PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279891
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279891
Global Automated Fingerprint Identification System (AFIS) Market is valued approximately USD 12.46 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 21.00% over the forecast period 2023-2030. The Global Automated Fingerprint Identification System (AFIS) Market refers to the market for biometric identification systems that use fingerprints to authenticate individuals. It includes hardware and software components such as scanners, databases, and matching algorithms that enable the capture, storage, and comparison of fingerprints for identification and verification purposes. The AFIS technology finds its application in various sectors such as law enforcement agencies, government agencies, and private organizations for security, identification, and authentication purposes. The major driving factors for the Global Automated Fingerprint Identification System (AFIS) Market are increasing need for security and law enforcement and rising adoption of biometric authentication. Moreover, government initiatives and technological advancement is creating lucrative growth opportunity for the market over the forecast period 2023-2030.
The growing adoption of biometric authentication in various applications, including banking, e-commerce, and healthcare, is driving the demand for AFIS systems. For instance, in 2021, the government of India announced plans to implement a national digital health ID that would rely on biometric authentication to verify the identity of patients and healthcare providers. Similarly, in 2020, Amazon launched palm recognition technology for its Amazon Go stores, allowing customers to make purchases using their palm prints. Along with this, in 2022, Mastercard announced that it will be piloting a new payment card with an embedded fingerprint sensor in South Africa, providing a more secure and convenient way to authenticate transactions. However, the high cost of Automated Fingerprint Identification System (AFIS) stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Automated Fingerprint Identification System (AFIS) Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to hold a significant share of the AFIS market due to the presence of key players and the early adoption of advanced technologies. The increasing use of fingerprint identification systems in various applications, such as law enforcement, civil identification, and border control, is expected to drive the market growth in this region. The Asia-Pacific region is expected to witness the fastest growth during the forecast period due to the increasing adoption of biometric solutions in various applications, including banking, healthcare, and government. Rapid urbanization, increasing disposable income, and the growing need for advanced security systems are also expected to contribute to market growth in this region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable