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Global Automated Fingerprint Identification System (AFIS) Market to reach USD 57.25 billion by the end of 2030

Global Automated Fingerprint Identification System (AFIS) Market Size study & Forecast, by Component (Hardware, Software, Services) by End-use (Banking & Finance, Consumer Electronics, Defence & Security, Government, Healthcare, Transport/Logistics, Others) and Regional Analysis, 2023-2030

Product Code: EESC-22087384
Publish Date: 20-05-2023
Page: 200

Global Automated Fingerprint Identification System (AFIS) Market is valued approximately USD 12.46 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 21.00% over the forecast period 2023-2030. The Global Automated Fingerprint Identification System (AFIS) Market refers to the market for biometric identification systems that use fingerprints to authenticate individuals. It includes hardware and software components such as scanners, databases, and matching algorithms that enable the capture, storage, and comparison of fingerprints for identification and verification purposes. The AFIS technology finds its application in various sectors such as law enforcement agencies, government agencies, and private organizations for security, identification, and authentication purposes. The major driving factors for the Global Automated Fingerprint Identification System (AFIS) Market are increasing need for security and law enforcement and rising adoption of biometric authentication. Moreover, government initiatives and technological advancement is creating lucrative growth opportunity for the market over the forecast period 2023-2030.

The growing adoption of biometric authentication in various applications, including banking, e-commerce, and healthcare, is driving the demand for AFIS systems. For instance, in 2021, the government of India announced plans to implement a national digital health ID that would rely on biometric authentication to verify the identity of patients and healthcare providers. Similarly, in 2020, Amazon launched palm recognition technology for its Amazon Go stores, allowing customers to make purchases using their palm prints. Along with this, in 2022, Mastercard announced that it will be piloting a new payment card with an embedded fingerprint sensor in South Africa, providing a more secure and convenient way to authenticate transactions. However, the high cost of Automated Fingerprint Identification System (AFIS) stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Automated Fingerprint Identification System (AFIS) Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to hold a significant share of the AFIS market due to the presence of key players and the early adoption of advanced technologies. The increasing use of fingerprint identification systems in various applications, such as law enforcement, civil identification, and border control, is expected to drive the market growth in this region. The Asia-Pacific region is expected to witness the fastest growth during the forecast period due to the increasing adoption of biometric solutions in various applications, including banking, healthcare, and government. Rapid urbanization, increasing disposable income, and the growing need for advanced security systems are also expected to contribute to market growth in this region.

Major market player included in this report are:
Biometrics4ALL Inc.
Suprema
Gemalto NV
Crossmatch (HID Global)
DERMALOG Identification Systems GmbH
M2SYS Technology
Morpho SA
3M Cogent
Safran Identity and Security
NEC Corporation

Recent Developments in the Market:
Ø In May 2022, Norway announced plans to replace its digital ID authentication platform BankID with new apps that will require users to authenticate and access banking services online using face or fingerprint biometrics, as well as passwords or PINs in some situations, according to NRK.
Ø In May 2022, Fingerprint Cards, a prominent biometrics company, partnered with Transcorp and Mswipe to introduce contactless biometric payment cards in India.

Global Automated Fingerprint Identification System (AFIS) Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Component, End-use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
Hardware
Software
Services
By End-use:
Banking & Finance
Consumer Electronics
Defence & Security
Government
Healthcare
Transport/Logistics
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Automated Fingerprint Identification System (AFIS) Market, by Region, 2020-2030 (USD Billion)
1.2.2. Automated Fingerprint Identification System (AFIS) Market, by Component, 2020-2030 (USD Billion)
1.2.3. Automated Fingerprint Identification System (AFIS) Market, by End-use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Automated Fingerprint Identification System (AFIS) Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Automated Fingerprint Identification System (AFIS) Market Dynamics
3.1. Automated Fingerprint Identification System (AFIS) Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increasing need for security and law enforcement
3.1.1.2. Rising adoption of biometric authentication
3.1.2. Market Challenges
3.1.2.1. High Cost of Automated Fingerprint Identification System (AFIS)
3.1.3. Market Opportunities
3.1.3.1. Government initiatives
3.1.3.2. Technological advancements
Chapter 4. Global Automated Fingerprint Identification System (AFIS) Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Automated Fingerprint Identification System (AFIS) Market, by Component
5.1. Market Snapshot
5.2. Global Automated Fingerprint Identification System (AFIS) Market by Component, Performance – Potential Analysis
5.3. Global Automated Fingerprint Identification System (AFIS) Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Automated Fingerprint Identification System (AFIS) Market, Sub Segment Analysis
5.4.1. Hardware
5.4.2. Software
5.4.3. Services
Chapter 6. Global Automated Fingerprint Identification System (AFIS) Market, by End-use
6.1. Market Snapshot
6.2. Global Automated Fingerprint Identification System (AFIS) Market by End-use, Performance – Potential Analysis
6.3. Global Automated Fingerprint Identification System (AFIS) Market Estimates & Forecasts by End-use 2020-2030 (USD Billion)
6.4. Automated Fingerprint Identification System (AFIS) Market, Sub Segment Analysis
6.4.1. Banking & Finance
6.4.2. Consumer Electronics
6.4.3. Defence & Security
6.4.4. Government
6.4.5. Healthcare
6.4.6. Transport/Logistics
6.4.7. Others
Chapter 7. Global Automated Fingerprint Identification System (AFIS) Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Automated Fingerprint Identification System (AFIS) Market, Regional Market Snapshot
7.4. North America Automated Fingerprint Identification System (AFIS) Market
7.4.1. U.S. Automated Fingerprint Identification System (AFIS) Market
7.4.1.1. Component breakdown estimates & forecasts, 2020-2030
7.4.1.2. End-use breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Automated Fingerprint Identification System (AFIS) Market
7.5. Europe Automated Fingerprint Identification System (AFIS) Market Snapshot
7.5.1. U.K. Automated Fingerprint Identification System (AFIS) Market
7.5.2. Germany Automated Fingerprint Identification System (AFIS) Market
7.5.3. France Automated Fingerprint Identification System (AFIS) Market
7.5.4. Spain Automated Fingerprint Identification System (AFIS) Market
7.5.5. Italy Automated Fingerprint Identification System (AFIS) Market
7.5.6. Rest of Europe Automated Fingerprint Identification System (AFIS) Market
7.6. Asia-Pacific Automated Fingerprint Identification System (AFIS) Market Snapshot
7.6.1. China Automated Fingerprint Identification System (AFIS) Market
7.6.2. India Automated Fingerprint Identification System (AFIS) Market
7.6.3. Japan Automated Fingerprint Identification System (AFIS) Market
7.6.4. Australia Automated Fingerprint Identification System (AFIS) Market
7.6.5. South Korea Automated Fingerprint Identification System (AFIS) Market
7.6.6. Rest of Asia Pacific Automated Fingerprint Identification System (AFIS) Market
7.7. Latin America Automated Fingerprint Identification System (AFIS) Market Snapshot
7.7.1. Brazil Automated Fingerprint Identification System (AFIS) Market
7.7.2. Mexico Automated Fingerprint Identification System (AFIS) Market
7.8. Middle East & Africa Automated Fingerprint Identification System (AFIS) Market
7.8.1. Saudi Arabia Automated Fingerprint Identification System (AFIS) Market
7.8.2. South Africa Automated Fingerprint Identification System (AFIS) Market
7.8.3. Rest of Middle East & Africa Automated Fingerprint Identification System (AFIS) Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Biometrics4ALL Inc.
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Recent Developments
8.3.2. Suprema
8.3.3. Gemalto NV
8.3.4. Crossmatch (HID Global)
8.3.5. DERMALOG Identification Systems GmbH
8.3.6. M2SYS Technology
8.3.7. Morpho SA
8.3.8. 3M Cogent
8.3.9. Safran Identity and Security
8.3.10. NEC Corporation
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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