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Tenprint Search Automated Fingerprint Identification System Market Expected to Reach $40 Billion by 2031—Allied Market Research

 
2022
Tenprint Search Automated Fingerprint Identification System Market

Report Code : A31672

quote The tenprint search automated fingerprint identification system market is expected to witness significant growth owing to the rising demand of the tenprint search automated fingerprint identification system in banking & finance, and government sector. quote

Tanumoy Upadhaya - Lead Analyst
Semiconductor and Electronics at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Tenprint Search Automated Fingerprint Identification System Market," The tenprint search automated fingerprint identification system market was valued at $5.6 billion in 2021, and is estimated to reach $40 billion by 2031, growing at a CAGR of 21.7% from 2022 to 2031.

A fingerprint card (or fingerprint card equivalent) containing rolled and plain impressions from the ten fingers of an individual. In this type of search, all ten fingerprints of a person are recorded, analyzed and are fed to universal database. This search is frequently observed before you apply for Visa interview. This is referred to as Tenprint search.

The key factors that drive the tenprint search automated fingerprint identification system market growth include the rising demand of the search automatic fingerprint identification system in banking & finance, and government sector, the increasing advantages of tenprint search automated fingerprint identification system over conventional method, and rising adoption of search automated fingerprint identification system in smartphones and automated teller machines are expected to drive growth of the market in the future. However, Lack of skilled technicians. Moreover, rising demand for automatic fingerprint system in border management, and growing adoption of online transactions across the globe create ample opportunities for the growth of tenprint search automated fingerprint identification system market share.

According to tenprint search automated fingerprint identification system market analysis, the tenprint search automated fingerprint identification system industry is fragmented into software, and hardware. The software segment was the highest revenue generating segment. By application, the market is divided into Commercial, Governments, Banking & Finance, Healthcare, Hospitality, and Others. The Government segment was the highest revenue generating segment that accounted for 25.71% share in 2021.

Increase in need of secure transactions and adoption of mobile transaction will drive the growth of this market. Handheld devices will provide a fast security check on Border Security units to control the huge mob. These growth factors and opportunities will provide a positive impact on automated fingerprint identification systems market.

The tenprint search automated fingerprint identification system market key players profiled in the report include THALES, IDEMIA, Suprema Inc, HID Global, Aware, Inc., DERMALOG Identification Systems GmbH, BioID Technologies, Futronic Technology Company Limited, Chongqing Huifan Technology Co., Ltd. and BIOENABLE TECHNOLOGIES PVT. LTD. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the tenprint search automated fingerprint identification system market.

KEY FINDINGS OF THE STUDY

  • In 2021, the software segment accounted for maximum revenue, and is projected to grow at a notable CAGR of 21.98% during the forecast period.
  • The government and others segments together accounted for around 48.0853.2% of the tenprint search automated fingerprint identification system market trends in 2021..
  • North America contributed for the major share in the tenprint search automated fingerprint identification system market size, accounting for more than 33.5% in 2021.

Key players profiled in the report include THALES, IDEMIA, Suprema Inc, HID Global, Aware, Inc., DERMALOG Identification Systems GmbH, BioID Technologies, Futronic Technology Company Limited, Chongqing Huifan Technology Co., Ltd. and BIOENABLE TECHNOLOGIES PVT. LTD. Market players have adopted various strategies, such as product launch, collaboration& partnership, joint venture, and acquisition to expand their foothold in the consumer product safety testing market.

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quote Tenprint Search Automated Fingerprint Identification System Market by Component (Software, Hardware), by Application (Commercial, Government, Banking and Finance, Healthcare, Hospitality, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

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