Automated Fingerprint Identification Market Size Growing at 23.1% CAGR Set to touch USD 99.9 Billion By 2032
Acumen Research and Consulting recently published report titled “Automated Fingerprint Identification Market Forecast, 2023 – 2032”
TOKYO, April 03, 2023 (GLOBE NEWSWIRE) — The Global Automated Fingerprint Identification Market Size accounted for USD 12.7 Billion in 2022 and is projected to achieve a market size of USD 99.9 Billion by 2032 growing at a CAGR of 23.1% from 2023 to 2032.
Automated Fingerprint Identification Market Research Report Highlights and Statistics:
- The Global Automated Fingerprint Identification Market Size in 2022 stood at USD 12.7 Billion and is set to touch USD 99.9 Billion by 2032, growing at a CAGR of 23.1%
- The Global Automated Fingerprint Identification Market is driven by the increasing need for advanced biometric identification solutions in various industries.
- North America held the largest market share owing to the presence of key market players and the increasing adoption of fingerprint identification systems in the region. The Asia Pacific region is set to have the fastest growth during the forecast period.
- Key players include NEC Corporation, 3M Cogent Inc., Crossmatch Technologies Inc., MorphoTrak LLC, and others.
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Automated Fingerprint Identification Market Report Coverage:
|Market||Automated Fingerprint Identification Market|
|Automated Fingerprint Identification Market Size 2022||USD 12.7 Billion|
|Automated Fingerprint Identification Market Forecast 2032||USD 99.9Billion|
|Automated Fingerprint Identification Market CAGR During 2023 – 2032||23.1%|
|Automated Fingerprint Identification Market Analysis Period||2020 – 2032|
|Automated Fingerprint Identification Market Base Year||2022|
|Automated Fingerprint Identification Market Forecast Data||2023 – 2032|
|Segments Covered||By Component, By Search Type, By Application, And By Geography|
|Automated Fingerprint Identification Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||NEC Corporation, Morpho (Safran Identity & Security), 3M Cogent, Crossmatch Technologies, Suprema Inc., HID Global, DERMALOG Identification Systems, BioEnable Technologies Pvt. Ltd., Papilon Savunma, and Fujitsu Limited.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Automated Fingerprint Identification Market Overview:
The automated fingerprint identification market has been on a steady rise in recent years, fueled by the need for advanced biometric identification solutions across a diverse range of industries. Automated fingerprint identification technology utilizes optical and capacitive technologies to capture and identify fingerprints with unparalleled accuracy and reliability.
The applications of this technology are numerous and diverse, ranging from criminal investigations and border control in the government sector, to healthcare and banking and finance industries. Other unique applications of automated fingerprint identification include access control and time and attendance systems, as well as identification and authentication in e-commerce and online banking.
Key players in the market include NEC Corporation, 3M Cogent Inc., Crossmatch Technologies Inc., and MorphoTrak LLC, among others. The market is highly competitive, with emerging trends such as the integration of fingerprint identification with smart cards and wearables, mobile biometric solutions, and cloud-based solutions.
Factors driving the growth of the automated fingerprint identification market include increasing government initiatives for the adoption of biometric solutions, the growing need for advanced security solutions, and the increasing demand for fingerprint identification systems in the healthcare sector.
Trends in the Automated Fingerprint Identification Market:
- Multi-Modal Biometric Authentication: The use of multiple biometric identifiers like fingerprints, facial recognition, and voice recognition for enhanced security and accuracy.
- Wearable Biometric Devices: The integration of fingerprint identification technology into wearable devices such as smartwatches and fitness trackers for seamless and secure identification.
- Fingerprint Identification in Transportation: The adoption of fingerprint identification systems in the transportation sector for improved security and identification purposes.
- Healthcare: The use of fingerprint identification in healthcare for patient identification and record-keeping purposes, improving efficiency and accuracy.
- Education: The use of fingerprint identification systems in educational institutions for student identification and attendance tracking.
- Retail: The adoption of fingerprint identification systems in retail stores for employee identification and access control.
- Fingerprint Identification in Hospitality: The use of fingerprint identification systems in the hospitality industry for guest identification and access control.
Automated Fingerprint Identification Market Dynamics:
- Anti-Spoofing Technology: The use of anti-spoofing technology in fingerprint identification systems to prevent fraudulent attempts to bypass security measures.
- 3D Fingerprint Scanning: The use of 3D fingerprint scanning technology for greater accuracy and identification of unique features.
- Contactless Fingerprint Identification: The development of contactless fingerprint identification systems for improved hygiene and convenience.
- Fingerprint Identification in Voting: The adoption of fingerprint identification systems in voting for improved accuracy and prevention of voter fraud.
- Government Initiatives: Increasing government initiatives for the adoption of biometric solutions for border control, criminal investigations, and other security-related applications are driving the growth of the market.
- Increasing Adoption of Mobile Biometric Solutions: The growing adoption of mobile biometric solutions such as fingerprint scanners in smartphones is driving the growth of the market.
Growth Hampering Factors in the Market for Automated Fingerprint Identification:
- Privacy Concerns: The collection and storage of biometric data can raise concerns about privacy, which can limit the adoption of fingerprint identification systems.
- Legal Regulations: Legal regulations around the collection and storage of biometric data can limit adoption in certain regions or industries.
- Alternative Identification Solutions: The availability of alternative identification solutions, such as smart cards and passwords, can limit the adoption of fingerprint identification systems.
- Vulnerability to Cyber Attacks: Fingerprint identification systems can be vulnerable to cyberattacks, which can compromise the security of biometric data.
- Cost: The cost of implementing and maintaining fingerprint identification systems can be a significant barrier for some organizations.
- Technical Limitations: The technical limitations of fingerprint identification systems, such as accuracy and speed, can limit their effectiveness in certain applications.
Check the detailed table of contents of the report @
By Type of Component
- Banking and Finance
By Type of Search
- Tenprint to Tenprint Searches
- Latent to Latent Searches
Automated Fingerprint Identification Market Overview by Region:
North America’s Automated Fingerprint Identification market share is the highest globally, with the United States being the largest contributor to the market. The increasing adoption of biometric solutions in the government and law enforcement sectors is driving the growth of the market in this region. For example, the Federal Bureau of Investigation (FBI) uses fingerprint identification systems for criminal investigations, and the US Customs and Border Protection (CBP) uses biometric solutions for border control.
The Asia-Pacific region’s Automated Fingerprint Identification Market share is also huge and is growing at the fastest rate, driven by increasing government initiatives for the adoption of biometric solutions. For example, the Aadhaar program in India, which uses biometric identification to issue unique identification numbers to citizens, has created a significant demand for fingerprint identification systems. China is also investing heavily in biometric solutions, with the government implementing a national biometric database for criminal investigations.
Europe is another key market for Automated Fingerprint Identification, with countries such as the UK, Germany, and France leading the market. The adoption of biometric solutions in the banking and finance industry is driving the growth of the market in this region. For example, banks in the UK are using fingerprint identification systems for customer identification and fraud prevention purposes.
The South American and MEA regions have a relatively lower but still growing Automated Fingerprint Identification market share. The government of Mexico has implemented a biometric identification system for voter registration, and the use of fingerprint identification systems in the healthcare industry is growing in the Middle East.
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Automated Fingerprint Identification Market Key Players:
Some major players in the market include NEC Corporation, 3M Cogent Inc., Crossmatch Technologies, Inc., Morpho SA, HID Global Corporation, BIO-key International, Inc., Aware, Inc., SecuGen Corporation, Suprema Inc., and Fulcrum Biometrics, LLC. Other notable players include M2SYS Technology, Papillon Systems, Green Bit S.p.A., Idemia Identity & Security USA LLC, Fingerprint Cards AB, Precise Biometrics AB, Sonda S.A., Dermalog Identification Systems GmbH, Gemalto NV, and Ayonix Corporation.
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Acumen Research and Consulting
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