The Global Automated Fingerprint Identification System Market was valued at US$ 10.3 Bn in 2021 and is expected to reach US$ 85 Bn by 2032, finds Future Market Insights in a recent market survey. As per the findings of the report, it is projected that revenue through the Software segment in the Automated Fingerprint Identification System Market will grow at 21% CAGR during the forecast period.
The fingerprint pattern-matching algorithm of software enables it to run significantly faster and more accurate searches of prints held in databases for research purposes in real-time at organizations like the FBI, CBI, and DAE. Traxler asserts that whereas the older Automated Fingerprint Identification System was only about 92.0% accurate in matching fingerprint patterns, the more recent Automated Fingerprint Identification System has been benchmarked for at least 99.0% accuracy. The sophisticated Automated Fingerprint Identification System is now in use at important institutions around the world.
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North America will see continued revenue growth in the Automated Fingerprint Identification System Market throughout the Analysis Period
In terms of revenue, North America dominated the Automated Fingerprint Identification System (AFIS) market. This trend is anticipated to continue throughout the projection period due to the early adoption of the technology and the presence of prominent Automated Fingerprint Identification System manufacturers in the area. The market is also anticipated to expand as a result of increased usage in the BFSI, retail, and educational sectors. The market for AFIS technology for criminal identification in North America is being driven by organizations like the Federal Bureau of Prisons, U.S. Customs and Border Protection (CBP), and the Federal Bureau of Investigation (FBI), among others.
“The manufacturer of AFIS has to keep bringing more reliability and interoperability among different products which will create ample growth opportunities for the market” comments an analyst at Future Market Insights.
Automated Fingerprint Identification System Market: Competition Insights
Automated Fingerprint Identification System manufacturing companies are largely aiming for mergers/partnerships and launching new products that cater to different domains. The key companies operating in the Automated Fingerprint Identification System Market Include Biometrics4ALL Inc., Suprema, Gemalto NV, Crossmatch (HID Global), DERMALOG Identification Systems GmbH, among others.
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Some of the recent developments by key providers of the Automated Fingerprint Identification System Market are as follows:
- In May 2022, According to NRK, Norway aims to replace the digital ID authentication platform BankID with new apps that will require users to log in and access banking services online using face or fingerprint biometrics, as well as passwords or PINs in some situations.
- In May 2022, Fingerprint Cards, a leading biometrics company announced a partnership with Transcorp and Mswipe to bring contactless biometric payment cards to India.
- In March 2022, Suprema launched a new generation of access control products that focuses heavily on contactless solutions. The star of Suprema’s exhibit was BioStation 3, an all-in-one access control solution that provides multiple credential options from facial recognition and mobile access to QR codes, barcodes, and RFID cards. BioStation 3 will be released in the second half of the year.
- In November 2021 – Suprema, announced the successful integration of its biometric access control products with Genetec Security Center, a unified security platform that connects security systems, sensors, and data in a single intuitive interface.
- In November 2019, FingerID announced the launch of an artificial intelligence-enabled automated fingerprint identification system (AFIS) which provides accurate results in investigating criminals and fingerprint identification in immigration services.
Similarly, recent developments related to companies providing services for Automated Fingerprint Identification System Market have been tracked by the team at Future Market Insights, which is available in the full report.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Automated Fingerprint Identification System Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Automated Fingerprint Identification System Market in terms of Component (Hardware, Software, and Service), End-use (Banking & Finance, Consumer Electronics, Defence & Security, Government, Healthcare, Transport/Logistics, Others), across five regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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