Automated Fingerprint Identification System Market Size Expected to Grow at a CAGR over 23.8% from 2020 to 2026 :

Pune, India, November 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global AFIS (Automated Fingerprint Identification System) Market.


Automated Fingerprint Identification System Market Overview:
The AFIS (automated fingerprint identification system) market will witness a healthy growth from 2020 to 2026, a research report suggests. Growing at a CAGR of 23.8%, the market is projected to reach USD 33,395.2 million by 2026. Growing online & offline payment security concerns is expected to support the market growth along with payment security concerns. As predicted by analysts, the AFIS industry lacking significant breakthroughs will negatively affect the market’s performance from 2020 to 2026. During the forecast period, the market will be supported by the growth of fraud prevention, ID registries technologies and the growing need for electronic voter registration and election management. The lack of substantial technology breakthroughs on the other hand will challenge access control systems based organizations functioning in the global AFIS (automated fingerprint identification system) market. Analysts have split the market into components, end-users, regions, and type segments based on products and services. access control systems based companies have been profiled. The shortage of professional services is set to affect the global market during the forecast period 2020 to 2026. The report also provides the market’s performance forecasts till 2026. Analysts have studied the strategy of access control systems based organizations to help new entrants and established businesses. The access control systems sector itself is supported by the high penetration of the internet as well as the need for AFIS as biometric identification for authentication purposes. During the forecast period 2020 to 2026, the AFIS (automated fingerprint identification system) market is set to witness a health growth across components, end-users, regions, and type segments as well as regional markets.


Automated Fingerprint Identification System Market Segmentation:
The access control systems sector has seen growth across components, end-users, regions, and type segments owing to advances in integrated automated fingerprint identification systems and rapid growth in telecom. To study the market, analysts have further segmented components, end-users, regions, and type into components on the basis of hardware and software. The market is further segmented into end-users which is split into BFSI, education, government, healthcare, hospitality, retail, transportation, and others. Additionally, the AFIS (automated fingerprint identification system) market on the basis of type is segmented into latent searches and ten-print searches.


The segmental analysis presented in the report provides access control systems based organizations insights into key growth factors such as the rise in border management activities as well as challenges such as the lack of skilled human resource the market will face from 2020 to 2026. Wide adoption of AFIS technology and augmented demand for AFIS across government sectors are some of the key factors having an influence on access control systems based companies, suggest analysts as per the AFIS (automated fingerprint identification system) market report. But the report also identifies the demand for highly skilled professionals and the growing penetration of alternatives in the market as major threats companies in access control systems will face till 2026. 


Automated Fingerprint Identification System Market Regional Overview:
Access control systems based companies in the AFIS (automated fingerprint identification system) market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Spurting digitization and the usage of the internet will be a key growth driver for regional markets. However, the high product and maintenance cost will turn out to be a threat. For the forecast period 2020 to 2026 Each of these regional markets are studied in the report. Starting from North America, the regional market and access control systems based companies are spread across the United States, Canada, and Mexico. Dynamic policies and regulations will turn out to be a major challenge from 2020 to 2026. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the rising security concerns in banking activities as well as the wide penetration of smart phones, suggests the report. Similarly, the access control systems sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the AFIS (automated fingerprint identification system) market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2026.


Browse Full Report Details @ https://www.marketresearchfuture.com/reports/automated-fingerprint-identification-system-market-2500


Competitive Landscape:
The global AFIS (automated fingerprint identification system) market research report brings a comprehensive study of components, end-users, regions, and type market segments, regional analysis, and access control systems based company details of key players. As the forecast period 2020 to 2026 will bring new opportunities for the market owing to the presence of untapped market opportunities and growing investments across different sectors, the market is set to grow at a compound annual growth rate of 23.8% and is predicted to reach a value of US$33,395.2 million by 2026. With SWOT analysis of access control systems based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the lack of effective communication and supply and demand gap, companies in the access control systems sector can change the way business is done.


Industry News:
The acquisition broadens Bosch Security Systems' product range and regional reach in Canada, the United Kingdom, and the United States. Extreme CCTV Inc. and Robert Bosch GmbH, Stuttgart, Germany, recently announced that they have reached a binding deal in which Bosch will pay C$5.00 per share in cash for all remaining shares of Extreme common stock, for a total purchasing price of approximately C$93 million. The purchase price is about 30% higher than Extreme's 30-day average price. Extreme will become part of Bosch's Security Systems business after the sale is completed.