July17 , 2024

Automated Fingerprint Identification Systems (AFIS) Market to Witness Remarkable Growth from 2020

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Automated Fingerprint Identification Systems (AFIS) Market to Witness Remarkable Growth from 2020

Automated Fingerprint Identification Systems (AFIS) Market Size

Automated Fingerprint Identification Systems (AFIS) Market to Reach $68.00 Billion By 2030

The key growth strategies of AFIS market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.โ€

โ€” Allied Market Research

WILMINGTON, DELAWARE, UNITED STATES, June 12, 2024 /EINPresswire.com/ — The global Automated Fingerprint Identification Systems (AFIS) market share and Automated Fingerprint Identification Systems (AFIS) market size are expected to witness considerable growth, owing to include increasing use of Automated Fingerprint Identification Systems (AFIS) in the government and banking & financial sectors and the ongoing technological advancements in IoT and cloud-based services.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž & ๐“๐Ž๐‚: https://www.alliedmarketresearch.com/request-sample/A12196

Allied Market Research, titled, โ€œAutomated Fingerprint Identification Systems (AFIS ) Market by Component, Search Type and Application: Global Opportunity Analysis and Industry Forecast, 2021โ€“2030,โ€ The Global automated fingerprint identification system market was valued at $8.42 Billion in 2020, and is projected to reach $68.00 Billion by 2030, growing at CAGR of 23.3% from 2021 to 2030.

The key factors that drive the Automated Fingerprint Identification Systems (AFIS) market growth include the rising demand for ASFI systems in banking & finance and the government sector, the increasing advantages of automated fingerprint identification systems over conventional methods, and the rising adoption of AFIS in smartphones and automated teller machines are expected to drive the growth of the market in the future. However, Lack of skilled technicians. Moreover, the rising demand for AFSI in border management, and the growing adoption of online transactions across the globe create ample opportunities for the growth of the Automated Fingerprint Identification Systems (AFIS) market share.

By components, the Automated Fingerprint Identification Systems (AFIS) industry is fragmented into software and hardware. The Hardware segment was the highest revenue-generating segment accounting for $ 4915.1 million in 2020. However, the Software segment is expected to witness the fastest growth at a CAGR of 24.8% during the forecast period.

By search type, the market is divided into Tenprint Search and Latent Search. The Tenprint Search segment was the highest revenue-generating segment accounting for $ 4654.1 million in 2020. However, the Latent Search segment is expected to witness the fastest growth at a CAGR of 24.9% during the forecast period.

๐†๐ž๐ญ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐ž๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ€™๐ซ๐ž ๐‘๐ž๐ช๐ฎ๐ข๐ซ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/A12196

By application, the market is divided into Commercial, Government, Banking & Finance, Healthcare, Hospitality, and Others. The Government segment was the highest revenue-generating segment accounting for $ 2115.8 million in 2020. However, the Hospitality segment is expected to witness the fastest growth at a CAGR of 26.6% during the forecast period.

By region, the Automated Fingerprint Identification Systems (AFIS) market analysis is done across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor and was valued at $ 2874.9 million in 2020. This region is further expected to attain a market value of $ 4136.2 billion by 2022, to grow at a CAGR of 20.6%. Moreover, Asia-Pacific is expected to maintain its dominant position during the forecast period.

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

The Automated Fingerprint Identification Systems (AFIS) industry’s key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.

๐’๐จ๐ฆ๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ฆ๐š๐ฃ๐จ๐ซ ๐ค๐ž๐ฒ ๐ฉ๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐ ๐ฅ๐จ๐›๐š๐ฅ ๐€๐ฎ๐ญ๐จ๐ฆ๐š๐ญ๐ž๐ ๐…๐ข๐ง๐ ๐ž๐ซ๐ฉ๐ซ๐ข๐ง๐ญ ๐ˆ๐๐ž๐ง๐ญ๐ข๐Ÿ๐ข๐œ๐š๐ญ๐ข๐จ๐ง ๐’๐ฒ๐ฌ๐ญ๐ž๐ฆ๐ฌ (๐€๐…๐ˆ๐’) ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ข๐ง๐œ๐ฅ๐ฎ๐๐ž,

SecuGen Corporation
HID global Corporation
Precise biometrics
Innovatrics, Suprema
Aware Inc.
DERMALOG Identification Systems GmbH

๐‚๐Ž๐•๐ˆ๐ƒ-๐Ÿ๐Ÿ— ๐ˆ๐ฆ๐ฉ๐š๐œ๐ญ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ

COVID-19 has caused the overall semiconductor industry to mobilize quickly and make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers & partners across the globe.

According to the Automated Fingerprint Identification Systems (AFIS) market trends, the COVID-19 pandemic has severely impacted the global manufacturing and industrial sectors as production facilities have stalled, which, in turn, led to significant demand in industries.

Demand from the wireless communication segment is expected to increase, owing to factors such as rise in broadband usage, higher demand for cloud services, and video streaming. In addition, in the medium to long term, COVID-19 is expected to further push the need for digital transformation and technologies, such as 5G, IoT, AI, and intelligent edge computing, for future optimization.

Some of the Automated Fingerprint Identification Systems (AFIS) companies have witnessed temporary delays in services, increased costs, delays, and revenue losses due to the pandemic.

The manufacturing sector witnessed severe loss, and thus no new orders have been placed during the pandemic. In addition, this impact is estimated to continue till 2021. Moreover, international consumer electronics and electric devices markets are in a very weak state, owing to lockdowns imposed to tackle the pandemic. Although the markets in the U.S. and Europe witnessed mild recovery in the second half of 2020, they are still significantly down on pre-crisis levels. Therefore, the Automated Fingerprint Identification Systems (AFIS) market size is facing major obstacles from the emergence of the COVID-19 pandemic.

The overall impact of the pandemic is impacting the production process of several industries, including semiconductors and electronics. Trade barriers are further constraining the demand and supply outlook. The overall production process is adversely affected as governments of different countries have already announced a total lockdown and temporary shutdown of industries.

๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐›๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A12196

๐Š๐ž๐ฒ ๐…๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐Ž๐Ÿ ๐“๐ก๐ž ๐’๐ญ๐ฎ๐๐ฒ

– The Hospitality sector is projected to be the major industry vertical during the forecast period.
– North America and Europe dominated the market in 2020.
– Asia-Pacific is anticipated to witness the highest growth rate during the forecast period.
– The U.S. was the major shareholder in 2020 in the North America Automated Fingerprint Identification Systems (AFIS) market.

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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Originally published at https://www.einpresswire.com/article/719297158/automated-fingerprint-identification-systems-afis-market-to-witness-remarkable-growth-from-2020-2030