12 May 2021
Visiongain has published a new report on Automated Fingerprint Identification System (AFIS) Market Report to 2031: Forecasts by component (Hardware, Software), by search type (Tenprint to Tenprint Searches, Latent to Latent Searches), by application (Healthcare, Government, Transportation, Banking & Finance, Others). PLUS Profiles of Leading Automated Fingerprint Identification System (AFIS) Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Automated Fingerprint Identification System (AFIS) market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031. Automated Fingerprint Identification System (AFIS) is a biometric identification technique which involves in an effective process of searching, classifying, & matching fingerprints of an individual. In addition, it obtains, stores, & analyses the fingerprint data via digital imaging technology. Moreover, AFIS technology is largely adopted by law administration agencies in order to compare fingerprints and arrest criminals.
Technological advancement from a manual process to a digital process, and increasing online transactions are some of the major factors driving the market growth. Moreover, growing number of crime rate is expected accelerate the demand for AFIS technology as it helps in identifying criminals, which therefore propelling the market growth. On the contrary, growing adoption of biometric systems as a service and increasing demand for access control systems are some of the major factors expected to create an immense opportunities to the market.
COVID-19 Impact on Automated Fingerprint Identification System (AFIS) Market
With becoming large scale implementation in across numerous industries, Automated Fingerprint Identification System (AFIS) market has severely impacted due to COVID-19 outbreak. As government & regulators have declared lockdowns & maintaining physical distancing, implementation & usage of AFIS technology has declined in the market. However, the market is expected to regain its revenue in the upcoming years.
Surge in need of system to maintain network security
Growing consumer data while executing transactions, registration identity across various sectors, and sharing of personal data to the business verticals are becoming major factors propelling the need for maintaining network security. Therefore, due to these vast database and rising transactions are major factors behind adoption of Automated Fingerprint Identification System (AFIS) and is expected to maintain its dominance during forecast period.
Technological evolution & transformation from the manual to the digital identification process
As Automated Fingerprint Identification System (AFIS) provides faster validation of individual’s identify and secures confidential data, several government sectors & private organizations has switched to AFIS technology and has reduced the usage of manual digital identification process. Therefore, due to these multiple benefits & advantages offered by Automated Fingerprint Identification System (AFIS), which therefore driving the market growth.
Growing adoption of biometric systems as a service
As biometrics provides advance solutions with tracking & gathering individual’s information in various industry verticals. Therefore, the adoption of this technology is growing in the respective countries, as government & organization are investing in AFIS technology. This, as a result becoming major opportunistic factors to the key players in the market.
Increasing demand for access control systems
Government & law sectors are expected to demand Automated Fingerprint Identification System (AFIS) in order to manage & control system across business operations. This increasing demand for AFIS are expected to boost the market growth in the upcoming years.
Some of the companies profiled in the report include 3M Cogent Inc., Crossmatch Technologies Ltd., Dermalog Identification Systems GmbH, Fujitsu Ltd., Gemalto NV, HID Global Corporation, M2SYS Technology, Morpho SA, NEC Corporation, and Suprema Incorporation.
In August 2020, Fingerprint Cards AB, which is a one of the leading biometrics company has launched new biometric solution for Personal Computers (PC). In addition, this new product is tailored for use across notebooks, 2-in-1 convertibles, and PC, with having a broad range of Fingerprints’ touch sensors.
In May 2019, NEXT Biometrics which is a global leader in fingerprint sensor technology has entered into a supply agreement with Fujian Newland Payment Technology Co., Ltd, which is market-leading Point-of-Sale (POS) terminal manufacturer in China. This agreement aimed at integration of different types of NEXT Biometrics’ high-quality, large-area fingerprint sensors into a range of Newland`s POS terminals in the market.
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