Summary
A New Market Study, titled “AFIS Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.
Overview
The AFIS Market is expected to reach USD 33,395.2 million by 2026 at a CAGR of 23.8% during the forecast period. Market Research Future (MRFR), in its report, envelops segmentation and drivers to provide a better glimpse of the market in the coming years. Automated fingerprint authentication system providers offer various technologies such as fingerprint and palmprint identification, positive identification, palm and slap matching, enhanced search sending to other AFIS, live scan units, mugshot systems, criminal history systems, etc.
Competitive Analysis
The key players of the AFIS Market are 3M Cogent, Inc. (U.S.), Safran Identity & Security (U.S.), NEC Corporation (Japan), M2SYS Technology (U.S.), Afix Technologies Inc (U.S.), Biometrics4ALL (U.S.), Fujitsu (Japan), Cross Match Technologies, Inc. (U.S.), HID Global Corporation (U.S.), M2SYS Technology (U.S.) among others.
In April 2020, Fujitsu Frontech Limited, a subsidiary of Fujitsu announced acquisition of a Texas-based biometric hardware, software and solutions provider- Fulcrum Biometrics.
In August 2020 , HID Global Corporation acquired Access-IS, a leading provider of Miniaturized Reader Devices. With this acquisition, the company has broadened its product portfolio and expanded its market reach with enhanced customer base.
In April 2019, IDEMIA announced launch of a new product- RapID X1, a handheld wireless biometric fingerprint identification device that provides real-time mobile identification assisting law enforcement officers in identifying potential suspects.
In January 2019, Suprema announced that the company has signed an agreement on distribution of commercial software license with Qualcomm Technologies, Inc. for licensing of Suprema’s BioSign, an under-display fingerprint recognition algorithm.
In September 2018, HID Global Corporation acquired a Florida, US-based biometric identity management & secure authentication solutions provider- Crossmatch.
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Segmental Analysis
The AFIS Market has been segmented based on component, type, end-users, and region.
Based on search type, the global market has been segmented into latent searches, ten-print searches. The ten-print searches systems segment accounted for the largest market share of 56.2% in 2018, with a market value of USD 56.2 million; it is expected to register a CAGR of 24.8% during the forecast period. The latent searches segment was the second-largest market in 2018. Ten-print searches require all ten fingers to be scanned by the fingerprint scanner. These are generally used in law enforcement, government records, elections, border control, and immigration applications. These fingerprints are known as latent prints and are collected through photography. Latent searches for fingerprints are used in criminal investigations and serve as important pieces of evidence that can help link a crime to potential suspects. Latent fingerprints are invisible and are generally formed when the body’s natural oils and sweat are deposited onto another surface through fingers.
By end user, the market has been segmented into BFSI, retail and consumer goods, transportation, healthcare, government, education, hospitality, and others. The government segment accounted for the largest market share of 22.0% in 2018, with a market value of USD 1,368.9 million; it is expected to register a CAGR of 23.9% during the forecast period. Rapid digitization of banks and financial institutions and the growing need to have a strong customer and employee identification protocols to prevent identity theft and fraud has led to significant investment in AFIS. AFIS helps in increasing customer trust in banking and financial institutes and in improving overall brand reputation. The retail industry is one of the fastest-growing industries across the globe. Although it was hit severally due to the ongoing novel coronavirus pandemic, the industry is slowly and steadily reviving and is expected to recover by next year (2021). To make identifying patients easier, facilities have started partnering with companies specializing in biometric fingerprint identity recognition. Law enforcement agencies and various intelligence bureaus use AFIS to identify criminals and carry out an effective criminal investigation. The demand for AFIS is increasing in the transportation industry largely due to continuous investments by enterprises in comprehensive solutions.
The AFIS Market, by region, has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America. North America accounted for the largest market share of in 2018, with a market value of USD 2,755.3 million; the market is expected to register the highest CAGR during the forecast period. Asia-Pacific was the second-largest market in 2018. North America dominates the AFIS (Automated Fingerprint Identification System) Market based on the region due to existing infrastructure and major players’ presence in this region. Due to rapidly growing government initiatives across various sectors such as automotive, transportation, retail, and consumer goods, Asia-Pacific was the second largest region.
Major Key Points in Table of Content
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global AFIS Market, by Component
7 Global AFIS Market, by Search Type
8 Global AFIS Market, by End User
9 Global AFIS Market, by Region
10 Competitive Landscape
11 Company Profile
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