Pune, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Global Overview
Automated fingerprint identification systems are used in identifying personnel based on their fingerprints. Utilization of biometric systems for authorized entry into restricted locations and preventing unlawful trespassing are likely to witness its huge adoption by enterprises and government entities. The global AFIS (automated finger identification system) market size can surge to a valuation of USD 33.39 billion by 2026, growing at a 23.8% CAGR during the forecast period (2020-2026). Prominent uses of AFIS applications are electronic voter registration, election management, fraud prevention, e-passports, biometric visas, and digitized documentation.
The AFIS Market is expected to gain traction owing to growing concerns of offline and online payments. The high penetration rate of the internet combined with need for AFIS for rapid and accurate identification of individuals can drive the global market growth. Moreover, government plans for legalizing biometrics for lowering crime rates can be a viable opportunity for AFIS manufacturers.
The telecom sector is expected to bank on the popularity of finger identification systems due to the technology being integrated in latest phones. Huge need for security safeguards and concerns for user privacy can drive the adoption of AFIS in the sector. Rising tensions at border checkpoints and egovernance usage in public offices driven by growing digitization can bode well for the market. Increasing use of fingerprint scanners for identity management are likely to culminate in mergers and acquisitions by key leading players.
But privacy concerns among citizen groups can restrain the market expansion. Concerns over the misuse of fingerprints for manipulating attendance systems and time cards can pose a challenge to the market.
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COVID-19 Impact
The COVID-19 pandemic has negatively affected the AFIS industry. This is attributed to lockdown policies in all nations with key manufacturers of components unable to reach deadlines. This led to huge decline in revenue numbers. However, the ease of lockdown restrictions and demand for strong biometric solutions can bode well for the global market in the coming years. But the fear of infections can restrict the growth of the AFIS industry.
Industry Trends:
The inclination towards biometrics has expedited the technologies of fingerprint identification, facial recognition, iris recognition, and others. Government policies’ aiming to legalize biometric applications as well as their integration in smart devices is an indicator of the wide scope for the industry. Companies in the industrial sector have installed these systems for authenticating the right personnel entry to premises and protecting confidential data. The improvement in algorithms and establishment of a national fingerprinting database are likely to drive the demand for these systems in the coming years.
Segmentation:
By component, it is divided into software and hardware. The software segment accounted for 53.4% market share in 2019 with a valuation pegged at USD 3,326.1 million. It can display 24.6% CAGR over the forecast period owing to the use of software for allowing authorization of personnel and tracking attendance of employees in office spaces. Development of high-performance systems coupled with customized solutions for enterprises can drive the segment demand. Introduction of open architecture platforms and integration of authentication solutions for security purposes by large organizations can bode well for the segment.
By type, it is segmented into ten-print searches and latent searches. The ten-print searches segment accounted for 56.2% market share in 2019. It can exhibit 24.8% CAGR over the assessment period due to its utilization in immigration, border control, elections, law enforcement, and government records. On the other hand, latent searches can gain traction in the AFIS industry for being used to attain potential clues or evidence for solving crimes.
By end-use, the global AFIS industry caters to sectors of hospitality, healthcare, government, transportation, BFSI, retail, education, and others. The government sector is expected to register 23.9% CAGR over the forecast period. It was valued at USD 1,368.9 million in 2019. Governments are vouching for AFIS databases for accumulating correct statistics on votes and updating criminal databases.
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Regional Segmentation:
The AFIS market covers regions of North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is touted to dominate the global market owing to being an early adopter of latest technologies and investments in infrastructure. The region was valued at USD 2,755.3 million in 2019 and expects to exhibit 22% CAGR over the forecast period. Presence of reputed law enforcement agencies and key vendors in the region can influence the growth of the market.
APAC can be the second-largest region globally for the AFIS industry due to initiatives by governments for launching biometric solutions. Moreover, access of healthcare cards and pension benefits through fingerprints can drive the market’s growth over the assessment period. The region can register 26.6% CAGR over the forecast period due to rising demand from BFSI, government, and manufacturing sectors.
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Competitive Analysis:
The AFIS industry is highly intense with product launches and mergers being prevalent. Solution providers are partnering with reputed firms to improve the current technology and offering authentication solutions to enterprises.
Key players involved in the market
- 3M Cogent, Inc.
- NEC Corporation
- Cross Match Technologies, Inc.
- HID Global Corporation
- Fujitsu
- Afix Technologies Inc
- Biometrics4ALL
- Safran Identity & Security
- M2SYS Technology
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Industry News
Aware, Inc., has acquired the AFIX suite of biometric solutions from Maxar Technologies. The suite of products can increase the size of product offerings to government agencies and small law enforcement offices. The company can deploy fingerprinting solutions for preventing identity theft and deduplication of biometrics.
FingerID, the AFIS by Moqi, is a centralized database used in accumulating fingerprints of immigrants, foreign nationals, and citizens. The system can be reliable for national agencies requiring accurate databases for security and privacy purposes. Moreover, the integration of AI for faster updates to the software can be a boon for enterprises and entities adopting the system.
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