Selbyville, Delaware, Aug. 15, 2024 (GLOBE NEWSWIRE) --
The automotive biometric market valuation is predicted to exceed USD 3.8 billion by 2032, as reported in a research study by Global Market Insights Inc.
Technological advancements in automotive biometrics for transforming vehicle security and user interaction will drive the industry growth. Of late, automotive systems are integrating facial recognition and fingerprint scanning for seamless access and personalized settings. These technologies are also evolving for improving accuracy, speed, and adaptability to various conditions.
Increasing advancements, such as voice recognition and AI enhancements are further driving the adoption of biometric solutions into automotive design for enhanced safety and convenience, ultimately reshaping the way users interact with their vehicles. For instance, in September 2023, Mastercard and Mercedes-Benz launched an in-car payment partnership for Mercedes drivers in Germany for enabling digital payments via fingerprint at 3,600+ service stations. This collaboration was aimed at integrating automotive biometric technology for enhancing convenience and security for users on the road.
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The automotive biometric market from the palm recognition segment in the automotive biometric industry is projected to expand at a significant growth rate from 2024 to 2032. This is due to the rising prominence of palm recognition technology in automotive biometrics for advancing vehicle security and user convenience. Automotive systems are integrating palm scanners for access control and personalized settings for offering a touchless and secure interaction experience. Moreover, rapid advancements will continue to refine these technologies for enhancing accuracy, speed, and reliability in diverse driving conditions.
The automotive biometric market from the vehicle security system segment is expected to experience significant growth at a substantial CAGR through 2032. The rising deployment of vehicle security systems in automotive biometrics is helping in leveraging advanced technologies to enhance safety and user convenience. The integration of biometric features like facial recognition and fingerprint scanning is leading to secured access and authentication. The strong focus on providing seamless, reliable security measures that adapt to various driving scenarios for ensuring robust protection against unauthorized access and enhancing overall vehicle security standards will add to the segment growth.
Asia Pacific automotive biometric market size may experience robust growth between 2024 and 2032, propelled by the rise in the number of accidents. Biometric technologies like driver monitoring systems and fatigue detection deployed with facial recognition are being integrated into vehicles to mitigate risks. For instance, in November 2023, the Ministry of Road Transport and Highways’ report on 'Road Accidents in India-2022' highlighted an 11.9% increase in accidents. The rising urgency for integrating advanced automotive biometric systems to enhance vehicle safety and mitigate risks on roads will favor the regional industry expansion.
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Some of the top firms engaged in the automotive biometric market include Continental AG, Synaptics Incorporated, Fingerprint Cards AB, Aware Inc., and Shenzhen Goodix Technology Co. Ltd. These market players are coming up with advanced technologies for enhanced vehicle security. For instance, in January 2024, Continental introduced the "Face Authentication Display," a biometric access control system that uses discreetly mounted cameras for user recognition on the vehicle’s B-pillar and driver display for ensuring secure vehicle access and ignition.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024-2032
Chapter 3 Automotive Biometric Market Insights
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Growing focus on driver monitoring and safety
3.8.1.2 Shift toward Advanced Driver Assistance Systems (ADAS)
3.8.1.3 Increasing integration of biometric authentication in vehicles
3.8.1.4 Demand for seamless and convenient user experiences
3.8.1.5 Regulatory push for improved vehicle safety standards
3.8.2 Industry pitfalls & challenges
3.8.2.1 Privacy concerns regarding biometric data collection
3.8.2.2 Potential for system hacking and security breaches
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
