Press release
Automated Fingerprint Identification Systems Market Research Report, By Application, Region and Forecast to 2027
Increasing criminal and terrorist activities have triggered the demand for automated fingerprint identification systems. To support law enforcement and public safety, companies in the automated fingerprint identification systems market are innovating multimodal capture solutions. This trend is coupled with biometrics, which is transforming the landscape of the global automated fingerprint identification systems market.View Our Report @ https://www.transparencymarketresearch.com/automated-fingerprint-identification-system-market.html
Global ICT spending is estimated to reach a value of ~US$ 5 billion by the end of 2027. To maintain the confidentiality of information and ensure the security of officials, more and more government institutions are adopting automated fingerprint identification systems. As such, government and security agencies account for the highest revenue in the automated fingerprint identification systems market, with an estimated value of ~US$ 15 billion by the end of 2027.
Manufacturers in the market are catering to the needs of government officials by offering them advanced biometric identification systems that are integrated with live face recognition. End users are benefitting from this feature, as the new technology offers face identification in real-time as well as post-event instances to support public security.
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AI and IoT Transforming Software Innovation in Connected Retail Services Sector
Companies in the automated fingerprint identification systems market space are innovating in software integrated with AI and IoT. As such, software accounts for the highest revenue in the automated fingerprint identification systems market, with a predicted value of ~US$ 21.2 billion by 2027. This is why, companies are integrating identification systems with advanced software using AI and IoT.
Behavioral biometrics is another driver that is triggering the growth of AI in software. This enables faster identification of an individual's behavior for end-users. Companies in the automated fingerprint identification systems landscape are increasing production capabilities to manufacture new facial recognition biometric systems that digitally sample and authenticate data. They are tapping into niche opportunities, such as the development of advanced iris authentication systems for IoT.
Vendors in the automated fingerprint identification systems market are creating a scope for incremental opportunities in the connected retail services sector, by integrating smart software identification systems in ATMs and kiosks, thus eliminating the need for cards or PINs. This trend is increasingly benefitting end users, as the software aligns with phone banking apps, thus ensuring safe user identification.
Companies in the automated fingerprint identification systems market are eyeing growth opportunities in Asia Pacific. For instance, NEC Technologies India - a leader in the integration of IT and network technologies, announced teaming up with C-DAC- an autonomous scientific society of the ministry of electronics and information technology of India. This strategic collaboration was made to deploy automated fingerprint identification systems for the Kerala police. Due to recent events of criminal acts in India, there is growing demand for automated fingerprint identification systems in the region to match unknown fingerprints with the central database.Companies are increasing research efforts to develop first-of-its-kind child fingerprint identification systems to support immunization in developing countries. This is being achieved with the techniques of biometrics to improve the immunization coverage of individuals in developing countries.
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Accountability and Transparency of Surveillance Systems Overcomes Breach of Sensitive Data
The automated fingerprint identification systems market is highly fragmented, with five major players accounting for only ~16% of the total market share. This makes it easier for emerging players to enter the market. However, certain challenges are likely to impede market growth. Automated fingerprint identification systems are known to compromise the private information of individuals.
North America dominates the revenue in the global automated fingerprint identification systems market, and is estimated to account for the highest share of ~32% in global ICT spending by the end of this year (2019). Moreover, U.S. citizens are increasingly aware about their rights regarding privacy and the rational use of surveillance systems. Thus, facial recognition technology poses a limitation regarding public safety, as body cameras can turn into 24-hour surveillance tools, thus compromising the privacy of individuals. Hence, vendors in the automated fingerprint identification systems market are increasing the availability of facial recognition systems for police verification.
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