The ‘Global Automotive Biometrics Market Share Report and Forecast 2022-2027’ by Expert Market Research, gives an extensive analysis of the global automotive biometrics market. The market is assessed based on its segments like type, technology, vehicle type, and major regions.
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Automotive Biometrics Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 312 million
• Forecast CAGR (2022-2027): 16.1%
• Forecast Market Size (2027): USD 764.1 million
One of the key regions in the global automotive biometrics market is predicted to be North America. This is a result of consumers’ rising disposable income in the area and their willingness to adopt technologically advanced items, both aspects expected to fuel the demand for automobile biometrics.
In the Asia Pacific, due to the developing requirement for automobiles in countries ranging from China and Japan to India and South Korea, the region is projected for higher growth in demand. Automotive biometric structures are used to perceive and verify vehicles in order to enhance automobile protection and comfort. The automobile biometric marketplace is developing consistently with growing automobile sales.
Automotive Biometrics Market Segmentation
Electronic devices called automotive biometrics are used in cars for identification and authentication for a variety of purposes, including vehicle entry, the ignition switch, vehicle immobilisation, rationalisation, and health monitoring. The automobile biometrics market includes components such as fingerprint scanners, facial recognition software, voice recognition software, and other biometric technologies.
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Based on type, the automotive biometrics market is bifurcated into:
• Hardware
• Software
On the basis of the technology, the market is segmented into:
• Fingerprint Scan
• Iris Recognition
• Palm Recognition
• Voice Recognition
• Facial Recognition
The vehicle types in the markets encompass:
• Passenger Vehicle
• Commercial Vehicle
The significant regional markets include:
• North America
• Latin America
• Europe
• Middle East and Africa
• Asia-Pacific
Automotive Biometrics Market Trends
One of the key elements propelling the expansion of the automotive biometrics market is the accuracy of biological evidence, such as fingerprint scans, facial and voice recognition. Biometrics have application in access control for starting a vehicle using biometric scanners. They can also facilitate personalisation of cars for users to call up playlists, contacts, and preferred apps. These applications are widely used globally and are expected to increase over the forecast period.
The demand for luxury cars has increased due to changing lifestyles and rise in disposable money. It is anticipated that the rising demand for automotive biometrics across many areas will fuel the automotive biometrics market growth throughout the forecast period.
For the safety and convenience of its customers, some companies, like, Mercedes-Benz, BMW, Ford, and Volkswagen, are attempting to integrate biometric systems into their automobiles. Global demand for automotive biometrics is increasing as a result of the proliferation of connected cars, accelerating the use of cutting-edge technologies such as the Internet of Things. Other trending technologies for biometrics include the implementation of artificial intelligence, along with machine learning.
Key Market Players
The major players in the global automotive biometrics market report include:
- IRITECH, INC.
- Fujitsu Limited
- Continental AG
- BioEnable Technologies Pvt. Ltd.
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers, and acquisitions, among other latest developments of the major market players.
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Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
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