25-June-2019: The global automated fingerprint identification system (AFIS) market
size is projected to reach USD 12.46 billion by 2025, according to a new study
conducted by Grand View Research, Inc. It is anticipated to expand at a CAGR of
18.4% over the forecast period. Increasing demand for advanced security systems
across various business domains is expected to boost the growth. In addition,
rising adoption of mobile payment solutions and demand for integrated AFIS
solutions are expected to fuel the expansion.
AFIS is increasingly used to
cater to the safety and security needs of individuals and organizations, on
account of growing number of threats across the globe. A biometric
identification system is difficult to circumvent. Systems based on this
technology provide a secure identification and verification mechanism to
mitigate the level of transaction frauds and security breaches. This factor is
expected to drive the demand for automated fingerprint identification systems
over the forecast period.
Smart homes are equipped with
advanced security systems such as fingerprint access control.
Additionally,existing building retrofits are installing biometric security
systems to counter thefts and malicious entries. This is further expected to
boost the market growth. Furthermore, increasing terrorist activities and theft
cases have compelled governments to deploy AFIS solutions in various government
agencies, which, in turn, is expected to drive the market in near future.
The rising demand for AFIS
technology in enterprises to monitor the attendance of employees is expected to
propel the market growth. Developers are focusing on introducing automated
fingerprint identification systems that can withstand extreme conditions and
can be used suitably across various industries, including manufacturing, IT and
telecommunication, construction, and oil and gas, among others.
In
depth research report on Automated Fingerprint Identification System (AFIS)
Market
Further
key findings from the study suggest:
· Software
segment is anticipated to account for a significant market share over the
forecast period owing to the advantages offered by biometric identity and
security software
· Government
segment is expected to account for a significant market share over the forecast
period owing to the increasing use of AFIS technology in e-governance
applications and law and enforcement agencies
· North
America is expected to continue to lead the market over the forecast period and
reach USD 4.05 billion by 2025. Growing adoption of AFIS by law enforcement
agencies for criminal identification is anticipated to propel regional market
· Key
companies operating in the Automated Fingerprint Identification System (AFIS)
market include Gemalto NV; NEC Corporation; Crossmatch; IDEMIA; Dermalog
Identification Systems GmbH; SUPREMA; Fujitsu Limited; Sonda Technologies; HID
Global Corporation; Papillon Systems; East Shore Technologies, Inc.; and AFIX
Technologies.
Grand View Research has
segmented the global Automated Fingerprint Identification System (AFIS) market
on the basis of component, end use, and region:
Automated
Fingerprint Identification System (AFIS) Component Outlook (Revenue, USD
Million; 2014 - 2025)
· Hardware
· Software
· Service
Automated
Fingerprint Identification System (AFIS) End-use Outlook (Revenue, USD Million;
2014 - 2025)
· Banking
& Finance
· Consumer
Electronics
· Defense
& Security
· Government
· Healthcare
· Transport/Logistics
· Others
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About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
