What Has Been the Growth of the Automated Fingerprint Identification System Market So Far?
The automated fingerprint identification system market has seen considerable growth due to a variety of factors.
• There has been a notable expansion in the market size of the automated fingerprint identification system in the past few years. The market is projected to increase from $13.97 billion in 2024 to $16.94 billion in 2025, representing a compound annual growth rate (CAGR) of 21.2%.
Factors contributing to this historic period growth include an upsurge in crime rates, heightened demand for sophisticated identity proofing, broader emphasis on security, swift urban and population growth, as well as economic development.
How Will the Automated Fingerprint Identification System Market?
The automated fingerprint identification system market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for massive expansion in the automated fingerprint identification system market over the next several years. The market is projected to reach $36.31 billion by 2029, thanks to a 21.0% compound annual growth rate (CAGR). Factors contributing to growth for this period include surging security needs, wider usage in civil operations, wider acceptance in up-and-coming economies, and heightened demand in the realms of e-commerce and retail. During this forecast period, leading trends will encompass mobile AFIS solutions, cloud-based AFIS, amalgamation with edge computing, utilization of blockchain for safe fingerprint data management, and IoT incorporation for smart access control.
Which Factors Are Boosting Growth In The Automated Fingerprint Identification System Market?
The surging rate of identity theft and fraud is predicted to fuel the expansion of the automated fingerprint identification system market. Identity theft and fraud are criminal activities involving illegal acquisition and use of an individual's personal data, including name, social security number or financial account details. The growth in these crimes is attributed to the extensive uptake of digital technologies, the rise of dark web retailers, subpar security protocols, and insufficient cybersecurity initiatives. Automated fingerprint identification systems play an essential role in battling identity theft and fraud by providing secure biometric verification and protection against unauthorized access and fraudulent operations. For example, The Identity Theft Resource Center (ITRC), a US non-profit committed to combating identity theft, reported in June 2024 that attempted misuse affected 1% of all identity crime victims in 2023, marking an 11% surge in reports of attempted misuse compared to the year before. The body recorded year-on-year increases in attempted misuse across different account types with checking accounts seeing an 8% hike, credit card accounts going up by 30%, mortgage loans shooting up by 50%, and personal loans experiencing an 11% growth. Consequently, the escalating trend of identity theft and fraud stimulates the advancement of the automated fingerprint identification system market.
What Key Areas Define The Segmentation Of The Global 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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What Emerging Trends Are Influencing The Growth Of The Automated Fingerprint Identification System Market?
Leading firms in the automated fingerprint identification systems market are honing in on the creation of innovative technologies, such as NADIR, to secure their industry status. As an automatic fingerprint identification technology, NADIR is frequently applied in a variety of areas like law enforcement, border management, access supervision, attendance monitoring, and financial dealings thanks to the superior precision and dependability of fingerprint biometrics for personal identities. For example, in April 2023, the NADIR was unveiled by the National Database and Registration Authority (NADRA), a government agency from Pakistan, a pioneering accomplishment in civil identification and nation development, fundamentally showcasing Pakistan's ability to present its product globally to enhance civil identification, border control and e-governance. Leveraging the unique fingerprint attributes, it establishes a solid and trustworthy method for identity confirmation, bolstering security protocols for a range of uses, from immigration and border control to social services.
Who Are the Key Players In The Automated Fingerprint Identification System Market?
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.
What Is The Most Dominant Region In 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.
