“Stratistics Market Research Consulting asserts that demand for AFIS systems is being fuelled in large part by increasing spending in the government sector…”
A new market report from Stratistics Market Research Consulting is predicting solid growth for the fingerprint authentication market over the next several years.
Entitled “Automated Fingerprint Identification System (AFIS) – Global Market Outlook (2017-2026)”, the report uses 2017 as a baseline, estimating that the AFIS market had a value of $5.79 billion that year. Looking ahead, the report forecasts that this value will grow to $26.55 billion by 2026, reflecting a CAGR of 18.4 percent over the forecast period.
Stratistics Market Research Consulting asserts that demand for AFIS systems is being fuelled in large part by increasing spending in the government sector, as well as growth in the area of mobile payments, with some of the leading mPayment platforms supporting fingerprint authentication for purchase authorization. But there are obstacles, too, with the firm pointing specifically to iris-based authentication and “performance deterioration for inaccurate detection of fingerprint” in a report summary.
Curiously, the summary makes no mention of facial recognition, which is unquestionably emerging as a primary biometric modality both in government biometrics programs and in consumer devices, especially smartphones. In any case, the report does highlight some of the most notable players in the biometrics industry, including Crossmatch, Gemalto, HID Global, IDEMIA, NEC, and Suprema.
The full report is available for purchase through Research and Markets.
February 1, 2019 – by Alex Perala