Automated Fingerprint Identification Systems Market is Expected to Reach a Valuation of Nearly US$85 Billion by the End of 2032

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North America led the Automated Fingerprint Identification System (AFIS) industry. Due to the early acceptance of the technology and the presence of major manufacturers of automated fingerprint identification systems in the region, this trend is expected to continue during the forecast period.

NEWARK, DE /ACCESSWIRE/October 4, 2022/ The Global Automated Fingerprint Identification System Market has been valued at US$10.3 billion in 2021 and is expected to reach $85 billion by 2032, finds Future Market Insights in recent market research. According to the findings of the report, revenue from the Software segment of the Automated Fingerprint Identification System Market is expected to increase to 20.5% CAGR during the forecast period.

The software’s fingerprint matching algorithm allows it to perform much faster and more accurate searches of fingerprints held in databases for real-time research purposes in organizations such as the FBI, CBI and the AED.

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Traxler says that while the old automated fingerprint identification system was only about 92.0% accurate in fingerprint pattern matching, the latest automated fingerprint identification system has been calibrated for at least 99.0% precision. The sophisticated automated fingerprint identification system is now used in major institutions around the world.

North America will witness continued revenue growth in Automatic Fingerprint Identification System Market throughout the analysis period

In terms of revenue, North America led the Automated Fingerprint Identification System (AFIS) market. This trend is expected to continue throughout the projection period due to the early adoption of the technology and the presence of major manufacturers of automated fingerprint identification systems in the region.

The market is also expected to grow owing to increased usage in the BFSI, retail, and education sectors. The AFIS criminal identification technology market in North America is led by organizations such as the Federal Bureau of Prisons, US Customs and Border Protection (CBP), and the Federal Bureau of Investigation (FBI), among others .

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Automated Fingerprint Identification System Market: Competition Overview

Automated fingerprint identification system manufacturing companies mainly aim for mergers/partnerships and launch new products that cater to different fields. Biometrics4ALL Inc., Suprema, Gemalto NV, Crossmatch (HID Global), DERMALOG Identification Systems GmbH among others are the leading companies operating in the automated fingerprint identification system market.

Some of the recent developments by the key vendors in the Automatic Fingerprint Identification System Market are as follows:

  • In May 2022According to NRK, Norway aims to replace the digital identity authentication platform BankID with new apps that will require users to log in and access online banking services using facial biometrics or fingerprints. fingerprints, as well as passwords or PIN codes in certain situations.

  • In May 2022Fingerprint Cards, a leading biometrics company, has announced a partnership with Transcorp and Mswipe to bring biometric contactless payment cards to India.

  • In March 2022, Suprema has launched a new generation of access control products which has a strong focus on contactless solutions. The star of the Suprema exhibit was BioStation 3, an all-in-one access control solution that offers multiple identification options, from facial recognition and mobile access to QR codes, barcodes and RFID cards. BioStation 3 will be released in the second half.

  • 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 2019FingerID announced the launch of an artificial intelligence-based Automated Fingerprint Identification System (AFIS) that provides accurate results in criminal investigations and fingerprint identification in immigration services.

Likewise, recent developments related to the companies providing services for Automated Fingerprint Identification System market have been tracked by the Future Market Insights team which is available in the full report.

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More information available

Future Market Insights in its new offering presents an unbiased analysis of the Automated Fingerprint Identification System market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.

The study reveals significant growth of the Automated Fingerprint Identification System market in terms of components (hardware, software and service), end use (banking and finance, consumer electronics, defense and security, government, healthcare, transport/logistics, other), in five regions (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa).

Key segments covered in the Automated Fingerprint Identification System market study

Automated Fingerprint Identification System Market by Component:

Automated Fingerprint Identification System Market by End Use:

  • Bank and finance

  • Consumer electronics

  • Defense & Security

  • Government

  • Health care

  • Logistic transport

  • Others

Automated Fingerprint Identification System Market by Region:

  • North America Automated Fingerprint Identification System Market

  • Latin America Automated Fingerprint Identification System Market

  • Europe Automated Fingerprint Identification System Market

  • Asia Pacific Automated Fingerprint Identification System Market

  • Middle East & Africa Automated Fingerprint Identification System Market

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Contents

1. Summary

1.1. Global Market Outlook

1.2. Summary of statistics

1.3. Key Market Features and Attributes

1.4. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Assessment of risks and market trends

3.1. Risk assessment

3.1.1. COVID-19 crisis and impact on demand for automated fingerprint identification systems

3.1.2. Comparative analysis of the impact of COVID-19 with the previous crisis

3.1.3. Impact on market value (US$ millions)

3.1.4. Assessment by key countries

3.1.5. Assessment by key market segments

3.1.6. Action points and recommendation for suppliers

3.2. Key trends impacting the market

3.3. Formulation and product development trends

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