Rise in demand of the ASFI systems in banking & finance, & government sector and surge in adoption of AFIS in smartphones & automated teller machines (ATM) drive the growth of the global AFIS market
PORTLAND, Ore., Feb. 16, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Automated Fingerprint Identification Systems (AFIS) Market By Component (Software and Hardware), By Search Type (Tenprint Search, and Latent Search) and Application (Commercial, Governments, Banking & Finance, Healthcare, Hospitality, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2030". According to the report, the global automated fingerprint identification systems industry generated $8.4 billion in 2020, and is anticipated to generate $68 billion by 2030, witnessing a CAGR of 23.3% from 2021 to 2030.
Download Sample Report (Get Full Insights in PDF - 295 Pages) @ https://www.alliedmarketresearch.com/request-sample/12561
Prime Determinants of Growth
Rise in demand of the ASFI systems in banking & finance, & government sector and surge in adoption of AFIS in smartphones & automated teller machines (ATM) drive the growth of the global AFIS market. However, lack of skilled technicians hinders the market growth. On the other hand, rise in demand of AFSI in border management and growth in adoption of online transactions across the globe present new opportunities in the coming years.
Covid-19 Scenario
- All the production and manufacturing facilities were halted due to the outbreak of the COVID-19 pandemic, which led to slowdown the AFIS market growth in 2020.
- Nevertheless, the market is going to recover once the global situation is beck to normalcy.
The Hardware Segment to Maintain its Leadership Status throughout the Forecast Period
Based on component, the hardware segment held the highest market share in 2020, accounting for nearly three-fifths of the global AFIS market, and is estimated to maintain its leadership status throughout the forecast period. This is due to adoption of hardware system in police department. Moreover, the software segment is projected to manifest the highest CAGR of 24.8% from 2021 to 2030, owing to continuous technological advancements in software technology.
Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/press-release/automated-fingerprint-identification-system-market.html
The Government Segment to Maintain its Lead Position during the Forecast Period
Based on application, the government segment accounted for the largest share in 2020, contributing to more than one-fourth of the global AFIS market, and is projected to maintain its lead position during the forecast period. This is due to usage of AFSI in government for security verification. However, the hospitality segment is expected to portray the largest CAGR of 26.6% from 2021 to 2030, owing to usage of AFSI for passport services.
North America to Maintain its Dominance by 2030
Based on region, North America held the highest market share in terms of revenue in 2020, accounting for more than one-third of the global AFIS market. This is due to presence of major players in this region. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 26.6% from 2021 to 2030, owing to increase in demand for security screening.
Enquire for Customization with Detailed Analysis of COVID-19 Impact in Report @ https://www.alliedmarketresearch.com/request-for-customization/12561?reqfor=covid
Leading Market Players:
- THALES
- IDEMIA
- Synaptics incorporated
- SecuGen Corporation
- HID global Corporation
- Precise biometrics
- Innovatrics
- Suprema
- Aware Inc.
- DERMALOG Identification Systems
- GmbH.
Access AVENUE - A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
https://www.alliedmarketresearch.com/avenue/trial/starter
Similar Reports:
Finance Cloud Market
MEMS Sensor Market
Memory Chip Market
Pre-Book Now with 10% Discount:
Fingerprint module Market - Global Opportunities and Forecasts, 2021-2030
Contactless Smart Cards Market - Global Opportunities and Forecasts, 2021-2030
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
Correa
5933 NE Win Sivers Drive
#205, Portland David, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
