iCrowdNewswire Dec 4, 2020 9:00 AM ET
Global Biometric Vehicle Access System Market size is forecast to reach $1,560 million by 2025, estimated to grow at a CAGR of 13.7% during 2020-2025. 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 biometric vehicle access system. Moreover, the upcoming IRIS recognition system will highly boost the authentication system in the vehicles which will provide growth opportunities for the biometric vehicle access system market. In addition, the growing development in the fingerprint recognition technology and voice recognition technology will lead to surge the growth of the market during the forecast period 2020-2025.
Authentication Type – Segment Analysis
Fingerprint Recognition System held the largest market share in the Biometric Vehicles Access System market in 2019. 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 recognition technology will lead to provide low cost authentication system which will 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.
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Geography – Segment Analysis
In 2019, Europe dominated the Biometric Vehicle Access System 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 biometric vehicle access system market.
Drivers – Biometric Vehicle Access System Market
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 the biometric vehicle access system 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 biometric vehicle access system. 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.
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Challenges – Biometric Vehicle Access System Market
Cyber Security Risk
The biometric vehicle access system includes the use of advanced technology that includes 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.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Biometric Vehicle Access System market. In 2019, the market of Biometric Vehicle Access System 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.
In 2018, Fingerprints Cards AB launched its first AEC-Q100 compliant biometric capacitive fingerprint sensor, which meets the automotive industry standards. This launch has provided certain benefits to the automotive industry and has provided with enhanced security and convenience to the vehicle and the passenger.
In December 2018, 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.
In 2019, the Biometric Vehicle Access System 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 biometric vehicle access system 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 biometric vehicle access system market.
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