Automotive Biometric Market

Market Overview:

The global automotive biometric market size reached US$ 863 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,048 Million by 2028, exhibiting a growth rate (CAGR) of 14.7% during 2023-2028.

Automotive biometric is an electronic device used to identify and authenticate in vehicles for different applications, such as ignition switch, immobilizer, rationalization, and health monitoring. It relies on biological characteristics like retinal and fingerprint scans and facial and voice recognition for verification, thereby increasing the security of vehicles and minimizing theft cases. It also collects data on the steering wheel, accelerator, and other components to monitor the stress and anxiety level of the driver and ensure his comfort as well as safety. Due to these benefits, car rental agencies nowadays rely on automobiles with automotive biometrics to streamline transactions.

Automotive Biometric Market Trends:

The growing integration of biometric technology in automobiles represents one of the key factors driving the market. Moreover, insurance companies are offering a considerable discount to vehicles with biometric systems as they have a safe remote start-up, in-car payments, hands-free features, automatic preset adjustments and myriad passenger safety benefits. This, along with the increasing collaboration of automotive original equipment manufacturers (OEMs) with wearable companies to collect biometric data, is propelling the growth of the market. In addition, there is a rise in the demand for autonomous vehicles with advanced technologies, such as the internet of things (IoT), artificial learning (AI), and machine learning (ML) across the globe. This, coupled with the increasing utilization of Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) technology for enhancing mobility communication, is offering lucrative growth opportunities to industry players. Besides this, the rising employment of the human-machine interface (HMI), which allows the dashboard of the driver to work as an iPad while using the voice-activated interface to browse data from the cloud, is positively influencing the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive biometric market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, vehicle type, sales channel and application.

Breakup by Technology:

• Fingerprint Scan
• Voice Recognition
• Facial Recognition
• Others
   

Breakup by Vehicle Type:

• Passenger Car
• Commercial Vehicle
   

Breakup by Sales Channel:

• OEMs
• Aftermarket
   

Breakup by Application:

• Vehicle Security System
• Driver Safety System
• Advanced Steering and Infotainment
• Others
   

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
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and VOXX International Corporation.

Report Coverage: