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Certainly, the sudden increase in security breaches during transactions highlights the urgent need for a robust security system that can build trust with customers. Digital payments have become a rapidly growing part of our lives. In the fiscal year 2020, the volume of digital payments reached a staggering USD 4.4 trillion, showing a significant growth of 17.2% compared to the previous year. The ongoing COVID-19 pandemic has led to a surge in online activities, with people relying more on platforms like Amazon.com, Inc., resulting in an anticipated rise in online transactions.
Established organizations and large enterprises are increasingly turning to online business, primarily because it involves lower costs related to communication and infrastructure. The significance of online marketing tools, such as Google ads and Facebook ads, is also on the rise, further boosting the e-commerce sector. Social media applications are widely used today, offering various marketing options and contributing to the growth of the e-commerce market. This increased reliance on online platforms has created a higher demand for enhanced security measures to authenticate online transactions. In many cases, fingerprints play a crucial role in authenticating digital payment applications on mobile phones, serving as a security check to ensure the authorized use of financial applications. This fingerprint authentication method is not limited to just digital payments; it is also being implemented across mobile banking services. The use of fingerprints adds an extra layer of security to ensure that online transactions are legitimate and authorized by the rightful user.
The growing importance of secure authentication methods is a response to the evolving landscape of online transactions. With the rise of digital payments, businesses are increasingly focused on implementing measures that protect sensitive financial information and ensure the safety of transactions. Fingerprint authentication, with its convenience and reliability, has become a popular choice in the realm of digital security. In conclusion, the surge in security breaches during transactions underscores the critical need for a robust security system to instill confidence in customers. The rapid growth of digital payments, fueled by the shift to online platforms, has prompted businesses to prioritize security measures. Fingerprint authentication, serving as a key security check, is gaining prominence in ensuring the authorized and secure use of digital payment applications and mobile banking services. As the digital landscape continues to evolve, reliable security measures will remain essential to safeguarding online transactions and maintaining the trust of users.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Growing offline and online payment security concerns globally |
| Market Dynamics | Increasing need for advanced biometric identification solutions in various industries. |
Automated Fingerprint Identification System Market Highlights:
Global Automated Fingerprint Identification System Market Overview:
Automated Fingerprint Identification System Market Size was valued at USD 13.46 Billion in 2023. The Automated Fingerprint Identification System industry is projected to grow from USD 16.47 Billion in 2024 to USD 67.83 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.35% during the forecast period (2024 - 2032). Growing offline and online payment security concerns and rising demand for secure financial transactions are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Automated Fingerprint Identification System Market Trends
Growing government initiatives are driving the market growth
Market CAGR for automated fingerprint identification systems is driven by several government initiatives to offer unique identity cards. Governments of several economies are linking one identification evidence with another of the same individual to expand transparency within the country's administrative system. This could only be possible by adopting digital solutions and technology in security systems. Digital solutions and technology in security systems have helped governments and their agencies predict and identify criminals before any damage is done. National, regional, and local level authorities, including the police, banks, intelligence offices, and governments, are installing automated fingerprint identification systems to maintain transparency within their systems owing to their multiple advantages related to healthcare, security, and financial transactions driving the growth of the global automated fingerprint identification systems market revenue.
Additionally, the surging offline and online payment security issues worldwide are one of the major factors driving the growth of the Automated Fingerprint Identification System Market. Some of the important areas of an automatic fingerprint identification system include electronic voter registration & electronic management, digitized driver licensing, biometric visas, e-passport, ID registries, fraud prevention, and general identification. Banking institutions are rapidly penetrating online banking and payment transactions significantly in recent years, propelling the need for advanced identification systems to safeguard their customers. The rapidly growing telecom sector will likely create many lucrative growth opportunities over the forecast period because the telecommunication industry is one of the largest users of automated fingerprint identification systems globally. Several initiatives undertaken by the government to encourage e-governance usage are further likely to augment the adoption of identification systems globally.
In addition, growing digitalization and the emergence of fast-speed networks in underdeveloped and developing economies are widening the scope of the automated fingerprint identification system. However, such growing adoption of these systems induces manufacturers to boost their funding and increase the research and development activities to launch distinctive products.
The increasing crime rate is expected to drive the demand for automated fingerprint identification system technology in law enforcement applications to identify criminals. The technology searches a set of known or latent fingerprints from the crime scene and compares them with a database of existing fingerprints. An automated fingerprint identification system is more effective for searching, classifying, and matching fingerprints than traditional identification methods. This is expected to propel the market's growth over the forecast period.
Automated Fingerprint Identification System Market Segment Insights:
Automated Fingerprint Identification System Component Insights
The Automated Fingerprint Identification System Market segmentation, based on components, includes hardware {fingerprint input modules [optical sensors, capacitive sensors, ultrasound sensors, and thermal sensors], and microprocessor/ microcontroller [display, and others]}, and software {matchers, and database fingerprints}. The software segment dominated the market, accounting for 35% of market revenue (4.71 Billion). In developing economies, category growth is driven by rising demand for integrated AFIS products for individual or criminal identification. However, hardware is the fastest-growing category due to the surging demand for integrating automatic fingerprint identification system machines.
Automated Fingerprint Identification System End-User Insights
The Automated Fingerprint Identification System Market segmentation, based on end-user, includes government, BFSI, hospitality, transportation, healthcare, education, retail & consumer goods, and others. The government category generated the most income (70.4%). This is owing to the growing adoption of automated fingerprint identification systems to ensure a unique identity for an individual that helps eliminate issues such as identity theft or false identity. However, BFSI is the fastest-growing category over the forecast period due to the rising adoption of automated fingerprint identification system technology to facilitate secure financial transactions.
Automated Fingerprint Identification System Search Type Insights
The Automated Fingerprint Identification System Market segmentation, based on search type, includes ten-print searches and latent searches. The ten-print searches category generated the most income over the forecast period. The ten-print subsystem recognizes sets of linked fingerprints as part of an indictment, summons, or application procedure to see whether a person seems to have a felony conviction. However, latent searches are the fastest-growing category over the forecast period due to their use in immigration, customs checks, politics, enforcement agencies, and government publications.
Figure 1: Automated Fingerprint Identification System Market, by Search Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Automated Fingerprint Identification System Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American automated fingerprint identification system market will dominate due to the early adoption of these identification technologies in the region. The increasing adoption of such solutions, specifically by education and financial Institutions, will contribute vigorously towards the market growth in this region. Further, the US automated fingerprint identification system market held the largest market share, and the Canada automated fingerprint identification system market was the fastest growing market in the North American region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Automated Fingerprint Identification System Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's automated fingerprint identification system market accounts for the second-largest market share due to the ongoing technological advancements in the region. Further, the German automated fingerprint identification system market held the largest market share, and the UK automated fingerprint identification system market was the fastest-growing market in the European region.
The Asia-Pacific automated fingerprint identification system market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to increased government initiatives to create personal tax IDs, unique identity numbers, and e-passports. Moreover, China’s automated fingerprint identification system market held the largest market share, and the Indian automated fingerprint identification system market was the fastest-growing market in the Asia-Pacific region.
Automated Fingerprint Identification System Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the automated fingerprint identification system market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the automated fingerprint identification system industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global automated fingerprint identification system industry to benefit clients and increase the market sector. Major players in the automated fingerprint identification system market, including Gemalto NV, NEC Corporation, Crossmatch, IDEMIA, Dermalog Identification Systems GmbH, SUPREMA, Fujitsu Limited, Sonda Technologies, and others, are attempting to increase market demand by investing in research and development operations.
Fujitsu Ltd provides information and communications technology solutions. It offers a range of computing devices, storage devices, servers, networking systems, electronic devices, and allied products. The company also provides application, business transformation, enterprise and cybersecurity, network, and communication services. Fujitsu offers 5G networks, network switches, optical networks, open networks, data center interconnects, electronic devices, air conditioning, software, storage, and servers. It markets products under the Fujitsu brand. In January 2021, Fujitsu Ltd announced the development of a novel multi-factor biometric authentication technology. This technology offers a non-contact biometrics shopping experience through facial data with identification.
Fingerprint Cards is a Swedish biometrics company founded in 1997 that develops and produces biometric systems. Fingerprint Cards AB has developed electronic systems that determine personal identity by analyzing the fingertip patterns of individuals. The Company sells licensed components to companies that make integrated electronic user information products such as cellular phones, access cards, smart cards, and computer security products. Fingerprint markets the technology internationally. In May 2022, Fingerprint Cards, a leading biometrics company, announced a partnership with Transcorp and Mswipe to bring contactless biometric payment cards to India.
Key Companies in the Automated Fingerprint Identification System market include
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Safran (France)
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NEC Technologies India Private Limited (India)
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FUJITSU (Japan)
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Aware, Inc. (US.)
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Gemalto Cogent, Inc. (U.S.)
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BIO-key International, Inc. (US.)
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Precise Biometrics AB (Sweden)
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secunet Security Networks AG. (Germany)
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Thales Group (France)
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Cognitec Systems GmbH (Germany)
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Crossmatch. (US.)
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Fulcrum Biometrics, LLC. (US.)
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Daon (Ireland)
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Facebook (US.)
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HID Global Corporation/ASSA ABLOY AB. (US.)
Automated Fingerprint Identification System Industry Developments
April 2023: The national database authority of Pakistan has introduced the impressively accurate automatic fingerprint identification system (AFIS), which was locally designed. Software developers from the National Database & Registration Authority created the system, which they have named "Nadir" (the Urdu word for "unique"). The automated system is expected to revolutionize how biometric identification is used in a variety of civil applications, including immigration, border control, e-governance, and social services. NADIR has attained an impressive accuracy rate above 99.5% based on the internationally renowned Fingerprint Verification Competition (FVC), a benchmarking exercise conducted in Italy. As a public service, NADRA can now reliably and swiftly store fingerprints & identify people for a variety of uses.
According to the statement, NADRA's status as a pioneer in cutting-edge identity management solutions has been cemented with the introduction of the system. As a result of this breakthrough, Pakistan has now joined some countries who have developed their original AFIS technology and is prepared to sell its product on the global market to assist other nations in improving their identification procedures. The worldwide market for biometric identification technology, according to authority authorities, is mostly dominated by suppliers from industrialized nations including the US, Russia, Japan, the UK, France, Germany, & others.
Ijazat Aap Ki, a latest data protection service that guarantees the security and privacy of citizen data, was introduced by NADRA in March. The first data protection service in Pakistan sends a 6-digit passcode to individuals' phones whenever a request is made for a transaction or personal information, giving users more control over their data and limiting unlawful access to the service providers, including banks.
March 2022: Suprema launched a new generation of credentials control products that concentrates heavily on contactless solutions. The star of Suprema's production was BioStation 3, an all-in-one access control solution that delivers numerous credential options, from facial recognition and mobile access to barcodes, QR codes, and RFID cards. BioStation 3 will be emitted in the second half of the year.
November 2021: Suprema announced the successful integration of its biometric access control products with Genetec Security Center, a unified security platform that connects security systems, sensors, and data in a single intuitive interface.
Automated Fingerprint Identification System Market Segmentation:
Automated Fingerprint Identification System Component Outlook
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Hardware
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Fingerprint Input Modules
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Optical Sensors
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Capacitive Sensors
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Ultrasound Sensors
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Thermal Sensors
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Microprocessor/ Microcontroller
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Display
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Others
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Software
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Matchers
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Database Fingerprints
Automated Fingerprint Identification System End-User Outlook
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Government
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BFSI
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Hospitality
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Transportation
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Healthcare
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Education
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Retail & Consumer Goods
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Others
Automated Fingerprint Identification System Search Type Outlook
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Ten-Print Searches
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Latent Searches
Automated Fingerprint Identification System Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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