AFIS (Automated Fingerprint Identification System) Market Insight
A recent report added
by Market Research Future entitled Global Automated Fingerprint Identification System (AFIS) Market reveals that it will generate remunerative
prospects for key players post COVID-19 crisis. As per the latest readings,
MRFR finds the market would rise at a pace of ~22% CAGR and would reach USD 13
billion valuations. The rising period predicted is to be from 2017-2022. The
entire report aims to provide an additional illustration of the latest
scenario, economic slowdown globally, and COVID-19 impact on the overall
industry.
Industry Players
Top industry players
operating in the global automated fingerprint identification systems market
include Safran Identity & Security (U.S.), 3M Cogent, Inc. (U.S.), M2SYS
Technology (U.S.), NEC Corporation (Japan), Biometrics4ALL (U.S.), Afix
Technologies Inc (U.S.), Cross Match Technologies, Inc. (U.S.), Fujitsu
(Japan), and M2SYS Technology (U.S.).
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Top Impacting Factors
As experts are working
toward a better understanding of market dynamics, the world shudders in fear of
COVID-19 that surfaced in later 2019; the market is going towards a different
perspective. Amid the crisis, the report focuses on some of the impactful
factors driving the market rapidly. The factors recorded are the rising crime
rate is probable to motivate demand for AFIS technology in the law enforcement
application to detect criminals. The technology is also used to search latent
fingerprints from the crime scene and compare them with a database of existing
fingerprints. The AFIS is an efficient process of classifying, searching, and
matching fingerprints than traditional identification methods. This created a
high expectancy to propel the growth of the market.
MRFR spots light on
the fact that the global ICT expenditure is predicted to achieve a value of
~US$ 5 billion by the year 2027. To maintain the secrecy of information and
ensure the security of officials, more government institutions are adopting
automated fingerprint identification systems. The government and security
agencies grab for the peak revenue in the automated fingerprint identification
systems market, with an approximate valuation of ~US$ 15 billion by the year
2027.
In fact, escalating
criminal and terrorist activities have triggered the demand for automated
fingerprint identification systems. To maintain law enforcement and public
safety, companies in the automated fingerprint identification systems market
are innovating multimodal capture solutions. This trend, coupled with
biometrics, is transforming the landscape of the global automated fingerprint
identification systems market.
Regional Analysis
Regionally,
North-America grabbed the largest market share in support of the technological
advancements, several opportunities in various sectors as well as mounting
usage by the law enforcement agencies. North American region led the Automated
Fingerprint Identification System (AFIS) market in terms of revenue, and this
trend is projected to continue attributed to the early adoption of the
technology and the incidence of major AFIS vendors in the region. North
America's regional market is mainly driven by law enforcement agencies, such as
the Federal Bureau of Prisons, Federal Bureau of Investigation (FBI), and U.S.
Customs and Border Protection (CBP), among other prominent end-users of AFIS
technology for criminal identification.
The Asia Pacific AFIS
market is likely to observe remarkable growth over the assessment period. Such
growth is attributed to a rise in government initiatives to create personal tax
IDs, e-passport, unique identity numbers based on biometric information such as
fingerprint, face, and iris recognition. Moreover, governments are spotting on
the deployment of biometric solutions at airports and for border control to
improve the security level. This, in turn, has anticipated motivating the
demand over the assessment period.
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Segmentation of Market
The automated
fingerprint identification systems market is hugely segmented among types,
components, and end-users.
Depending on the type
segment, the market has included hardware and software.
Depending on the
component segment, the market has included latent searches and ten-print
searches.
Depending on the
end-user segment, the market has included hospitality, education,
transportation, government, healthcare, BFSI, and others.
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