Demand for Electric and Driverless Cars, and Increased Applications of Sensor-based Technology Are Highly Enhancing the Automotive Biometrics Market.
Hyderabad, India - July 15, 2021 /MarketersMedia/ —
Global Automotive Biometrics Market size is forecast to reach $1,650 million by 2026, estimated to grow at a CAGR of 13.1% during 2021-2026. The changing automotive industry is leading to the major automakers to bring innovative technology and provide high personalized vehicle experience. The demand for electric and driverless cars, and increased applications of sensor-based technology are highly enhancing the Automotive Biometrics. The rising usage of text to speech and Natural language processing based technology in addition to biometrics will drive the market growth. Moreover, the upcoming IRIS recognition and facial recognition system will highly boost the authentication system in the vehicles which will provide growth opportunities for the Automotive Biometrics market. In addition, the growing development in the fingerprint recognition technology, Facial recognition and voice recognition technology will lead to surge the growth of the market during the forecast period 2021-2026.
Automotive Biometrics Market Segment Analysis - By Authentication Type
Fingerprint Recognition System held the largest market share in the Biometric Vehicles Access System market in 2020 accounting for 28.2% share. With the growing advent in technology, the automotive sector is leading to integrate fingerprint recognition technology for improving vehicle safety which has driven the growth of this segment. The adoption of fingerprint and facial recognition technology will lead to provide low cost authentication system which allows drivers to unlock and start cars without any hassle. This technology is majorly based on customized setting of an individual driver that leads to avoid the risk of vehicle theft. This significant factors has enhanced the fingerprint recognition system in vehicle which will boost the growth of the market.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=502034
Report Price: $4500 (Single User License)
Automotive Biometrics Market Segment Analysis - By Vehicle Type
Passenger Vehicles dominate the market in 2020 with a share of 61.2% in 2020 as a result of growing adoption in luxury vehicles. Vehicle access control remains the major market for fingerprint and facial recognition in passenger vehicles. The need for improved security and personalized vehicles have been a major driver for market growth. Automotive companies are looking at methods to differentiate their vehicles and biometrics have been utilized as a major sticking point in this regards.
Automotive Biometrics Market Segment Analysis - By Geography
In 2020, Europe dominated the Automotive Biometrics market with a share of more than 47.8%, followed by North America and Asia Pacific. The increasing sales of passenger cars in this region are highly escalating the growth of the market. The deployment of electric vehicles and the availability of major automakers such as Ford, Mercedes, Volkswagen and BMW are highly enhancing the Automotive Biometrics market as these higher end vehicles are more likely to adopt vehicle biometrics.
Automotive Biometrics Market Drivers
Growing demand for Connected Vehicles
The rising popularity of connected cars in the recent time are highly fueling the market for advanced technologies including IoT, AI, machine learning and so on. Moreover, the demand for self-driving autonomous cars in order to provide comfort and convenience to the driver are highly propelling the connected car technology. On the other hand the deployment of Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) technology for enhanced mobility communication are propelling the Automotive Biometrics market during the forecast year.
Deployment of Information Technology
The deployment of advanced information technology such as human-machine interface (HMI), Passenger window touchscreens and so on are highly triggering the market growth. In addition, the deployment of iris recognition technology will create growing opportunities for the Automotive Biometrics. The HMI is also allowing the driver’s dashboard to work like an iPad that uses voice activated interface to browse information from cloud. These advantageous features will enhance the automotive industry thus fostering the market growth.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=502034
Automotive Biometrics Market Challenges
Cyber Security Risk
The Automotive Biometrics includes the use of advanced technology covering sensors, cameras and other connected technology. The increasing use of connectivity and connected devices accelerate the risk related to cyber security. The use of connected devices leads to the generation of data that includes the personal details of the passenger which may be manipulated by the hackers. This key factor thus makes difficulty for the automakers to adopt to new technologies which also incurs high cost.
Automotive Biometrics Market Landscape
The market of Automotive Biometrics has been consolidated by the major players – Fingerprint Cards Ab, Fujitsu Ltd., Hitachi Ltd. Methode Electronics, Nuance Communication, Safran SA, Synaptics Incorporated, VOXX International, Voicebox Technologies and Denso Corporation.
Acquisitions/Technology Launches
In March 2021, a patent filed from Samsung depicting a fingerprint biometric vehicle ignition system has been published by the U.S. Patent and Trademark Office (USPTO). The application suggests a fingerprint sensor embedded in an automobile’s steering wheel could be used, possibly in combination with the driver’s smartphone as a physical secondary authentication factor, to start the vehicle.
In January 2019, Hyundai Motor Corp. developed an enhanced biometric system for cars which helps drivers to unlock and start engine with light touch. Moreover, Hyundai’s fingerprint recognition technology permits only the authorized drivers to start and stop the car, in order to reduce the risk of vehicle theft.
Key Takeaways
In 2020, the Automotive Biometrics market was dominated by Europe owing presence of major automakers such as Ford, Mercedes and so on leading to the development of efficient connected vehicles enhancing the demand for latest authentication technology.
The growing use of fingerprint recognition system for authentication in order to reduce the risk of vehicle theft and improve vehicle safety are surging the growth of the Automotive Biometrics market.
The increasing demand for connected vehicles and the deployment of information technology such as human machine interface and passenger window touchscreens are highly accelerating the growth of the market.
The increasing use of connected devices in the vehicles will lead to raise the risk of cyber-attacks which will thus hamper the Automotive Biometrics market.
Related Reports :
A. Vehicle Tracking System Market
https://www.industryarc.com/Research/Vehicle-Tracking-System-Market-Research-502030
B. Vehicle Anti-theft System Market
https://www.industryarc.com/Research/Vehicle-Anti-theft-System-Market-Research-501131
For more Automotive Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
Contact Info:
Name: Venkat Reddy
Email: Send Email
Organization: IndustryARC
Phone: (+1) 970-236-3677
Website: https://www.industryarc.com/
Source URL: https://marketersmedia.com/automotive-biometrics-market-size-forecast-to-reach-1650-million-by-2026/89036465
Source: MarketersMedia
Release ID: 89036465
