NEW YORK, March 30, 2016 /PRNewswire/ -- "The need for secure transaction and identification is likely to drive the automated fingerprint identification system market"
The automated fingerprint identification system market size is estimated to reach USD 8.49 billion by 2020, at an estimated CAGR of 21.0% between 2015 and 2020. The automated fingerprint identification system market is driven by factors such as the need to mitigate transaction risks, growing need for identification, and increase in the frequency of internal and external security threats.
"The use of AFIS in law enforcement agencies to gain maximum traction during the forecast period"
The use of automated fingerprint identification sysetms by the government sectors, such as the law enforcement agencies, would be a major driver for the growth of the AFIS market worldwide. Fingerprint identification has been accepted as the refined methodology that has been in practice for many years and has been used by the agencies such as the FBI since many years. The automated fingerprint identification system market is also estimated to witness growth in healthcare, hospitality, and transportation sectors with transportation and government sectors contributing the largest market share during the forecast period.
"North America would lead the AFIS market with applications in the government and transportation sectors"
North America would lead the AFIS market compared to other regions. The early adoption and development of the AFIS technology has helped the North American AFIS market to lead. Also, the presence of major players such as the 3M Cogent Inc. (U.S.), Crossmatch Technologies Inc. (U.S.), HID Global Corporation (U.S.) among others has helped to boost the AFIS market in the region. The use of AFIS by the law enforcement agencies is maximum in the region, with U.S. leading the way.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people. Break-up of profile of primary participants is given below as:
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C-Level – 35%, Director Level – 25%, and Others – 40%
- By Region: North America – 45%, Europe – 20%, APAC – 30%, and RoW – 5%
Due to rise in the demand for integrated automated fingerprint identification system solutions and increasing adoption of fingerprint identification as the system for identification and authentication, the automated fingerprint identification system market finds huge opportunity to thrive in the next five years.
The various key automated fingerprint identification system vendors profiled in the report are as follows:
1. 3M Cogent Inc.
2. Morpho SA
3. NEC Corporation
4. Fujitsu Ltd.
5. Suprema Inc.
6. HID Global Corporation
7. Dermalog Identification Systems GmbH
8. Sonda Technologies Ltd.
9. Crossmatch Technologies Inc.
10. M2SYS Technology
11. East Shore Technologies
12. AFIX Technologies Inc.
13. Papillon Systems
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the automated fingerprint identification system market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, newproduct developments, colloborations, expansions, and mergers & acquisitions.
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