North America holds 33 percent of automated fingerprint identification systems market
The automated fingerprint identification systems (AFIS) market is forecast to register approximately $38 billion by 2027, triggered by a global spike in criminal and terrorist activities in the last twenty years, according to a report by Transparency Market Research.
North America showed economic strength and held dominant position in 2018, approximately 33 percent of the global share following great contributions from Canada and the U.S. However, global interest in automated fingerprint identification systems has encouraged businesses to include it in their product portfolio. The report names Sonda Technologies, Fujitsu, NEC Corporation, Biometrics4ALL, Suprema, Gemalto, HID Global, DERMALOG, M2SYS Technology, and IDEMIA as leading names in this market.
Automated fingerprint identification systems are applied in law enforcement and for security applications to compare, using pattern matching algorithms, digital images of fingerprints with fingerprints already on record to identify a person. This practice enhances security, as terrorist attacks have had a devastating impact on economic growth and on the insurance, trade, tourism, FDI, and hospitality industries.
In India, for example, the loss of lives in the 26/11 terrorist attack in Mumbai as well as the economic blow greatly affected the National Stock Exchange and Bombay Stock Exchange. Another example is the 9/11 attack on the U.S. that led to an economic loss of some $2 trillion.
To fight and reduce terrorism, government agencies responsible with national security are rolling out automated fingerprint identification systems in key public spaces such as international airports, police stations, hospitals, and hotels.
The automated fingerprint identification systems market has also been influenced by ascending mass migration and industrialization, yet data theft and privacy concerns stall its global growth.