competently, expected to grow at a CAGR of 16.5% and is projected to reach 26.86 Bn by 2030.
Increasing adoption towards authentication and recognition systems, growing concern towards securely transaction systems, growing application for the digital identification process, and development of advanced authenticated security systems is projected to ensure continued growth for automated fingerprint identification system in the years to come.
"Rising need for secure transaction and increasing adoption towards mobile payment solutions among the consumers will spur revenue growth"
The digital revolution has increased an impact on the outsourcing industry and will continue to shape digital solutions in the near future. Technological advancements like AI and IoT have increased a wide range of applications within the market, thereby driving the market for automated fingerprint identification systems globally. For instance, in April 2021, "Softtek" finalized a partnership with a Spanish company named "Vector ITC" for capability expansion strategy towards banking, consumer products, and industrial sectors. Moreover, increasing demand for IoT devices and applications, coupled with increased portability of computing power and AI-driven tools, is expected to fuel the market for automated fingerprint identification systems.
"Early adoption of new technology and the presence of top AFIS vendors in the U.S. market to drive the market growth"
The U.S. dominates the AFIS market on a global scale due to the early adoption of the technology and the presence of major AFIS vendors across the region. In addition, growing adoption by education sector, retail, and BFSI, retail is expected to drive the market growth.
North America is mostly driven by federal agencies, such as the Federal Bureau of Investigation, U.S. Customs and Border Protection, and others. By the end of 2021, North America dominated the AFIS market in withholding a market share of around 35%. The developed countries such as the U.S. and Canada are contributing significantly to the automated fingerprint identification systems market globally.
List of Companies Covered:
Afix Technologies Inc.
Cross Match Technologies Inc.
DERMALOG Identification Systems GmbH
HID Global Corporation
Key Industry Development:
In Feb 2021, NEC Corporation have announced to provide a facial recognition system for the new "One ID" check-in to boarding process introduced by Narita International Airport Corporation (NAA).
In June 2021, Vaccine Alliance, Gavi, Simprints Technology Ltd., and NEC Corporation have signed a memorandum of understanding (MoU) on the use of biometrics to improve immunization coverage in developing countries.
Historical & Forecast Period:
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automated Fingerprint Identification Systems market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report
Micro and macro environment factors that are currently influencing the Automated Fingerprint Identification Systems market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Research Period 2020-2030
Base Year 2021
Forecast Period 2022-2030
Historical Year 2020
Unit USD Million
Others (Industrial, Hospitality, Defense & Security)
Region Segment (2020-2030; US$ Million)
Rest of North America
UK and European Union
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East and Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
Pre COVID-19 situation
Post COVID-19 situation
Key questions answered in this report:
What are the key micro and macro environmental factors that are impacting the growth of Automated Fingerprint Identification Systems market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Automated Fingerprint Identification Systems market?
Which is the largest regional market for Automated Fingerprint Identification Systems market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Automated Fingerprint Identification Systems market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Automated Fingerprint Identification Systems market worldwide?