Tenprint Search Automated Fingerprint Identification System Market Research, 2031
The global tenprint search automated fingerprint identification system market was valued at $5.6 billion in 2021, and is projected to reach $40 billion by 2031, growing at a CAGR of 21.7% from 2022 to 2031.
Automatic fingerprint identification systems are sensors that are used for measuring, monitoring, and recording parameters such as humidity, temperature, and heat losses. The automated fingerprint identification system (AFIS) provides temperature and strain measurements. They are widely used in different industries, smart homes, consumer electronics, and other areas. Tenprints comprise a complete set of fingerprints taken from an individual and collected on a single sheet. They are also referred to as "known prints" because the identity of the source of the impression is known. Automated fingerprint identification systems work on the principle of radio frequency. In the coming years, the tenprint search automated fingerprint identification system industry is expected to generate moderate revenue with investments in development, research, and tests. However, the market is reaching its mature stage, and is expected to generate modest revenue for key players in the coming years.
Factors such as an increase in government initiatives to promote smart city projects and a rise in the use of tenprint search automated fingerprint identification system in industrial applications to cut down operational expenses, are expected to drive the growth of the market in the future. However, a rise in data security concerns acts as a major barrier and hampers the market growth.
Furthermore, factors such as growth in adoption of automatic fingerprint identification in the healthcare sector for continuous monitoring and a surge in demand for tenprint search automated fingerprint identification systems in the commercial sector to increase efficiency and productivity are expected to offer lucrative opportunities for the tenprint search automated fingerprint identification system market growth.
According to the recent tenprint search automated fingerprint identification system market trends, the software components are expected to account for 67.94% of the market share in 2021, and are expected to exhibit a similar growth rate during the forecast period. Furthermore, the government and banking & finance segments account for 44.9% market share in 2021.
Significant factors that impact the growth of the tenprint search automated fingerprint identification system market size include the rising demand for the tenprint search automated fingerprint identification system in the banking & finance, and government sectors. Moreover, the increasing advantages of the tenprint search automated fingerprint identification system over the conventional method are. are expected to drive the market growth. However, a lack of skilled technicians is a prime barrier for early adoption, which hampers the growth of the market. On the contrary, rising demand for automated fingerprint identification systems in border management is offering a potential growth opportunity for the tenprint search automated fingerprint identification system market share during the forecast period.
Segment Overview
The tenprint search automated fingerprint identification system market is segmented into Component and Application.
By component, the market is divided into software and hardware. The software segment was the highest revenue contributor to the market in 2021.
By application, it is divided into commercial, government, banking & finance, healthcare, hospitality, and others. The governments segment was the highest revenue contributor to the market in 2021.
Region-wise, the tenprint search automated fingerprint identification system market trends are analyzed across North America (the U.S. and Canada), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific) and LAMEA (Latin America, the Middle East, and Africa). North America, specifically the U.S., remains a significant participant in the global tenprint search automated fingerprint identification system industry. Major organizations and government institutions in the country are intensely putting resources into technology.
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. These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the tenprint search automated fingerprint identification system market from 2021 to 2031 to identify the prevailing tenprint search automated fingerprint identification system market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the tenprint search automated fingerprint identification system market outlook assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global tenprint search automated fingerprint identification system market trends, key players, market segments, application areas, tenprint search automated fingerprint identification system market forecast, and market growth strategies.
Tenprint Search Automated Fingerprint Identification System Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 40 billion |
 Growth Rate | CAGR of 21.7% |
 Forecast period | 2021 - 2031 |
 Report Pages | 193 |
 By Component |
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 By Application |
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 By Region |
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 Key Market Players | Suprema Inc, Futronic Technology Company Limited, THALES, BIOENABLE TECHNOLOGIES PVT. LTD, DERMALOG Identification Systems GmbH, HID Global, BioID Technologies, Chongqing Huifan Technology Co., Ltd., Aware, Inc., IDEMIA |
Analyst Review
The tenprint search automated fingerprint identification system market is competitive, owing to strong presence of existing vendors. Companies in the market, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to the market requirements. Competitive environment in the market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by firms.
The market holds a substantial scope for growth on a global scale. Recent discoveries and innovations have created vast opportunities for numerous players to step in the Tenprint Search Automated Fingerprint Identification System (AFIS) market.
Increase in focus of manufacturing companies to improve customer retention by offering quality products and surge in demand for IoT-based System and devices drive the market growth. Increase in data security concerns is the biggest limitation for the market growth.
Surge in competition and reduced awareness among small scale manufactures are the key factors that hamper growth of the market. Increase in awareness for need of tenprint search automated fingerprint identification system and rise in concerns regarding safety and quality are the factors opportunistic for the market growth.
The Tenprint Search Automated Fingerprint Identification System Market is expected to grow at a CAGR of 21.73% during the forecasted period.
Major applications of the Tenprint Search Automated Fingerprint Identification System are in commercial, governments, banking & finance, healthcare, hospitality and other sectors.
North America is estimated to be the largest regional market for Tenprint Search Automated Fingerprint Identification System in 2021.
The global Tenprint Search Automated Fingerprint Identification System Market was valued at $5,633.4 million in 2021
The major players in the Tenprint Search Automated Fingerprint Identification System Market include THALES, IDEMIA, Suprema Inc, HID Global, Aware, Inc., DERMALOG Identification Systems GmbH and others.
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