Steady Expansion Forecast for Automated Fingerprint Identification System Market, Projected to Reach $34.26 Billion by 2029

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What Will the Automated Fingerprint Identification System Industry Market Size Be by 2025?
The market size for automated fingerprint identification systems has witnessed massive expansion in the past years. The market, valued at $13.97 billion in 2024, is forecasted to escalate to $16.87 billion in 2025, marking a compound annual growth rate (CAGR) of 20.7%. The historical expansion can be credited to an increase in criminal activities, need for better identity verification measures, greater focus on security, swift population growth coupled with urbanisation, and economic development.

What's the Long-Term Growth Forecast for the Automated Fingerprint Identification System Market Size Through 2029?
The market for automated fingerprint identification systems is projected to undergo swift expansion in the coming years, reaching $34.26 billion by 2029 with a compound annual growth rate (CAGR) of 19.4%. The projected growth during the forecast period can be credited to increased security requirements, greater use in civil applications, broader acceptance in developing economies, and burgeoning demand in e-commerce and retail sectors. Noteworthy trends to watch for in this period include mobile AFIS solutions, cloud-based AFIS, edge computing integration, blockchain technology for secure fingerprint data handling, and IoT integration for intelligent access control.

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What Are the Key Growth Drivers Fueling the Automated Fingerprint Identification System Market Expansion?
The escalating instances of identity theft and fraud are anticipated to boost the expansion of the automated fingerprint identification system market. In cases of identity theft and fraud, a person's private information like their name, financial information, or social security number is illicitly harvested and exploited by another individual for fraudulent activities. The surge in theft and fraud can be attributed to the broad adoption of digital technologies, rampant use of online platforms, the growth of dark web marketplaces, insufficient security practices, and inadequate cybersecurity solutions. Automated fingerprint identification systems play an integral role in curbing identity theft and fraud through reliable biometric authentication techniques and protection against unauthorized access and deceitful actions. For example, The Identity Theft Resource Center (ITRC), a non-profit organization based in the United States dealing with identity theft, revealed that in June 2024, the attempted misuse affected 1% of the total identity crime victims in 2023. This signified an 11% increase in the reports of attempted misuse compared to the preceding year. The organization observed annual increases in attempted misuse across different account types: an 8% increase in checking accounts, a 30% hike in credit card accounts, a 50% jump in mortgage loans, and an 11% rise in personal loans. Hence, the escalating phenomenon of identity theft and fraud propels the expansion of the automated fingerprint identification system market.

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What Are the Key Trends Driving Automated Fingerprint Identification System Market Growth?
Leading businesses in the automated fingerprint identification systems market are concentrating on the creation of novel technologies like NADIR as a strategy to maintain market dominance. NADIR, a unique automated fingerprint identification technology, is prevalent across numerous sectors such as law enforcement, border control, access control, attendance tracking, and financial transactions due to the reliability and precision of fingerprint biometrics in verifying personal identity. In April 2023, the National Database and Registration Authority (NADRA), a government entity based in Pakistan, rolled out NADIR, an automatic fingerprint identification technology (AFIS). This AFIS technology development by NADRA represents a significant leap in civil identification and nation-building, highlighting Pakistan's capacity to cater to the international market by enhancing civil identification, border control, and e-governance. By exploiting the unique attributes of fingerprints, it establishes a solid and dependable identity checking method, boosting security protocols across a range of applications, from immigration and border control to social services.

How Is the Automated Fingerprint Identification System Market Segmented?
The automated fingerprint identification systemmarket 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 Companies Are Leading the Charge in Automated Fingerprint Identification System Market Innovation?
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.

Which Regions Are Leading the Global Automated Fingerprint Identification System Market in Revenue?
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.

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