Dublin, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The "Global Automated Fingerprint Identification System Market by Component, Search Type, Application - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Automated Fingerprint Identification System (AFIS) Market is set for substantial growth in the coming years, with a projected market value of USD 31.55 billion by 2030, up from an estimated USD 10.42 billion in 2023.
This significant expansion represents a Compound Annual Growth Rate (CAGR) of 17.09%. These findings are based on a comprehensive report that assesses the market's dynamics, trends, and potential, taking into account the cumulative impact of several global factors, including the COVID-19 pandemic, the Russia-Ukraine Conflict, and high inflation.
The ongoing research within the report delves into the substantial shifts in consumer behavior, supply chain disruptions, and government interventions prompted by the pandemic. Additionally, it addresses the ramifications of the Russia-Ukraine Conflict and the accompanying economic uncertainty in Eastern Europe, which could impact demand-supply balances, pricing strategies, and international trade dynamics. Furthermore, the report analyzes the effects of high inflation on the global economy and outlines fiscal policies aimed at mitigating its impact on various aspects such as demand, supply, cash flow, and currency exchange.
Market Segmentation & Coverage:
To provide a comprehensive outlook of the Global Automated Fingerprint Identification System Market, the report categorizes it into various sub-markets and offers insights into their respective trends and revenue forecasts. These sub-markets include:
- Component: Hardware and Software
- Hardware sub-categories: Displays, Fingerprint Input Modules, Microprocessors/Microcontrollers, and Sensors (further divided into Capacitive Sensors, Optical Sensors, Thermal Sensors, and Ultrasound Sensors)
- Software sub-categories: Database Fingerprints and Matchers (divided into Miniature-Based Matching and Pattern Matching)
- Search Type: Latent Print to Latent Print Search and Tenprint to Tenprint Search (with Tenprint to Tenprint Search projected to witness significant market share growth)
- Application: Banking & Finance, Government, Healthcare, Hospitality, Institutional, and Transportation (with Banking & Finance anticipated to hold substantial market share)
- Region: Americas, Asia-Pacific, and Europe, Middle East & Africa (with the Americas leading the market with a 40.32% market share in 2022, followed by Europe, Middle East & Africa)
Market Statistics:
The report provides market sizing and forecasts in seven major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF, allowing organization leaders to make well-informed decisions. Historical data from 2018 to 2021 is considered, with 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 as the forecast period.
FPNV Positioning Matrix:
To assess the Global Automated Fingerprint Identification System Market comprehensively, the report includes the FPNV Positioning Matrix, which evaluates vendors based on key metrics within Business Strategy and Product Satisfaction. This analysis helps users make informed decisions tailored to their specific needs, categorizing vendors into four distinct quadrants: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis:
The Market Share Analysis offers valuable insights into the competitive landscape of the market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, this analysis sheds light on the performance and competitive dynamics within the industry. It highlights the degree of competition, fragmentation, dominance, and amalgamation traits during the base year studied.
Key Insights:
The report addresses several critical questions, including:
- Market size and forecast of the Global Automated Fingerprint Identification System Market
- Inhibiting factors and the impact of COVID-19 on market dynamics
- Opportunities for investment in products/segments/applications/areas during the forecast period
- The competitive strategic window for opportunities in the market
- Technology trends and regulatory frameworks
- Market share of leading vendors
- Suitable modes and strategic moves for entering the market
Key Attributes:
- No. of Pages: 192
- Forecast Period: 2023 - 2030
- Estimated Market Value (USD) in 2023: $10.42 Billion
- Forecasted Market Value (USD) by 2030: $31.55 Billion
- Compound Annual Growth Rate: 17.0%
- Regions Covered: Global
Market Dynamics:
The report outlines the key drivers, restraints, opportunities, and challenges shaping the Global Automated Fingerprint Identification System Market:
Drivers:
- Transformation and technology evolution from a manual process to a digital process
- Growing investments in government and enterprise sectors to support e-governance applications
- Increasing online transactions along with rising national and network security threats
Restraints:
- Inconvenience and fear of privacy and intrusion
- Availability of substitutes such as iris and face recognition technologies
Opportunities:
- High demand for access control systems in the government and civil sectors
- Increasing demand for biometric systems as a service
- Growth in the mobile solutions market
Challenges:
- Data security and rapid processing
- Pricing and entry barriers in large-sized markets
Companies Mentioned
- 3M Company
- Aware, Inc.
- BIO-key International
- Dermalog Identification Systems GmbH
- East Shore Technology, LLC
- Fujitsu Limited
- HID Global Corporation by Assa Abloy AB
- id3 Technologies
- IDEMIA
- Innovatrics, s.r.o.
- Iritech, Inc.
- M2SYS Technology
- Maxar Technologies Inc.
- NEC Corporation
- Neurotechnology
- Papillon Systems
- Precise Biometrics AB
- Safran Group
- SecuGen Corporation
- secunet Security Networks AG
- Sonda Technologies Ltd.
- Suprema Inc.
- Synaptics Incorporated
- Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/krs5vj
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