Market Research Report
Automotive Biometric Market: Current Analysis and Forecast (2021-2027)
|Automotive Biometric Market: Current Analysis and Forecast (2021-2027)|
Published: December 1, 2021
UnivDatos Market Insights Pvt Ltd
Content info: 263 Pages
Delivery time: 1-2 business days
Automotive Biometric is expected to witness CAGR growth of more than 34% during the forecast period 2021-2027. Ever changing automotive industry is propelling the major automakers to equipped vehicles with innovative technology to offer high personalized vehicle experience. Rising demand for electric and driverless cars paired with growing adoption of sensor-based technology in the vehicles are enhancing the demand for Biometric technology in automotive sector. Furthermore, rising usage of text to speech and Natural language processing-based technology along with biometrics is expected to drive the market in near future. Moreover, with upcoming IRIS recognition and facial recognition technology which is expected to boost the authentication system in the vehicles would provide ample growth opportunities for the Automotive Biometrics suppliers operating in the market. Furthermore, growth in the number of vehicle theft is further expected to increase the demand with biometric system for vehicle security. In 2018, New Zealand had the highest car theft rate worldwide, with 1,172 occurrences per 100,000 inhabitants. Other countries with the highest car theft rate were Uruguay, Italy, and the United States.
Insights Presented in the Report
"Amongst Type, Software segment would witness significant growth"
Based on Component, the Automotive Biometric Market is segmented into Hardware, Software. Currently, hardware segment is expected to dominate the market, however the software segment is expected to witness significant growth during the analysis period. As per the Credit Suisse, global shipment of fingerprint sensing systems increased by 200 million units in the last 3 years and is expected to reach more than 1.1 billion units in 2020.
"Amongst Technology, Fingerprint recognition segment dominates the market in 2020"
Based on Technology, the Automotive Biometric Market is bifurcated into Fingerprint recognition, Voice recognition, Iris recognition, Facial recognition. In 2020, Fingerprint recognition segment dominated the market with more than 80% share and is expected to maintain its dominance throughout the forecast period. However, Voice recognition, Iris recognition segments are expected to witness increased adoption during the forecast period.
"Amongst Sensor Type, CMOS Fingerprint Sensors dominates the market"
Based on Sensor type, the Automotive Biometric Market is bifurcated into Optical Sensor, Retinal Sensor, CMOS Fingerprint Sensors. CMOS Fingerprint Sensors dominates the market. With the ongoing advancement of technology, the automotive sector is leading the integrate fingerprint recognition technology for improving vehicle safety, this is expected to drive the market for the segment.
"Amongst Vehicle Type, Passenger Cars segment dominates the market"
Based on Vehicle type, the market is segmented into Passenger Cars, Commercial Vehicle. Currently, biometric system is majorly deployed in passenger cars, owing to its increased adoption in luxury vehicle segment. However, increasing safety and security concern would propel the Commercial Vehicle owners to deploy advanced biometric solutions in their fleet.
"Amongst Sales Channel, OEMs segment dominates the market"
Based on Sales channel, the Automotive Biometric Market is bifurcated into OEMs and Aftermarket. OEMs segment dominated the market in 2020. However, Aftermarket segment is expected to witness significant growth during the forecast period. Growing concern related to safety and security of vehicle and drivers are propelling the automotive OEMs to deploy advanced biometric technology in their vehicle.
"Asia-Pacific is expected to witness significant growth during the forecast period"
For a better understanding of the demand of Automotive Biometric, the market is analyzed for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and Rest of World. Europe dominates the market in 2020, however, Asia-Pacific is expected to witness significant growth during the forecast period. Countries such as China, India, Thailand are expected to be major market for vehicle products, which is expected to drive for demand for technological advanced products in the automotive sector. Some of the major players operating in the market include Robert Bosch, Continental AG, Synaptics Incorporated, OSRAM Licht AG, Nuance Communications, Inc., Fingerprints Cards AB, Hitachi, Ltd., Safran S.A, Fujitsu Limited, IDEX Biometrics.
Reasons to buy this report:
The study includes market sizing and forecasting analysis validated by authenticated key industry experts
The report presents a quick review of overall industry performance at one glance
The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
The study comprehensively covers the market across different segments
Deep dive regional level analysis of the industry
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