Automated Fingerprint Identification System Market Is Anticipated to Reach Highest CAGR by the End of 2025
The global automated fingerprint identification system (AFIS) market size is projected to reach USD 12.46 billion by 2025, according to a new study conducted by Grand View Research, Inc. It is anticipated to expand at a CAGR of 18.4% over the forecast period. Increasing demand for advanced security systems across various business domains is expected to boost the growth. In addition, rising adoption of mobile payment solutions and demand for integrated AFIS solutions are expected to fuel the expansion.
AFIS is increasingly used to cater to the safety and security needs of individuals and organizations, on account of growing number of threats across the globe. A biometric identification system is difficult to circumvent. Systems based on this technology provide a secure identification and verification mechanism to mitigate the level of transaction frauds and security breaches. This factor is expected to drive the demand for automated fingerprint identification systems over the forecast period.
Smart homes are equipped with advanced security systems such as fingerprint access control. Additionally, existing building retrofits are installing biometric security systems to counter thefts and malicious entries. This is further expected to boost the market growth. Furthermore, increasing terrorist activities and theft cases have compelled governments to deploy AFIS solutions in various government agencies, which, in turn, is expected to drive the market in near future.
Access Research Report of Automated Fingerprint Identification System Market
Further key findings from the study suggest:
- Software segment is anticipated to account for a significant market share over the forecast period owing to the advantages offered by biometric identity and security software
- Government segment is expected to account for a significant market share over the forecast period owing to the increasing use of AFIS technology in e-governance applications and law and enforcement agencies
- North America is expected to continue to lead the market over the forecast period and reach USD 4.05 billion by 2025. Growing adoption of AFIS by law enforcement agencies for criminal identification is anticipated to propel regional market
- Key companies operating in the Automated Fingerprint Identification System (AFIS) market include Gemalto NV; NEC Corporation; Crossmatch; IDEMIA; Dermalog Identification Systems GmbH; SUPREMA; Fujitsu Limited; Sonda Technologies; HID Global Corporation; Papillon Systems; East Shore Technologies, Inc.; and AFIX Technologies.
Grand View Research has segmented the global Automated Fingerprint Identification System (AFIS) market on the basis of component, end use, and region:
Automated Fingerprint Identification System (AFIS) Component Outlook (Revenue, USD Million; 2014 – 2025)
Automated Fingerprint Identification System (AFIS) End-use Outlook (Revenue, USD Million; 2014 – 2025)
- Banking & Finance
- Consumer Electronics
- Defense & Security
Automated Fingerprint Identification System (AFIS) Regional Outlook (Revenue, USD Million; 2014 – 2025)
- North America
- Asia Pacific
- Latin America
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