LOS ANGELES, BEIJING and PUNE, India, October 16, 2018 /PRNewswire/ --
According to QY Research's newly published report titled, "Global Automated Fingerprint Identification Systems (AFIS) Market Insights, Forecast to 2025," the global automated fingerprint identification Systems (AFIS) market was valued US$ 240 Mn in 2017 and is expected to reach US$ 510 Mn by 2025 end, expanding at a robust CAGR of 9.5% during the forecasted year, i.e. between 2018 and 2025.
AFIS market is expected to grow tremendously in the forecasted period due to growing awareness among people about security and the expansion of commercial spending and high rate of unsolved criminal cases due to lack of evidence.
Global Automated Fingerprint Identification Systems Market: Top Players
A lot of opportunities are brought by the sales of various products of automated fingerprint identification systems. The deep study about this market reveals that new entrants which have capital but lack in having downstream support, less technical and raw materials advantage should not enter hurriedly into the automated fingerprint identification systems market.
Firstly, as for the global Automated Fingerprint Identification Systems (AFIS) industry, the top three manufacturers have 7.74% revenue market share in 2015. The Japanese giant NEC, which has 62.01% market share in 2015, is the leader in the Automated Fingerprint Identification Systems (AFIS) industry. The manufacturers following are Morpho, 3M Cogent and Suprema, which respectively has 5.55%, 3.19% and 2.73% market share globally. The PU HIGH-TECH is the leader of China Automated Fingerprint Identification Systems (AFIS) industry.
Some of the top players operating in the market are: PU HIGH-TECH, NEC, East Shore, Papillon Systems, Morpho, Afix Technologies, 3M Cogent, M2sys, Suprema, Crossmatch, Dermalog, Fujitsu and HID Global.
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Increasing number of criminal activities to boost the growth of automated fingerprint identification system market in Asia Pacific region
Based on regions, the global automated fingerprint identification system market is segmented into South America, North America, Middle East, and Africa, Asia Pacific and Europe. North America is expected to grab major revenue share of the automated fingerprint identification system market throughout the forecasted period.
These systems are mostly used by healthcare centers, law enforcement agencies, government offices, and some other commercial offices in the region. On the other hand, Asia Pacific automated fingerprint identification systems market is likely to grow rapidly due to the growing number of criminal activities and the rising ratio of government activities.
Global Automated Fingerprint Identification Systems (AFSI) Market- Segmental Analysis
By product type, this market is segmented into multimodal AFIS and single modal AFIS, while on the basis of end users, the global market for automated fingerprint identification system is segmented into civil and criminal.
Growing cyber threats is expected to boost the demand of automated fingerprint identification system across the globe
With an increasing use of the internet, the demand for the online transaction has also increased in past few years. To meet this demand, the use of an automated fingerprint identification system has grown rapidly in last one decade. Apart from this, mobile payment and automated fingerprint identification system solution is likely to fuel the growth of the market throughout the projected period.
Additionally, due to increasing cyber threats at the international and national level, the demand for automated fingerprint identification system has been growing since last few years which is anticipated to create a positive impact on the global automated fingerprint identification systems market.
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