PUBLISHER: BIS Research | PRODUCT CODE: 1382601
PUBLISHER: BIS Research | PRODUCT CODE: 1382601
“The Europe Ultra-Wideband (UWB) Technology-Based Vehicle Access Control Market (excluding U.K.) Expected to Reach $118.7 Million by 2031.”
The Europe ultra-wideband technology-based vehicle access control market (excluding U.K.) was valued at $29.5 million in 2022, which is expected to grow at a CAGR of 16.72% and reach $118.7 million by 2031. Automakers in Europe are prioritizing the integration of car access based on ultra-wideband technology in their forthcoming models, a response to the growing worldwide awareness and increased usage of this technology in developed nations. Prominent automobile manufacturers, like Mercedes, BMW, General Motors, and others, have already started offering car access systems that utilize ultra-wideband technology in recent times. In the near future, it is expected that market expansion will be driven by original equipment manufacturers' (OEMs) change in focus towards the development of vehicle access controls using ultra-wideband technology.
|KEY MARKET STATISTICS|
|Forecast Period||2022 - 2031|
|2022 Evaluation||$29.5 Million|
|2031 Forecast||$118.7 Million|
The vehicle access control market driven by ultra-wideband technology is expected to have a significant impact on both the European automotive industry and the overall economy. When it comes to providing more convenient and safe car entry, these solutions could be a major differentiator for automakers looking to improve the user experience. We predict that European automakers will invest significantly more in ultra-wideband (UWB) technology, which will result in a greater use of UWB systems in automobiles. Compared to conventional keyless entry systems, ultra-wideband technology provides a better level of protection since its sophisticated security features make it difficult to intercept or jam UWB signals. It is anticipated that the use of UWB-based vehicle access control systems will lessen the number of cases involving car theft. An illustrative example is BMW, which introduced the BMW Digital Key Plus with ultra-wideband technology in January 2021 for the BMW iX, providing customers with a secure and straightforward keyless entry system.
Passenger vehicles are currently credited with the highest share of the demand for ultra-wideband technology. Some key factors that have enabled the technical acceptance of these vehicles are high demand, higher registration of passenger cars, and less operating difficulty as compared to commercial vehicles. The need for passenger vehicles is growing due to the demand for heavy and luxury vehicles and an increase in the number of cars driven by diesel engines. Additionally, increased population, urbanization, and disposable income have significantly increased passenger vehicle production.
The biometric segment accounts for the largest market. The combination of biometric and UWB technologies for vehicle access can provide a highly secure and convenient solution for keyless entry systems in vehicles. Biometric technology can verify the user's identity, while UWB technology can ensure that the user is physically present in the correct location. If the user's identity is verified and their location is confirmed, the vehicle's access control system could automatically unlock the doors, allowing the user to enter the vehicle. Overall, combining biometric and UWB technologies for vehicle access control can provide a seamless and secure user experience while offering enhanced protection against vehicle theft and unauthorized access.
The hardware segment accounts for the largest market. Ultra-wideband (UWB) technology-based vehicle access systems use short-range radio waves to communicate between the vehicle and the access device. These systems require specific hardware components to operate. The UWB chip is the heart of the UWB system and is responsible for transmitting and receiving data; the control module manages the UWB system's functions and is usually located inside the vehicle. The access device is used to communicate with the UWB system and is generally located outside the vehicle.
The TWR segment accounts for the largest market. Two-way ranging is used in ultra-wideband (UWB) technology-based vehicle access systems to determine the distance between the vehicle and the access device. This technique uses time-of-flight measurements to calculate the distance based on the time it takes for a signal to travel from the vehicle to the access device and back again. Two-way ranging in UWB technology-based vehicle access systems has several advantages. It provides accurate distance measurement with sub-centimeter precision, which is critical for ensuring secure and reliable vehicle access.
Product/Innovation Strategy: The product segment helps the readers understand the different types of ultra-wideband technology. Furthermore, the study provides the readers with a detailed understanding of the Europe ultra-wideband technology-based vehicle access control market based on application and product.
Growth/Marketing Strategy: To improve the capabilities of their product offerings, players in the Europe ultra-wideband technology-based vehicle access control market are developing unique products. The readers will be able to comprehend the revenue-generating tactics used by players in the Europe ultra-wideband technology-based vehicle access control market by looking at the growth/marketing strategies. Other market participants' tactics, such as go-to-market plans, will also assist readers in making strategic judgments.
Competitive Strategy: Players in the Europe ultra-wideband technology-based vehicle access control market analyzed and profiled in the study include vehicle manufacturers that capture the maximum share of the market. Moreover, a detailed competitive benchmarking of the players operating in the Europe ultra-wideband technology-based vehicle access control market has been done to help the readers understand how players compete against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, collaborations, and mergers and acquisitions are expected to help the readers understand the untapped revenue pockets in the market.
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.