The global automotive biometrics market is segmented on the basis of technology, vehicle type, and region.
PORTLAND, OR, USA Jan 12, 2022 /EINPresswire.com/ – Automotive Biometric Market Overview:
The global automotive biometrics market was valued at $ 476 million in 2017 and is expected to reach $ 1,128 million by 2024, with a CAGR of 12.0% from 2018 to 2024. Automotive biometrics is an electronic device in use for identification and authentication in vehicles for a number of applications mainly, vehicle access, ignition switch, vehicle immobilizer, rationalization and health monitoring. Biometric systems can take any form such as fingerprint scanner, facial recognition, voice recognition and others.
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The companies covered by this report study:
• HITACHI, LTD.
• FUJITSU LIMITED
• NUANCE COMMUNICATION
• VOXX INTERNATIONAL CORPORATION
• SAFRAN SA
• BUILT-IN SYNAPTICS
• ASSA ABLOY AB (HID GLOBAL CORPORATION)
• BIOENABLE TECHNOLOGIES PVT. SARL
• AB FINGERPRINT CARDS (PUBL)
• METHOD ELECTRONICS, INC.
The global automotive biometrics market is segmented on the basis of technology, vehicle type, and region. By technology, the market is divided into fingerprint scanning, voice recognition, facial recognition, and others. Based on the type of vehicle, it is divided into passenger cars and utility vehicle. Based on region, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Increased need for security
A major factor driving the growth of the automotive biometric vehicle access systems market is the high rate of accuracy as it demands biological evidence such as scanning of fingerprints, face and others thereby increasing the level of security. The biometric access system does not require passwords, which makes it difficult to hack or theft. In addition, hackers cannot easily retrieve passwords because access is given on recognition of the owner. In addition, the biometric systems of vehicles are easier and faster in terms of the pace of operation. Some automakers such as Ford, BMW, Mercedes-Benz and Volkswagen are planning to integrate the biometric system into cars for the safety and convenience of customers.
Developments in emerging markets
The need for better security management affects both developed and developing economies to protect against unknown entities such as theft or other disruptive activities. Major players in biometric technology are trying to gain a foothold in emerging markets
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• This study includes an analytical description of the global automotive biometric market with current trends and future estimates to describe impending pockets of investment.
• The overall market potential is determined to understand profitable trends to gain a stronger foothold.
• The report presents information related to the main drivers, constraints and opportunities with a detailed impact analysis.
• The current market is analyzed quantitatively from 2018 to 2024 to compare financial competence.
• Porter’s Five Forces Analysis illustrates the power of buyers and suppliers in the industry.
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