The latest research study “Automotive Biometric Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive biometric market reached a value of US$ 735.6 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,793.10 Million by 2027, exhibiting a CAGR of 15.20% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Automotive biometric refers to an electronic device that is utilized for identification and authentication in vehicles. It is a user-friendly, reliable, and convenient identification and monitoring method. The system is based on behavioral and psychological characteristics used to verify and recognize manual access. Automotive biometric finds application in vehicular access, ignition switch, vehicle immobilizer, rationalization, and health monitoring. It is available in the form of a fingerprint scanner, facial recognition, voice recognition, iris recognition, and palm recognition. Automotive biometric also collects data from various vehicle components to monitor the stress and anxiety of the driver and ensure their comfort and safety.
AUTOMOTIVE BIOMETRIC MARKET TRENDS AND DRIVERS:
The global automotive biometric market is primarily driven by the significant growth of the automotive industry. The increasing concern of individuals about vehicle safety and security is also propelling the product demand.
Nowadays, car rental agencies rely on vehicles with automotive biometric to streamline transactions, which is facilitating market growth across the globe. In addition, insurance companies are offering substantial discounts to vehicles with biometric systems, which provide safe remote start-ups, in-car payments, hands-free features, automatic present adjustments, and myriad passenger safety benefits.
Furthermore, technological advancements, such as the integration of artificial intelligence (AI), the Internet of Things (IoT), and cloud connectivity, are anticipated to positively impact market growth in the upcoming years.
|Automotive Biometric Market Report Scope|
|Market size value in 2021||US$ 735.6 Million|
|Market forecast in 2027||US$ 1,793.10 Million|
|Growth Rate||CAGR of 15.20% from 2022 to 2027|
|Base year for estimation||2021|
Global Automotive Biometric Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
- 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
- VOXX International Corporation
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THE REPORT HAS SEGMENTED THE MARKET ON THE BASIS OF REGION, TECHNOLOGY, VEHICLE TYPE, SALES CHANNEL AND APPLICATION.
Breakup by Technology:
- Fingerprint Scan
- Voice Recognition
- Facial Recognition
Breakup by Vehicle Type:
- Passenger Car
- Commercial Vehicle
Breakup by Sales Channel:
Breakup by Application:
- Vehicle Security System
- Driver Safety System
- Advanced Steering and Infotainment
Breakup 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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Key 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
- Comprehensive 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 a part of the customization.
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