The automated fingerprint identification system (AFIS) market report stands as an exhaustive study delving into diverse market segments and regions, unraveling emerging trends alongside significant drivers, challenges, and opportunities within the market landscape. Holding profound significance, this report meticulously defines markets, classifies them, identifies applications, and engages stakeholders. Every parameter within this report is explored to analyze market status, shares, growth rates, future trends, drivers, opportunities, challenges, risks, entry barriers, sales channels, and distributor dynamics.
Within the competitive landscape detailed in this automated fingerprint identification system (AFIS) market report lies strategic profiling of key players in the automated fingerprint identification system (AFIS) market industry, offering a comprehensive analysis of their core competencies and strategies. The information and data furnished by this report prove instrumental for market domination or establishing a new presence within the market sphere. Armed with actionable market insights, clients can craft sustainable and lucrative business strategies.
Additionally, the automated fingerprint identification system (AFIS) market report delves into vital industry trends, estimating market sizes, sales volumes, and market shares, providing an in-depth analysis and discussion. By assisting in gauging brand awareness, market landscapes, potential future challenges, industry trends, and customer behavior, this report becomes instrumental in refining and optimizing business strategies.
Data Bridge Market Research analyses that the automated fingerprint identification system (AFIS) market was valued at USD 10.16 billion in 2021 and is expected to reach USD 45.59 billion by 2029, registering a CAGR of 20.64% during the forecast period of 2022 to 2029.
Definition
Automated Fingerprint Identification System (AFIS) is a biometric identification system which uses digital imaging technology to match and evaluate fingerprints from a database. The automatic fingerprint identification system software also allows real-time database uploading, acquisition, and storage.
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Key Growth Drivers:
Payment Security Concerns
Growing offline and online payment security concerns globally is the vital factor which is expected to drive the growth of the automated fingerprint identification systems. Some of the prominent areas of AFIS application such as ID registries, e-passports, general identification and fraud prevention, biometric visas, digitized driver licenses, and electronic voter registration and election management.
Highly used in banking and financial sector
Increasing investments in banking and finance sectors and rising demand for secure financial transactions are those factor which are expected to drive the growth of the ASFI market. There is a growing acceptance of automated fingerprint identification system technology in banking sector to maintain the security and privacy and make simple protected financial transactions.
Government initiatives
Rising competition in the market has increased the need for securing confidential information and data of an organization for sustaining their position in the market. Several initiatives which has taken by the governments to offer unique identity cards for every citizen is anticipated to drive the growth of the market. For instance, the aadhar cards initiative for individual persons has undertaken by the Indian government consists of biometric data collection.
The report emphasizes the participation of key entities, notably:
- Safran (France)
- NEC Technologies India Private Limited (India)
- FUJITSU (Japan)
- Aware, Inc. (U.S.)
- Gemalto Cogent, Inc. (U.S.)
- BIO-key International, Inc. (U.S.)
- Precise Biometrics AB (Sweden)
- secunet Security Networks AG. (Germany)
- Thales Group (France)
- Cognitec Systems GmbH (Germany)
- (U.S.)
- Fulcrum Biometrics, LLC. (U.S.)
- Daon (Ireland)
- Facebanx (U.S.)
- HID Global Corporation/ASSA ABLOY AB. (U.S.)
- (South Korea)
- IRITECH, INC. (U.S.)
- M2SYS Technology (U.S.)
Report Objective:
- Investigate the automated fingerprint identification system (AFIS) market, focusing on strategic movements like collaborations, agreements, mergers, and product launches.
- Explore market diversification avenues such as new products, unexplored regions, recent advancements, and investments in automated fingerprint identification system (AFIS) market.
- Streamline initial research efforts by identifying automated fingerprint identification system (AFIS) market growth, size, key players, and segments, saving valuable time.
- Highlight pivotal industry trends in the automated fingerprint identification system (AFIS) market to empower players in devising effective, sustainable strategies.
- Analyze micro markets for their individual growth trajectories, potential, and contributions to the overall market.
- Shape or refine business expansion strategies leveraging growth opportunities in both established and emerging markets.
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Key Market Segmentation
Component (Hardware, Software), Search Type (Tenprint to Tenprint Search, Latent Print to Latent Print Search, Others), Application (Banking and Finance, Government, Hospitality, Healthcare, Transportation, Others), Product (Multi Modal Automated Fingerprint Identification Systems (AFIS), Single Modal Automated Fingerprint Identification Systems (AFIS))
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