Biometric Vehicle Access Market- Global Industry Analysis and Forecast (2023-2029)

Biometric Vehicle Access Market was valued at US$ 11.97 Bn. in 2022. Global Biometric Vehicle Access Market size is expected to grow at a CAGR of 14 % through the forecast period.
Biometric Vehicle Access Market Overview:
The global Automotive Biometric Vehicle Access System Market is primarily driven by rising demand for authentication & high security, which is propelling the market toward biometric vehicle access system adoption. Biometric systems are increasingly being used in car security systems due to their high accuracy. Because biometric systems rely on biological evidence such as fingerprints, voice recognition, and iris scans, among other things, there is a small chance of security breach. Another crucial element driving the adoption of automobile biometrics is the significant insurance discounts offered to vehicles that have installed a biometrics system. Insurance firms may keep track of the drivers & monitor them in real time. Smartphone applications that use biometric pattern recognition and interface with cars to provide access to ignition and other critical services. These sensors can also keep track on the driver's health by monitoring their pulse, breathing, and skin conductance. The use of in-vehicle biometric applications will boost the market's growth prospects over the forecast period.To know about the Research Methodology:-Request Free Sample Report
Biometric Vehicle Access Market Covid-19 Insights:
COVID-19 is an extraordinary global public health catastrophe that has damaged virtually every industry & is predicted to hinder industrial expansion throughout the forecast period. Our ongoing research entails investigating the underlying COVID-19 problems as well as possible future directions. COVID-19 is investigated through changes in consumer behaviour and demand, purchasing patterns, supply chain rerouting, market dynamics & government action.
Biometric Vehicle Access Market Dynamics:
Drivers:
Increasing demand for connected vehicles: In recent years, the popularity of connected automobiles has fueled the market for sophisticated technologies such as IoT, AI, & machine learning. Furthermore, the need for self-driving autonomous automobiles to give comfort and convenience to drivers is forcing connected car technology forward. The biometric vehicle access system market will be propelled by the deployment of Vehicle-to-Vehicle (V2V) & Vehicle-to-Infrastructure (V2I) technologies for increased mobility communication during the projection year.

Information Technology Deployment: The deployment of sophisticated information technology, such as human-machine interface (HMI), passenger window touchscreens is driving market growth. In addition, the introduction of iris recognition technology will expand the biometric car access system's possibilities. The HMI also allows the driver's dashboard to function as an iPad, with a voice-activated interface for browsing cloud data. These beneficial attributes will benefit the automobile sector, resulting in market expansion.

Challenges:

Advanced technology such as sensors, cameras, & other linked technologies are used in the biometric vehicle entry system. The growing usage of connectivity and linked devices increases the cyber security risk. The usage of linked gadgets generates data that contains the passenger's personal information, which can be abused by hackers. This important element makes it difficult for automakers to embrace new technology, which comes at a hefty cost.
Biometric Vehicle Access Market Segment Analysis:
Based on Technology, Face Recognition & Iris Recognition are two types of biometric vehicle access. The iris recognition system is expected to rise significantly due to the rising need for safety features. Face recognition systems are vulnerable to fraud since faces can be duplicated. Face cloning frauds have been revealed many times in the past. As a result, there has been an increase in demand for iris or retina identification systems. The industry is still in its infancy, with significant growth projected by 2029.

Based on the Authentication, Fingerprint Recognition, Voice Recognition, & Hand Geometry are the three segments of the Biometric Vehicle Access Market. Fingerprint Recognition System led the Biometric Vehicles Access System market. The automobile sector is leading the way in incorporating fingerprint recognition technology into vehicles to improve safety, which has fueled the growth of this field. Fingerprint recognition technology will enable drivers to swiftly unlock and start their cars at a cheap cost. This system is mostly based on the preferences of each individual driver, lowering the risk of automobile theft. This significant innovation has strengthened the vehicle's fingerprint recognition system, which will aid the industry's development.
Biometric Vehicle Access Market Regional Overview:
The Europe region dominated the market with 47 % share in 2022. The APAC region is expected to witness significant growth at a CAGR of 14% through the forecast period. Due to the existence of major vehicle manufacturers such as Ford, Mercedes, Volkswagen, & BMW, Europe will get the largest share. During the projection period, revenue from the biometric vehicle access market would be boosted by a rise in passenger car manufacturing due to an increased need for safety features.

Asia Pacific will develop at the fastest rate, owing to rising luxury passenger car demand. China now dominates the global electric vehicle sector and is likely to maintain its lead during the forecast period. The revenue share will increase as the forecast for electric and hybrid passenger cars in China and Japan improves. The frequent occurrence of theft incidents, which necessitates increased security, will boost regional growth over the forecast period.

The objective of the report is to present a comprehensive analysis of the global Biometric Vehicle Access Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Biometric Vehicle Access Market dynamic, structure by analyzing the market segments and projecting the Biometric Vehicle Access Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Biometric Vehicle Access Market make the report investor’s guide.
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Biometric Vehicle Access Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2022-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 11.97 Bn.


Forecast Period 2023 to 2029 CAGR:
14%
Market Size in 2029:
US $ 29.95 Bn.


 Segments Covered:
by Vehicle Type
• Passengers Cars
• Battery Electric Vehicles


by Authentication
• Fingerprint Recognition,
• Voice Recognition
• Hand Geometry


by Technology
• Face Recognition
• Iris Recognition



Biometric Vehicle Access Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Biometric Vehicle Access Market Key Players are:
• Hitachi Ltd.
• Fujitsu Ltd.
• Safran S.A
• Synaptics Incorporated
• Nuance Communications
• Fingerprint Cards Ab
• Hid-Global
• Methode Electronics
• Voicebox Technologies
• VOXX International
• Assa Abloy Ab
• Bioenable Technologies Pvt Ltd.
• Miaxis
• Nymi
• Denso Corporation
• Valeo
• Continental AG
• Robert Bosch GmbH
• Mitsubishi Electric Corporation
• Johnson Electric Holdings Ltd.
• Lear Corporation (NYSE:LEA)

Frequently Asked Questions:

1. Which region has the largest share in Global Biometric Vehicle Access Market?
Ans: Europe region held the highest share in 2022.

2. What is the growth rate of Global Biometric Vehicle Access Market?
Ans: The Global Biometric Vehicle Access Market is growing at a CAGR of 14% during forecasting period 2023-2029.

3. What is scope of the Global Biometric Vehicle Access Market report?
Ans: Global Biometric Vehicle Access Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Biometric Vehicle Access Market?
Ans: The important key players in the Global Biometric Vehicle Access Market are – Hitachi Ltd., Fujitsu Ltd., Safran S.A, Synaptics Incorporated, Nuance Communications, Fingerprint Cards Ab, Hid-Global, Methode Electronics, Voicebox Technologies, VOXX International, Assa Abloy Ab, Bioenable Technologies Pvt Ltd., Miaxis, Nymi, Denso Corporation, Valeo, Continental AG, Robert Bosch GmbH, Mitsubishi Electric Corporation, Johnson Electric Holdings Ltd., and Lear Corporation (NYSE:LEA)

5. What is the study period of this Market?
Ans: The Global Biometric Vehicle Access Market is studied from 2022 to 2029.