ID: MRFR/AM/1500-HCR | 110 Pages | Author: Swapnil Palwe | June 2023
Biometric Vehicle Access Market Size is expected to cross USD 850 Million by 2030 at a CAGR of 14.06% during the forecast period 2022-2030
Biometric vehicle access market is expected to grow USD 850 million at a CAGR 14.06% during the forecast period. A Biometric Vehicle Access is one of the most used & preferred equipment all over the world and can be used in wide range of organizations. Biometric technology is a system which is based on behavioral and psychological characteristics and used for verification and recognition of manual access.it is user-friendly, reliable and convenient identification and monitoring method. Major auto-brands like BMW, Mercedes-Benz, Ford and Volkswagen are working on this technology and finding innovative ways to strengthen vehicles safety and security system. The need for increasing efficiency and accurate and high protection are encouraging organizations to use biometric vehicle access system. Biometric Vehicle access system refers to numerous versions such as finger print recognition, voice recognition and others. The use of Biometric vehicle access system ensures easy tracking and makes it accurate .Factors such as growing demand for authentication and high security are moving the market towards adoption of biometric vehicle access system. Whereas, moderate attentiveness and training as well as uncertainty hampers the growth of the market significantly.
The major player operating in the market of Global Biometric Vehicle Access are Safran S.A (France), Hitachi Ltd. (Japan), and Fujitsu Ltd. (Japan), Fingerprint Cards Ab, Methode Electronics, Synaptics Incorporated, Voicebox Technologies, Voxx International, Hid-Global
Biometric Vehicle Access market is highly application driven and systems are gaining popularity across the end user and technologies like such as Iris recognition, face recognition which is referred as one of the major driving factors for market. Europe is estimated to account for the largest share, in terms of value, of the Biometric Vehicle Access System Market .The automotive industry in Europe has the most advanced technologies in comparison to Asia-Pacific or North American regions.
Asia Pacific is referred as fastest growing region for Iris recognition. Increase in the modernization technological advancement, rising vehicle production and cost-effective biometric vehicle access systems will enhance the market for biometric vehicle access system in Asia-Pacific and the Middle East.
The report for Global Biometric Vehicle Access Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of 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.
|Market Size||2030: USD 850 Million|
|CAGR||14.06% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Authentication Type, Technology, Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hitachi Ltd. (Japan), Fujitsu Ltd. (Japan), Safran S.A (France), Voxx International, Fingerprint Cards Ab, Synaptics Incorporated, Methode Electronics, Voicebox Technologies, and Hid-Global.|
|Key Market Opportunities||Increase in the modernization technological advancement, rising vehicle production Increasing efficiency and accurate and high protection|
|Key Market Drivers||Growing demand for authentication and high security|
The biometric vehicle access market is projected to register substantial growth owing to the rising integration of advanced technologies in the automotive industry.
Major market players are anticipated to invest in product developments and launches to enhance safety and security. It is poised to motivate the growth of the market.
Europe is projected to exercise dominance over the biometric vehicle access market.
Asia Pacific is prognosticted to exhibit the highest rate of growth in the near future.
The major participants of the biometric vehicle access market are Hitachi Ltd. (Japan), Fujitsu Ltd. (Japan), Safran S.A (France), Voxx International, Fingerprint Cards Ab, Synaptics Incorporated, Methode Electronics, Voicebox Technologies, and Hid-Global.
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