ID: MRFR/AM/7055-HCR | February 2021 | Region: Global | 100 pages
A biometric system is an essential system utilized in automobiles for the purpose of biometric identification and authentication in vehicles. Its purpose is to provide safety in vehicles and used in various applications which includes vehicle immobilizer, health monitoring, and biometric car access. Biometric automotive security is a very important concept in the automotive industry due to the growing number of vehicle theft.
The Automotive Biometric Market has witnessed significant growth in the last couple of years; it is expected to retain the growth phase during the forecast period. The global automotive biometric market is expected to grow with a CAGR of 12% over the forecast period 2019-2025, and the global automotive biometric market size is expected to reach USD 1,128 Million by 2025.
Global Automotive Biometric Market is influenced by factors such as the growth of the automotive industry, growing need for safety and security, stringent regulations regarding biometric identification systems, and growing investments into automotive infrastructure development in the emerging economies. There has been an increase in the need for vehicle safety and security. As a result, the demand for automotive biometric industry has increased steadily. The growing competition between automotive biometric systems service providers is one of the key factors and the increasing support from the local government to employ safety and security systems in automobiles has strengthened the design and development of automotive biometric as per the mandates by governing bodies operating in semiconductor and automotive sector across different regions. The high price of automotive biometric system and the failure of electronic components used in connectivity infrastructure and automotive biometrics are expected to restrain the market growth. The rapid economic growth in developing countries, rising purchasing power, changing lifestyles, and the rapid development of connected cars, the increasing demand for fleet management, and the growth of autonomous vehicles create opportunities for the global automotive biometric market players.
Figure 1 Segmentation: Global Automotive Biometric Market
For this study, the global automotive biometric market has been segmented based on technology, vehicle type, application, and region. By technology, the global market has been segmented into voice recognition, face recognition, fingerprint scan, and others. Among these types, the fingerprint scan segment accounted for the largest market share, in 2018, followed by face recognition and voice recognition. By vehicle type, the market is segmented as passenger car and commercial vehicle. The passenger car segment held the largest market share in 2018; it is expected to hold the largest share throughout the forecast period. By application, the global market is segmented into the vehicle security system, driver safety system, and advanced steering and infotainment. The vehicle security system segment registered the largest share in 2018; it is expected to hold the largest share of the market during the forecast period, while the driver safety system segment is expected to witness the higher growth until the end of 2025.
Region-wise, the global automotive biometric market has been segmented as North America, Asia Pacific, Europe, and RoW region. Among these regions, North America accounted for the largest market share in 2018 in terms of revenue due to the presence of various players. Additionally, the rapid technological developments and the rising demand for commercial voyage, are expected to create a lucrative opportunity for the market. The Europe automotive biometric market is estimated to grow at a significant rate during the forecast period due to the growth of the passenger car market in the UK, Germany, and France.
The Prominent Players in the Global Automotive Biometric include Fujitsu Ltd (Japan), Synaptics Incorporated (US), Methode Electronics (US), VOXX International (US), Voicebox Technologies (US), Hitachi Ltd (Japan), Safran S.A (France), Nuance Communications (US), Hid-Global (US), Fingerprint Cards AB (Sweden).
The report for the global automotive biometric market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight into the market and industry performance. The report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical, and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Frequently Asked Questions (FAQ) :
The automotive biometric market can thrive at 12% CAGR by 2025.
By 2025, the automotive biometric market can value at USD 1,128 Mn.
Hitachi Ltd (Japan), Nuance Communications (US), Safran S.A (France), and Hid-Global (US) are some reputed names in the automotive biometric market.
The rise in need for safety and security can drive the key players of the automotive biometric market growth.
The growing adoption of face recognition in the adoption of automobile industry can boost the key players of the automotive biometric market growth.