Global Automotive Biometric Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026
MarketResearch.biz delivers in-depth insights on the global automotive biometric market in its upcoming report titled, “Global Automotive Biometric Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global automotive biometric market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive biometric market report has been segmented on the basis of technology, vehicle type, and region.
A biometric system is a pattern recognition system which makes a personal identification by determining the authenticity of a specific finger prints or retina of the individuals. Biometrics are basically known for application in authentication. Biometric in automotive is used for security purpose. Every person has its own unique fingerprint which can be used as unique key to lock /unlock the vehicle.
Technological advancements in vehicle security systems and growing automotive theft across the globe is expected to result in demand for high-end security systems are major factors driving growth of the global automotive biometric market. In addition, growing demand from luxury and premium car owners for advanced biometric system with face, palm print, figure print, and voice recognition feature is another factor expected to support growth of the global automotive biometric market. Moreover, availability of aftermarket solution for passenger cars in developing countries is expected to support growth of the global automotive biometric market.
However, high installation cost is a major factor restraining growth of the global automotive biometric market. in addition, breach of personal information is another factor expected to challenge growth of the global automotive biometric market to certain extent.
Technological advancements and increasing R&D activities by manufacturers is expected to create new opportunities for players operating in the global automotive biometric market over the forecast period.
North America market is expected to dominate in the global automotive biometric market with higher revenue share as compared to that of the other regional markets, and is expected to continue its dominance during the forecast period. This can be attributed to increasing demand for in-built biometric security systems from premium and luxury cars owners, growing vehicle theft, and presence of prominent players operating in countries in this region. According to FBI, there were an estimated 765,484 thefts of motor vehicles nationwide in 2016, which was an increase by 7.4% compared to previous year. Europe market accounts for significant revenue share in the global automotive biometric market, followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to register fastest growth in terms of revenue, owing increasing vehicles production and increasing automotive investment in emerging economies in this region.
Global Automotive Biometric Market Segmentation:
- Fingerprint Scan
- Voice Recognition
- Face Recognition
- Others (retina, palm print, etc.)
By Vehicle Type:
- Passenger Car
- Commercial Vehicle
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Hitachi, Ltd.
- Fujitsu Limited
- Nuance Communications, Inc.
- Voxx International Corporation
- Safran S.A.
- Fingerprint Cards AB (publ)
- Methode Electronics, Inc.
- Synaptics Incorporated
- ASSA ABLOY AB (HID Global Corporation)
- BioEnable Technologies Pvt. Ltd.
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