Press release
Automated Fingerprint Identification System Market Set to Reach 36.31 Billion by 2029 with 21% Yearly Growth
Automated Fingerprint Identification System Market
The automated fingerprint identification system market has expanded exponentially in recent years. It is anticipated to grow from $13.97 billion in 2024 to $16.94 billion in 2025, at a CAGR of 21.2%. The past growth was driven by increasing crime rates, the need for enhanced identity verification, heightened security concerns, rapid urbanization and population growth, and overall economic expansion.
The automated fingerprint identification system market is forecasted to experience rapid growth, reaching $36.31 billion by 2029 at a CAGR of 21.0%. Key drivers include growing security concerns, the increased adoption in civil applications, expanding markets in emerging economies, and the rise in demand for e-commerce and retail security. Trends include mobile AFIS solutions, cloud-based AFIS, edge computing integration, blockchain for secure data management, and IoT-based access control.
What Are the Forces Behind the Rapid Growth of the Automated Fingerprint Identification System Market?
The increasing incidence of identity theft and fraud is expected to propel the growth of the automated fingerprint identification system market. As identity theft and fraud become more prevalent, driven by increased online activities and weak security practices, the need for advanced biometric authentication methods is rising. Automated fingerprint identification systems help prevent unauthorized access and protect against fraudulent activities. In June 2024, the Identity Theft Resource Center reported an 11% increase in identity crime cases in 2023, with significant rises in check fraud and credit card fraud, highlighting the growing demand for fingerprint identification systems.
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Who Are the Dominant Companies Influencing Automated Fingerprint Identification System Market Trends?
Major companies operating in the automated fingerprint identification system market are Facebook, Fujitsu Limited, Safran Group, Thales Group, Gemalto Cogent Inc., NEC Technologies India Private Limited, HID Global Corporation, Secunet Security Networks AG, M2SYS Technology, Suprema Incorporation, Crossmatch, Dermalog Identification Systems GmbH, 3M Cogent Inc., Daon, AFIX Technologies Inc., Cognitec Systems GmbH, Papillon Systems, Aware Inc., Biometrics4ALL Inc., BIO-key International Inc., Precise Biometrics AB, East Shore Technologies, Fulcrum Biometrics LLC, Morpho SA, Sonda Technologies Ltd.
How Is the Automated Fingerprint Identification System Market Evolving?
Companies in the automated fingerprint identification systems market are advancing with technologies like NADIR to maintain their market position. For example, in April 2023, the National Database and Registration Authority (NADRA), a Pakistan-based government agency, launched NADIR, a fingerprint identification technology for civil identification, border control, and e-governance applications, enhancing security and reliability.
What Are the Different Segmentations in the Automated Fingerprint Identification System Market?
The automated fingerprint identification system market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Identification: Latent Print Identification, Tenprint Identification
3) By End Use: Banking And Finance, Consumer Electronics, Defense And Security, Government, Healthcare, Transport Or Logistics, Other End Uses
Subsegments:
1) By Hardware: Fingerprint Scanners, Sensors, Other Hardware Devices
2) By Software: Fingerprint Matching Software, Enrollment Software, Image Processing Software
3) By Services: Integration Services, Maintenance And Support Services, Consulting Services
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Which Region Is at the Forefront of the Automated Fingerprint Identification System Market?
North America was the largest region in the automated fingerprint identification system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automated fingerprint identification system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Automated Fingerprint Identification System Global Market Report?
- Market Size Analysis: Analyze the Automated Fingerprint Identification System Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automated Fingerprint Identification System Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automated Fingerprint Identification System Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automated Fingerprint Identification System Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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