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The automated fingerprint identification system (AFIS) market has seen rapid growth in recent years and shows no signs of slowing down. This blog explores the factors driving this growth, the significant trends, and key industry developments shaping the future of AFIS.

Market Growth and Projections

Exponential Market Expansion

• 2023 Market Size: $11.55 billion
• 2024 Forecast: $13.97 billion
• CAGR: 20.9%

The recent surge in AFIS market size is driven by rising crime rates, the need for enhanced identity verification, increased emphasis on security, urbanization, population growth, and economic development.

Future Growth Predictions

• 2028 Forecast: $30.02 billion
• CAGR: 21.1%

Future growth is expected due to heightened security concerns, increased adoption in civil applications and emerging economies, and the rising demand in e-commerce and retail. Key trends include mobile AFIS solutions, cloud-based AFIS, integration with edge computing, blockchain for secure fingerprint data management, and IoT integration for smart access control.

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Combating Identity Theft and Fraud

AFIS in Fighting Fraud

The rise in identity theft and fraud is a significant factor driving the AFIS market forward. Identity theft involves the unauthorized acquisition and use of personal information for fraudulent purposes.

• Factors Contributing to Theft and Fraud:
  • Widespread adoption of digital technologies and online platforms
  • Proliferation of dark web marketplaces
  • Weak security practices
  • Inadequate cybersecurity measures

Automated fingerprint identification systems enhance security by providing secure biometric authentication methods. This helps prevent unauthorized access and fraudulent activities.

• Experian Report: In 2022, consumer identity theft complaints in the U.S. rose 3.3% to over 1.43 million from about 1.39 million in 2020.

Key Industry Players

Major Companies in the AFIS Market

The market features several leading companies, including:

• 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.
• Sonda Technologies Ltd.

Technological Innovations

Cutting-Edge Technologies

Innovative technologies are crucial for companies to maintain their competitive edge in the AFIS market.

• NADIR Technology: Developed by the National Database and Registration Authority in Pakistan, NADIR is a high-accuracy automatic fingerprint identification technology used in law enforcement, border control, access control, attendance tracking, and financial transactions. This technology showcases Pakistan’s capability in civil identification and nation-building, offering robust identity verification methods.

Industry Partnerships

Partnerships play a vital role in driving innovation and expanding the applications of AFIS.

• Fingerprint Cards AB and Mswipe: In May 2022, these companies partnered to provide a convenient payment solution for merchants in India, aligning with the growing demand for contactless and digital payments.

Market Segmentation

By Component

• Hardware
• Software
• Services

By Identification

• Latent Print Identification
• Tenprint Identification

By End Use

• Banking and Finance
• Consumer Electronics
• Defense and Security
• Government
• Healthcare
• Transport or Logistics
• Other End Uses

Regional Insights

Geographic Market Dynamics

• 2023 Leader: North America held the largest market share.
• Fastest-Growing Region: Asia-Pacific is expected to lead in growth during the forecast period.

Conclusion

The AFIS market is experiencing significant growth driven by rising security concerns, technological advancements, and increasing applications across various sectors. As digital transformation continues, the demand for robust and reliable identity verification systems like AFIS will only grow, ensuring enhanced security and efficiency in numerous applications.

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The Automated Fingerprint Identification System Global Market Report 2024  provides an overview of the automated fingerprint identification system market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automated fingerprint identification system market forecast analyzes automated fingerprint identification system market size, automated fingerprint identification system market share, leading competitor and their market positions.

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