Pleasanton, CA, Nov. 09, 2021 (GLOBE NEWSWIRE) -- The Global Automotive Biometric Market is expected to grow from USD 209 Mn in 2020 to USD 673.7 Mn by 2027, at a CAGR of 18.2%.
The growing safety and security concern among the population is one of the significant factor that drive the demand for automotive biometric market during the forecast period. In the automotive industry, the application of biometrics lies in various areas, which includes access control for stating a vehicle using various biometric scanners, enable personalized vehicles for the users to allow drivers and passengers to call up playlists, contacts, and preferred apps and the application of these biometric in automotive vehicles are expected to increase throughout the forecast period. For the safety and convenience of the customers, some car manufacturers, such as Ford, BMW, Mercedes-Benz, and Volkswagen are planning to incorporate biometric systems into their cars.
The emergence of connected cars is accelerating the market for advanced technologies which includes IoT, AI, machine learning and others. Moreover, the increasing demand for autonomous vehicles is expected to propel the connected car technology. Furthermore, the deployment of Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) technology for enhanced mobility communication are accelerating the automotive biometric market during the forecast period.
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Technological advancements such as Human-machine Interface (HMI), passenger window touchscreens and others are driving the market growth. Moreover, the deployment of iris recognition technology will create developing possibilities for automotive biometrics. The HMI is also allowing the driver’s dashboard to work like an iPad that makes use of the voice-activated interface to browse data from the cloud. These advantageous capabilities is expected to enhance the automotive industry consequently fostering the automotive biometric industry growth during the forecast period.
Automotive biometrics consists of using advanced technology covering sensors, cameras, and other connected technology. The growing use of connectivity and related devices accelerates the threat associated with cyber security. The use of connected devices leads to the generation of data that consists of the personal information of the passenger which can be manipulated by hackers. This key factor makes trouble for the automakers to adapt to new technology which also incurs high costs. Thus, the cyber security risk is one of the major challenges that hamper the growth of the biometric market. However, the adoption of biometric system in developing economies provide a lucrative opportunity for the automotive biometric market growth during the forecast period.
The key players operating in the automotive biometric market are:
Hitachi, Ltd., FUJITSU, Nuance Communications, Inc., VOXX International Corp., SAFRAN, Synaptics Incorporated, HID Global Corporation, BIOENABLE TECHNOLOGIES PVT. LTD, FINGERPRINT CARDS AB, Methode Electronics, IRITECH, INC., ZKTECO CO., LTD., SecuGen Corporation, Continental AG, NEXT Biometrics and Among Others
Global Automotive Biometric Market by Region Outlook (Revenue, USD Million, 2021-2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
In terms of geography, the Asia Pacific region is growing at the highest CAGR during the forecast period owing to the high demand for vehicles in China, Japan, India, and South Korea. The automotive biometric market is growing with the increasing vehicle sales in this region as automotive biometric systems are used to identify and authenticate vehicles for improving vehicle safety and comfort. According to the data from the China Association of Automobile Manufacturers, China is one of the largest manufacturers and sales of EVs across the globe. Thus, rise in the adoption of biometric systems in vehicles.
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The Global Automotive Biometric Industry Segmentation:
Global Automotive Biometric Market by Vehicle Type Industry Outlook (Revenue, USD Million, 2021-2027)
- Commercial Vehicles
- Passenger Car
Global Automotive Biometric Market by Technology Industry Outlook (Revenue, USD Million, 2021-2027)
- Fingerprint Scan
- Voice Recognition
- Facial Recognition
- Others
Global Automotive Biometric Market by Application Industry Outlook (Revenue, USD Million, 2021-2027)
- Vehicle Security System
- Driver Safety System
- Advanced Steering & Infotainment
- Others
Key Findings:
- Based on the technology, face recognition is the fastest-growing segment during the forecast period.
- Based on the application, the vehicle security system in the automotive biometric industry has a significant market share during the forecast period.
- Based on region, The Asia Pacific region is growing at the highest CAGR during the forecast period.
Recent News:
- In Sep 2020, Cerence can partner with BJEV to form tailored, intelligent voice assistant solutions for BJEV's ARCFOX line's initial electrical SUV: T.T. A Cerence Drive answer powers the voice assistant integrates embedded and cloud-based technologies, together with speech recognition, Natural Language Understanding (NLU), Text To Speech (TTS), and Speech Signal Sweetening (SSE).
- In March 2020, Shenzhen Goodix's fingerprint authentication answer for vehicles created its initial public look with its development on Lynk & Co. 05. Lynk & Co. introduces its all-new motorcar SUV with numerous high-tech styles distinctive to the automotive trade.
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