Automated fingerprint identification system is a branch of biometric systems that use digital images of fingerprints and compare them with a database of fingerprint records in order to determine the identity of an individual. Automated fingerprint identification systems are utilized by law enforcement and for security applications in order to determine an individual’s identity. Pattern matching algorithms are at the heart of these systems, which are used to compare two different fingerprint images to identify an individual.
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Increasing Criminal & Terrorist Activities Aiding Market Growth
Increasing criminal & terrorist activities across the globe is a major factor that fuels the demand for automated fingerprint identification systems in order to identify individuals for security purposes. The past two decades have seen significant increase in crime and terrorism across the globe. Many such incidents have led to huge economic damage as well as loss of life. These activities can slow down the economic growth of a country in the short-term period. For instance, the 26/11 terrorist attack in Mumbai, India, resulted in the loss 164 lives and huge economic damage, which adversely impacted the National Stock Exchange and Bombay Stock Exchange. It also reduced the GDP growth of India for nearly 6-8 months. The total (direct and indirect) economic loss post the 9/11 U.S attack was nearly US$ 2 trillion. Such attacks impact insurance, trade, tourism, FDI, and hospitality industries for a long period of time. Government agencies are focusing on the deployment of automated fingerprint identification systems at public places such as international airports, police stations, hospitals, and hotels to prevent such activities that can impact the whole nation. The impact of this driver is likely to be high in the short term and medium term, since terrorist activities and crime rates are increasing year by year. In the long term, the impact is expected to be medium, because many nations have come together to fight terrorism, which would substantially reduce such activities.
Rising mass migration across the globe and surge in industrialization have also fueled the automated fingerprint identification systems market, globally. However, increasing concerns regarding data theft and data privacy hamper the growth of the global automated fingerprint identification systems market.