PUBLISHER: The Business Research Company | PRODUCT CODE: 1484911
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484911
An automated fingerprint identification system (AFIS) is a biometric identification solution employing digital technology to capture, store, and analyze fingerprint data. It serves as a swift, precise, and dependable method for identifying individuals by their distinct fingerprint patterns. AFIS contributes to bolstering security measures, preventing fraudulent activities, and streamlining identification procedures with its efficiency and accuracy.
The primary components of the automated fingerprint identification system (AFIS) market comprise hardware, software, and services. In the context of AFIS, hardware encompasses the physical devices and equipment utilized for capturing, processing, and storing fingerprint data, including scanners, sensors, and servers. Various identification methods within AFIS include latent print identification and ten-print identification, catering to diverse end-users such as banking and finance, consumer electronics, defense and security, government agencies, healthcare institutions, transportation and logistics sectors, along with other end-user segments.
The automated fingerprint identification system market research report is one of a series of new reports from The Business Research Company that provides automated fingerprint identification system market statistics, including the automated fingerprint identification system industry global market size, regional shares, competitors with an automated fingerprint identification system market share, detailed automated fingerprint identification system market segments, market trends and opportunities, and any further data you may need to thrive in the automated fingerprint identification system industry. This automated fingerprint identification system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automated fingerprint identification system market size has grown exponentially in recent years. It will grow from $11.55 billion in 2023 to $13.97 billion in 2024 at a compound annual growth rate (CAGR) of 20.9%. The expansion observed in the historical period can be attributed to several factors, including the rise in crime rates, heightened demand for enhanced identity verification methods, increased emphasis on security measures, rapid urbanization, population growth, and overall economic expansion.
The automated fingerprint identification system market size is expected to see exponential growth in the next few years. It will grow to $30.02 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%. The projected growth in the forecast period can be attributed to several key factors, including escalating security concerns worldwide, the expanding adoption of automated fingerprint identification systems (AFIS) in civil applications, increased uptake in emerging economies, and growing demand within the e-commerce and retail sectors. Major trends expected in the forecast period encompass the emergence of mobile AFIS solutions, the transition towards cloud-based AFIS platforms, integration with edge computing technologies, leveraging blockchain for secure management of fingerprint data, and the integration of AFIS with Internet of Things (IoT) systems for smart access control solutions.
The anticipated surge in identity theft and fraud incidents is poised to drive the growth trajectory of the automated fingerprint identification system (AFIS) market in the foreseeable future. Identity theft and fraud represent criminal activities wherein an individual's personal data, encompassing crucial details such as name, social security number, or financial account information, is illicitly acquired and exploited for fraudulent purposes. The escalation in such illicit activities is attributed to the widespread adoption of digital technologies and online platforms, coupled with the proliferation of dark web marketplaces, lax security protocols, and insufficient cybersecurity measures. Automated fingerprint identification systems play a pivotal role in combating identity theft and fraud by furnishing secure biometric authentication methodologies, thereby fortifying defenses against unauthorized access and fraudulent endeavors. For example, Experian, an Ireland-based information services company, reported a 3.3% rise in consumer identity theft complaints in the U.S., totaling just over 1.43 million in 2022, up from approximately 1.39 million in 2020, underscoring the driving force behind the automated fingerprint identification system market's growth.
Prominent players in the automated fingerprint identification systems market are strategically focused on innovating technologies such as NADIR to bolster their market positioning. NADIR represents an automatic fingerprint identification technology renowned for its widespread application across diverse sectors such as law enforcement, border control, access management, attendance tracking, and financial transactions, owing to the unparalleled accuracy and reliability of fingerprint biometrics for personal identification purposes. For instance, in April 2023, the National Database and Registration Authority (NADRA), a government agency based in Pakistan, unveiled NADIR, an automatic fingerprint identification technology (AFIS). NADRA's introduction of AFIS technology signifies a pioneering milestone in civil identification and nation-building endeavors, showcasing Pakistan's capability to offer cutting-edge solutions in the global market for bolstering civil identification, border security, and e-governance initiatives. Leveraging the distinct characteristics of fingerprints, NADIR establishes a robust and dependable identity verification mechanism, thereby augmenting security protocols across diverse applications ranging from immigration to border control to social welfare services.
In May 2022, Fingerprint Cards AB, a Sweden-based biometrics company, forged a partnership with Mswipe, an India-based digital payment solution provider. This strategic collaboration aims to cater to the burgeoning demand for contactless and digital payment solutions in India, benefiting merchants by offering a seamless and convenient payment ecosystem. By leveraging Fingerprint Cards AB's biometric expertise and Mswipe's robust payment infrastructure, the partnership endeavors to provide merchants with enhanced payment security and streamlined transaction experiences, aligning with India's evolving payment landscape.
Major companies operating in the automated fingerprint identification system market are Facebook, Fujitsu Limited, Safran Group, Thales Group, Gemalto Cogent Inc., NEC Technologies India Private Limited, HID Global Corporation, secunet Security Networks AG, M2SYS Technology, Suprema Incorporation, Crossmatch, Dermalog Identification Systems GmbH, 3M Cogent Inc., Daon, AFIX Technologies Inc., Cognitec Systems GmbH, Papillon Systems, Aware Inc., Biometrics4ALL Inc., BIO-key International Inc., Precise Biometrics AB, East Shore Technologies, Fulcrum Biometrics LLC, Morpho SA, Sonda Technologies Ltd.
North America was the largest region in the automated fingerprint identification system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automated fingerprint identification system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the automated fingerprint identification system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automated fingerprint identification system market consist revenues earned by providing services such as fingerprint enrollment services, matching and identification services, customization and development services, and training and support services. The market value includes the value of related goods sold by the service provider or included within the service offering. The automated fingerprint identification system market also consists of sales of fingerprint scanners, AFIS software, and mobile AFIS devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.