The global automotive biometrics market reached a value of US$735.6 million in 2021. Looking ahead, IMARC Group expects the market to reach a value of US$1,793.10 million by 2027presenting a 15.20% CAGR during the period 2022-2027.
Automotive biometrics refers to an electronic device used for identification and authentication in vehicles. It is a user-friendly, reliable and practical method of identification and monitoring. The system is based on behavioral and psychological characteristics used to verify and recognize manual access. Automotive biometrics finds application in vehicle access, ignition switch, vehicle immobilizer, streamlining and health monitoring. It is available as a fingerprint scanner, face recognition, voice recognition, iris recognition, and palm recognition. Automotive biometrics also collect data from various vehicle components to monitor driver stress and anxiety and ensure driver comfort and safety.
Automotive Biometrics Market Trends and Drivers:
The global automotive biometrics market is mainly driven by the significant growth in the automotive industry. The increasing concern of individuals regarding the safety and security of vehicles is also propelling the demand for the products.
Nowadays, car rental agencies rely on vehicles with automotive biometrics to streamline transactions, which facilitates market growth across the globe. Additionally, insurance companies are offering substantial discounts to vehicles equipped with biometric systems, which provide secure remote starts, in-car payments, hands-free features, automatic present adjustments, and a myriad of benefits for the passenger safety.
Furthermore, technological advancements, such as the integration of Artificial Intelligence (AI), Internet of Things (IoT), and cloud connectivity are expected to have a positive impact on the growth of the market in the coming years.
Analysis and segmentation of the global automotive biometrics market 2022-2027:
The competitive landscape of the market has been studied in the report along with the detailed profiles of key players operating in the market.
Aware Inc., BioEnable Technologies Pvt. Ltd., Continental AG, Fingerprint Cards AB, Fujitsu Limited, Hitachi Ltd., IriTech Inc., Methode Electronics Inc., Precise Biometrics AB, Shenzhen Goodix Technology Co. Ltd., Synaptics Incorporated and VOXX International Corporation.
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The report has segmented the market based on region, technology, vehicle type, sales channel and application.
Breakdown by technology:
• Fingerprint scanning
• Speech Recognition
• facial recognition
Breakdown by type of vehicle:
• Passenger car
• commercial vehicle
Breakdown by sales channel:
• Secondary market
Breakdown by application:
• vehicle security system
• Driver safety system
• Advanced steering and infotainment
Breakdown by region:
• North America: (United States, Canada)
• Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Main highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market drivers and success factors
• SWOT analysis
• Value chain
• Complete mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
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