PUNE, India, February 3, 2016 /PRNewswire/ --
According to the new market research report "Automated Fingerprint Identification System Market by Component (Hardware and Software), Search Type (Tenprint Search, Latent Search), Application (Banking & Finance, Government, Healthcare, and Transportation) and Geography - Global Forecast to 2020", published by MarketsandMarkets, the market is expected to be worth USD 8.49 Billion by 2020 at an estimated CAGR of 21.0% between 2015 and 2020. The transformation and technology evolution from the manual process to digital process and the growing investments in the government and enterprise sectors to support e-governance applications would help drive the AFIS market during the forecast period.
Browse 75 market data Tables and 45 Figures spread through 150 Pages and in-depth TOC on "Automated Fingerprint Identification System Market".
Early buyers will receive 10% customization on this report
The growing investments in the government and banking & finance sectors to support e-governance and secure transactions is likely to drive the automated fingerprint identification system market
The major forces driving the automated fingerprint identification system market are the transformation and technology evolution from the manual process to digital process. As the criminal records keep on increasing, the need for the digitization of the data through the use of AFISs would drive the market for law enforcement applications in the government sector. The need for secure transactions in the banking & finance sector would be another major driver in the AFIS market.
Mobile payment solution to play a key role in the automated fingerprint identification system market
The increasing preference for the mobile payments would help to drive the AFIS market to ensure safe transactions instead using password as a safety tool. The use of fingerprint identification is expected to play a key role in changing the security landscape for transactions and would grow at a high rate during the forecast period.
Ask PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=236219370
Government and transportation sectors hold the significant market share
The government and transportation sectors are expected to hold the significant share of the automated fingerprint identification system market. The AFIS market for the government sector is expected to grow at the highest rate between 2015 and 2020. The use of AFIS in e-governance applications and by the law enforcement agencies would drive the AFIS market for the government sector. The market is also estimated to witness growth in banking & finance and hospitality sectors during the forecast period.
North America expected to hold the largest market share and to grow at the highest rate
North America is expected to have the largest market share and dominate the automated fingerprint identification system market between 2015 and 2020 due to the presence of several players in the region. The North American AFIS market has offered several opportunities in various sectors, such as the law enforcement agencies like Federal Bureau of Investigation (FBI) (U.S.), using AFISs for criminal investigations.
Inquire before buying @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=236219370
The major vendors in the automated fingerprint identification system market include 3M Cogent Inc. (U.S.), Morpho SA (France), and NEC Corporation (Japan) among others.
The scope of the report covers detailed information regarding the major factors influencing the growth of the automated fingerprint identification system market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the automated fingerprint identification system market.
Browse Related Reports
Biometric System Market by Application (Government, Military & Defense, Healthcare, Banking & Finance, Consumer Electronics, Travel & Immigration, and Security), Technology (Face Recognition, Fingerprint Recognition, Iris Recognition, Palm Recognition, Voice Recognition, Signature Recognition, Vein Recognition, and Others), Function (Contact and Non-Contact) & Geography (North America, Europe, APAC, Row) - Global Forecast to 2020
Fingerprint Sensors Market by Type (Swipe &Area), Technology, Material (Optical Prism, Piezoelectric, Capacitive, & Adhesives), Application (Mobile, Government, Healthcare, Commercial Security & Others) & Geography - Global Forecast to 2020
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets