Automated Fingerprint Identification System Market Size

Automated Fingerprint Identification System Market Growth Projections and Opportunities

The increasing need for systems that automatically identify fingerprints for security reasons is driven by a rise in criminal and terrorist activities worldwide. Over the past two decades, crime and terrorism have grown significantly worldwide, causing not only economic losses but also loss of lives. To tackle this, automated fingerprint identification systems, commonly known as AFIS, use digital imaging technologies to collect, store, and analyze fingerprint data. AFIS is a type of biometric identification technology designed to prevent fraud and identify individuals. An automated fingerprint identification system reads, matches, and searches various types of prints, including latent prints, palm prints, and fingerprints. This process involves using specific hardware components such as fingerprint input modules, microcontrollers, displays, along with specialized software. The global market for automated fingerprint identification systems is divided based on components, end-users, search types, and regions.

In terms of components, the market is divided into hardware and software. In 2021, the software segment held the largest market share and is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 25.0% during the forecast period. The hardware segment, which includes fingerprint input modules, microprocessors/microcontrollers, displays, and others, was the second-largest market in 2021, valued at USD 4,218.61 million, and is expected to exhibit a CAGR of 29.0%. The end-user segment includes government, BFSI (Banking, Financial Services, and Insurance), hospitality, transportation, healthcare, education, retail and consumer goods, and others. In 2021, the government segment held the largest market share, with a value of USD 2,417.32 million, and is expected to have a higher CAGR of 29.0% during the forecast period. The BFSI segment, valued at USD 1,529.11 million in 2021, is projected to exhibit a CAGR of 25.7%.

Based on search type, the market is segmented into Ten-Print Searches and Latent Searches. The Ten-Print Searches segment, with a market value of USD 5,267.25 million in 2021, is expected to register a CAGR of 25.8% during the forecast period. Meanwhile, the Latent Searches segment, the second-largest market in 2021 valued at USD 4,058.26 million, is projected to have the highest CAGR of 28.3%. In conclusion, the demand for automated fingerprint identification systems is driven by the need for enhanced security due to the escalating criminal and terrorist activities globally. The market is witnessing significant growth in both software and hardware segments, with government agencies being the primary end-users. The forecast suggests a continued upward trend in the adoption of these systems for various applications, emphasizing the critical role they play in maintaining security and preventing fraudulent activities.