"Automated Fingerprint Identification System Market - Global Forecast to 2020" Published.
[USPRwire, Tue Apr 05 2016] 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
"The need for secure transaction and identification is likely to drive the automated fingerprint identification system market"
The automated fingerprint identification system market size is estimated to reach USD 8.49 billion by 2020, at an estimated CAGR of 21.0% between 2015 and 2020. The automated fingerprint identification system market is driven by factors such as the need to mitigate transaction risks, growing need for identification, and increase in the frequency of internal and external security threats.
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"The use of AFIS in law enforcement agencies to gain maximum traction during the forecast period"
The use of automated fingerprint identification sysetms by the government sectors, such as the law enforcement agencies, would be a major driver for the growth of the AFIS market worldwide. Fingerprint identification has been accepted as the refined methodology that has been in practice for many years and has been used by the agencies such as the FBI since many years. The automated fingerprint identification system market is also estimated to witness growth in healthcare, hospitality, and transportation sectors with transportation and government sectors contributing the largest market share during the forecast period.
"North America would lead the AFIS market with applications in the government and transportation sectors"
North America would lead the AFIS market compared to other regions. The early adoption and development of the AFIS technology has helped the North American AFIS market to lead. Also, the presence of major players such as the 3M Cogent Inc. (U.S.), Crossmatch Technologies Inc. (U.S.), HID Global Corporation (U.S.) among others has helped to boost the AFIS market in the region. The use of AFIS by the law enforcement agencies is maximum in the region, with U.S. leading the way.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people. Break-up of profile of primary participants is given below as:
* By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
* By Designation: C-Level - 35%, Director Level - 25%, and Others - 40%
* By Region: North America - 45%, Europe - 20%, APAC - 30%, and RoW - 5%
Due to rise in the demand for integrated automated fingerprint identification system solutions and increasing adoption of fingerprint identification as the system for identification and authentication, the automated fingerprint identification system market finds huge opportunity to thrive in the next five years.
Copyright [c] 2016 USPRwire Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Date:||Apr 5, 2016|
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