Reading time:3 minutes, 19 seconds
This report studies the global Biometric Driver Identification Systems market with a focus on the development of its market over the next six years. The report provides an in-depth analysis of the drivers and restraints influencing the global adoption of this technology. Based on product type, the report covers Multi-Ramp Card Readers (Type 2 & 3). Based on the app, it provides information on the banking and finance industry, retail, healthcare, and government.
The global driver identification system market is expected to reach $8 billion by the end of 2027. Automakers are supporting the use of biometric parameters to identify drivers as individuals and the diversity, safety and automated transmission and diagnostic permissions. Technical advances in driver identification systems enhance the customer experience with automatic security, personalized service and other benefits.
Click on the tab below to benefit from the sample copy of the report
Drivers of the expansion of biometric driver identification systems
Growing demand for mobility, shift from conventional identification techniques to digital authentication, and other factors are driving the global biometric driver identification systems market. Major players operating in this market are BSI AG, Gemalto NV, Thales SA, Finca Biometrics Inc., SafeLink360 Holdings Inc., Vinci Autoliv Group plc, and ZKAZ Corp.
Planned segmentation of biometric driver identification systems
The global biometric driver identification systems market is expected to reach USD 25.05 billion by 2027 and will grow at a CAGR of 11.3% during the forecast period from 2017 to 2027. Biosignatures and facial recognition are expected to dominate the market, contributing over 36% market value share in 2016, with a 452% increase from 2015.
Development segment and market share in 2022
Driver identification systems are an effective security measure for the transportation industry, but their effectiveness can be increased by using biometrics. Driver market size is expected to continue growing in 2027 to reach USD 913 billion, driven mainly by developing countries.
Updated report by product
The global market for biometric driver identification systems is expected to grow rapidly over the next six years. North America and Europe are poised to capture the majority of this market, accounting for more than 50% of global revenue, while Asia-Pacific will supply nearly 10% of the total .
Top 10 Countries Driving Growth in Global Biometrics Markets by 2022
Drivers over the age of 24 are still at risk of having their identities captured by unauthorized persons, as well as having a traffic accident, medical condition or personal preference. Traffic law enforcement requires the presence of an authorized document or other identification card issued by a government organization. There are other risks according to the current processing of fraudulent biometric data such as criminal activities, use of low security personal data, etc., which further increases the demand for biometric solutions to eliminate these risks.
Analysis of the data behind the rankings
There will be a continued increase in the need for governments, the private sector and consumers to know a person by their biometric attributes such as fingerprint or iris. Biometrics are embedded in exponentially growing datasets that can dramatically simplify our daily lives, revolutionizing authentication strategies, customer loyalty, and branding solutions. Biometrics Software Market is expected to grow through 2027 at a CAGR of 26.27% over the forecast period
Click on the tab below for the instant purchase of the report with a flat rate discount of $500
Instant Buy Request
Nowadays, identifying fake drivers is becoming a major challenge for government and law enforcement around the world. The Global Biometric Driver Identification Systems Market Report 2019 by McKinsey and Company provides comprehensive insights into the current market, driving forces and competitive landscape. Major players in the international transportation services sector are expected to invest aggressively in advanced technologies and this technology will enable vehicle manufacturers, maintenance equipment manufacturers as well as suppliers to related industries such as automotive electronics, tires and key replacement services.