Global Automated Fingerprint Identification System Market Size Forecast 2024 - 2033
23 Dec, 2024
What Is The Overview Of The Global Automated Fingerprint Identification System Market?
An automated fingerprint identification system is a biometric identification system that uses digital technology to capture, store, and analyze fingerprint data. It is used as a fast, accurate, and reliable means of identifying individuals based on unique fingerprint patterns, helping to enhance security, prevent fraud, and streamline identification processes.
Automated Fingerprint Identification System Global Market Report 2024 provides data on the global automated fingerprint identification system market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automated fingerprint identification system market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Automated Fingerprint Identification SystemMarket Expected To Grow In Size And Annual Rates?
The automated fingerprint identification system market has grown rapidly, moving from $11.55 billion in 2023 to $13.97 billion in 2024 at a CAGR of 20.9%. Growth in this period has been fueled by rising crime rates, heightened demand for identity verification, greater emphasis on security, rapid urbanization, and population growth. By 2028, the market is projected to reach $30.02 billion at a CAGR of 21.1%. This growth will be supported by increasing security concerns, expanded adoption in civil applications, greater use in emerging economies, and growing demand in e-commerce and retail. Emerging trends include mobile AFIS solutions, cloud-based implementations, integration with edge computing, blockchain for secure fingerprint data management, and IoT-enabled smart access controls.
What Main Forces Are Fueling Expansion In The Automated Fingerprint Identification System Market?
The growing prevalence of identity theft and fraud is anticipated to drive the automated fingerprint identification system market. Identity theft and fraud involve the illegal use of a person’s personal information, such as their social security number or bank account details, by unauthorized individuals for fraudulent purposes. The rise in these crimes is linked to the widespread use of digital technologies, online platforms, dark web marketplaces, and poor cybersecurity measures. Automated fingerprint identification systems are vital in preventing fraud by providing secure biometric authentication to protect against unauthorized access and criminal activities. According to Experian, the number of consumer identity theft complaints in the US rose by 3.3% in 2022, with over 1.43 million cases reported. As a result, the increasing frequency of identity theft and fraud is propelling the growth of the automated fingerprint identification system market.
Get Your Free Sample of the Global Automated Fingerprint Identification System Market ReportWhat Are The Primary Segments In 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
Which Key Trends Are Driving Changes In The Automated Fingerprint Identification System Market?
In the automated fingerprint identification systems market, major companies are working on developing innovative technologies, such as NADIR, to maintain a competitive position. NADIR is a biometric fingerprint identification system used in various applications, including law enforcement and access control, due to its high accuracy. For example, in April 2023, the National Database and Registration Authority (NADRA) of Pakistan launched NADIR, an advanced automatic fingerprint identification system (AFIS). This technology has transformed civil identification and border control, improving national security and enabling international market offerings for improved civil identification and governance.
What Is The Leading Region In The Automated Fingerprint Identification System Market?
North America was the largest region in the automated fingerprint identification system market in 2023. 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.