Automated Fingerprint Identification System Market Overview:
The Automated Fingerprint Identification System market competitive landscape separates information by a competitor. The facts include a corporate overview, financials, revenue generated, market potential, investment in research and development, new market efforts, geographical presence, firm strengths and weaknesses, product introduction, and application dominance. The preceding data points are solely relevant to the businesses' competitive impact on the Automated Fingerprint Identification System market.
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Global Automated Fingerprint Identification System Market was worth US$ 5.41 Bn. in 2020 and total revenue is expected to grow at a rate of 18.4 % CAGR from 2021 to 2027, reaching almost US$ 17.65 Bn. in 2027.
This Automated Fingerprint Identification System market report discusses new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, opportunities in terms of emerging revenue streams, changes in market regulations, strategic market growth analysis, market size, categorical market growth, application niches, and dominance, product approvals, product launches, and geographic expansion.
An increase in criminal and terrorist activities worldwide is driving demand for automatic fingerprint identification systems to identify people for security purposes. Over the past 20 years, crime and terrorism have dramatically increased on a global scale. Numerous of these incidents have led to both fatalities and sizable financial losses. These actions might slow a country's economic development in the near future. For instance, the 26/11 terrorist attack in Mumbai, India, which left 164 people dead and enormous economic damage, had a negative effect on both the Bombay Stock Exchange and the National Stock Exchange. Additionally, it reduced India's GDP growth for about 6 to 8 months.
The market is divided into three categories: hardware, software, and services. The software sector is anticipated to dominate the market during the projected time frame. This can be the cause of the rising demand for integrated AFIS products for criminal or individual identification. Furthermore, makers of automated fingerprint identification systems are putting a lot of effort into creating highly effective, standards-compliant systems with complete adaptability, enabling users to get a solution tailored to their particular business operations very quickly.
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Key Players: The key players are
• Biometrics4ALL Inc.
• Gemalto NV
• Crossmatch (HID Global)
• DERMALOG Identification Systems GmbH
• M2SYS Technology
• Morpho SA (IDEMIA)
• 3M Cogent (US)
• Safran Identity and Security (US)
• NEC Corporation (Japan)
• M2SYS Technology (US)
• Afix Technologies Inc (US)
• Biometrics4ALL (US)
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The geographical section of the research also includes individual market influencing variables and changes in market regulations that affect current and future market trends. Data points such as downstream and upstream value chain analysis, technological trends, porter's five forces analysis, and case studies are only a few of the indicators used to forecast the market situation for various countries' growth.
COVID-19 Impact Analysis on Automated Fingerprint Identification System Market:
The report also discusses how COVID-19 impacted the Automated Fingerprint Identification System market.
Key Questions Answered in the Automated Fingerprint Identification System Market Report are:
- Which segment had the largest share in the Automated Fingerprint Identification System market?
- How is the competitive landscape of the Automated Fingerprint Identification System market?
- Which are the key factors impacting the Automated Fingerprint Identification System market growth?
- Which region has the maximum share in the Automated Fingerprint Identification System market?
- What will be the CAGR of the Automated Fingerprint Identification System market during the forecast period (2021-2027)?
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