Dublin, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The "Vehicle Access Control - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
In the changed post COVID-19 business landscape, the global market for Vehicle Access Control estimated at US$8.8 Billion in the year 2020, is projected to reach a revised size of US$14.9 Billion by 2027, growing at a CAGR of 7.8% over the period 2020-2027.
Non-Biometric Systems, one of the segments analyzed in the report, is projected to record 7.6% CAGR and reach US$12.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Biometric Systems segment is readjusted to a revised 8.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 10% CAGR
The Vehicle Access Control market in the U.S. is estimated at US$2.3 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$3.1 Billion by the year 2027 trailing a CAGR of 10% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 7.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.7% CAGR.
Market Trends & Drivers
- With OEM Integration of Physical Access Control Systems in Vehicles Linked to Automotive Production Trends, It Pays to Understand Where the Automotive Industry is Heading in 2022 & Beyond
- Recap of COVID-19 Impact on the Automotive Industry in 2020
- Several Downsides Marr Outlook for 2022
- Semiconductor Chip Shortages & Its Induced Production Woes Add to Market Nervousness
- As Automobile Production Recovery Slips On the Original Forecasts, Hit By Chip Shortage Woes, Uncertainty Rips Through the Supply Chain
- Russia-Ukraine War Has the Automotive Industry on Edge
- Rise in Automobile Thefts & the Ensuing Stringent Motor Vehicle Theft Prevention Regulations Spur Demand for Physical Vehicle Access Control Systems
- Keyless Vehicle Access Control Still Remains the Most Widely Used Secure Vehicle Access Control System
- Hack-Proof Keyless Systems Rises in Prominence
- Biometrics Emerges to be the Future of Vehicle Access Control Systems
- Growing Installation of Vehicle Barriers for Controlling Unauthorized Vehicle Access in Restricted Areas Expand the Addressable Market Opportunity for Automated Solutions
- Exhibit 9: % Share Breakdown of Global Installations of Vehicle Entry Access Control Systems in Facilities Worldwide by Facility Type
- Robust Growth in Electronic Tolling (ETC) to Benefit Investments in Vehicle Access Control Deployments
- Focus on RFID Technology for Vehicle Access Control
- Special Focus on ANPR Based Vehicle Access Control
Focus on Select Players (Total 75 Featured)
- Continental AG
- DENSO Corporation
- Fingerprint Cards AB
- HELLA GmbH & Co. KGaA
- HYPR Corp
- Irdeto B.V.
- Johnson Electric Holdings Limited
- Mitsubishi Electric Corporation
- NXP Semiconductors
- Robert Bosch GmbH
- TOKAIRIKA, CO, LTD.
- U-Shin Ltd
- Valeo
- VOXX International Corp.
For more information about this report visit https://www.researchandmarkets.com/r/oab87g
