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Automated Fingerprint Identification Systems Market Is Expected To Reach US$ 17.34 Bn by 2027

The latest market report published by Acute Market Reports, Inc., “Automated Fingerprint Identification Systems Market – Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the global automated fingerprint identification systems market is expected to reach US$ 17.34 Bn by 2027, expanding at a CAGR of 16.5% during the forecast from 2019 to 2027.

Market Insights

“Increasing adoption of technology and digital solutions in security systems will spur revenue growth during the forecast period”

The advanced use of automated fingerprint identification systems (AFIS) technology, in high-level security in private, public, and commercial sectors, resulting in the expansion of the market over the forecast period. Improvement in digital imaging technology, adoption of mobile payment solutions, and growing concern towards secure payment gateway expected to further drive the market. For instance, in April 2015, Standard Bank introduced fingerprint authentication technology for mobile banking applications for customers who use tablets and mobile devices enabled with fingerprint access control.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/automated-fingerprint-identification-systems-market

In addition, demand for integrated solutions, rising security threats, and technological growth in the military and defense sector expected to boost market growth. Moreover, deployment of autonomic platform to dynamically manage end-to-end activities in the corporate sector, rising demand for modernize infrastructures and increasing terrorist & criminal activities is projected to boost up the market for automated fingerprint identification system over the forecast period.

Industrial Developments

• In Sept 2019, Seven Bank, Ltd., and NEC Corporation have announced for the development of a next-generation ATM, having a facial recognition system. Moreover, the implementation of IoT, AI, biometrics, and other technologies in these ATMs will enhance face recognition for identity verification with QR codes.

• In July 2019, NEC announced to provide a customs procedure system with face recognition for six major airports in Japan.

Key Market Movements:

• Globally, the automated fingerprint identification systems are growing at a CAGR of 15.8% for the period from 2019 to 2027.

• North America dominates the global automated fingerprint identification systems market and projected to hold the market share of around 32% in global ICT spending by 2019. This trend estimated to continue over the forecast period attributed to the early adoption of the technology and the presence of major AFIS vendors in the region. Furthermore, growing adoption by retail, education sectors and BFSI expected to drive market growth.

• North America market primarily is driven by law enforcement agencies, such as the U.S. Customs and Border Protection (CBP), Federal Bureau of Investigation (FBI), Federal Bureau of Prisons, and other noticeable end-users of AFIS technology, thereby increasing the demand for the market growth.

List of Companies Covered:

• Afix Technologies Inc.

• Cross Match Technologies Inc

• DERMALOG Identification Systems GmbH

• Gemalto NV

• Fujitsu Limited

• HID Global Corporation

• IDEMIA

• NEC Corporation

• Papillon Systems

• Sonda Technologies

• SUPREMA

[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Component Type

• Hardware

• Software

• Service

By Application Type

• BFSI

• Healthcare

• Government Organization

• Transportation

• Others (Industrial, Hospitality, Defense & Security)

By Geography Segment