SAN FRANCISCO, May 9, 2019 /PRNewswire/ -- The global automated fingerprint identification system (AFIS) market size is projected to reach USD 12.46 billion by 2025, according to a new study conducted by Grand View Research, Inc. It is anticipated to expand at a CAGR of 18.4% over the forecast period. Increasing demand for advanced security systems across various business domains is expected to boost the growth. In addition, rising adoption of mobile payment solutions and demand for integrated AFIS solutions are expected to fuel the expansion.
Key suggestions from the report:
- Software segment is anticipated to account for a significant market share over the forecast period owing to the advantages offered by biometric identity and security software
- Government segment is expected to account for a significant market share over the forecast period owing to the increasing use of AFIS technology in e-governance applications and law and enforcement agencies
- North America is expected to continue to lead the market over the forecast period and reach USD 4.05 billion by 2025. Growing adoption of AFIS by law enforcement agencies for criminal identification is anticipated to propel regional market
- Key companies operating in the Automated Fingerprint Identification System (AFIS) market include Gemalto NV; NEC Corporation; Crossmatch; IDEMIA; Dermalog Identification Systems GmbH; SUPREMA; Fujitsu Limited; Sonda Technologies; HID Global Corporation; Papillon Systems; East Shore Technologies, Inc.; and AFIX Technologies.
Read 132 page research report with TOC on "Automated Fingerprint Identification System (AFIS) Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Service), By End Use, By Region, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/automated-fingerprint-identification-system-market
AFIS is increasingly used to cater to the safety and security needs of individuals and organizations, on account of growing number of threats across the globe. A biometric identification system is difficult to circumvent. Systems based on this technology provide a secure identification and verification mechanism to mitigate the level of transaction frauds and security breaches. This factor is expected to drive the demand for automated fingerprint identification systems over the forecast period.
Smart homes are equipped with advanced security systems such as fingerprint access control. Additionally,existing building retrofits are installing biometric security systems to counter thefts and malicious entries. This is further expected to boost the market growth. Furthermore, increasing terrorist activities and theft cases have compelled governments to deploy AFIS solutions in various government agencies, which, in turn, is expected to drive the market in near future.
The rising demand for AFIS technology in enterprises to monitor the attendance of employees is expected to propel the market growth. Developers are focusing on introducing automated fingerprint identification systems that can withstand extreme conditions and can be used suitably across various industries, including manufacturing, IT and telecommunication, construction, and oil and gas, among others.
Grand View Research has segmented the global Automated Fingerprint Identification System (AFIS) market on the basis of component, end use, and region:
- Automated Fingerprint Identification System (AFIS) Component Outlook (Revenue, USD Million; 2014 - 2025)
- Automated Fingerprint Identification System (AFIS) End-use Outlook (Revenue, USD Million; 2014 - 2025)
- Banking & Finance
- Consumer Electronics
- Defense & Security
- Automated Fingerprint Identification System (AFIS) Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- Latin America
Find more research reports on Electronic Security Industry, by Grand View Research:
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- Access Control And Authentication Market – Increasing need for safety and security is expected to drive the global access control and authentication market growth over the forecast period.
- Security Equipment Market – Increasing domestic as well as foreign threats are predicted to be the key factors expected to drive the global security equipment market growth over the forecast period.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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