The latest report by IMARC, titled “Automotive Biometric Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global automotive biometric market reached US$ 735.6 Million in 2021. Automotive biometrics refer to electronic devices used for authentication and identification in vehicles for vehicular access, vehicle immobilizer, ignition switch, rationalization, and health monitoring. They depend on biological characteristics, such as retinal and fingerprint scans and facial and voice recognition, for verification, thus reducing theft cases and increasing the security of vehicles. They also collect data on the accelerator, steering wheel, and other components to observe the anxiety and stress level of the driver and ensure his comfort along with his safety. In recent years, automotive biometrics have gained momentum due to the dependence on car rentals on automobiles with automotive biometrics to streamline transactions.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will further be integrated into the report.
Global Automotive Biometric Market Trends:
One of the primary factors driving the market is the increasing integration of biometric technology in automobiles. Additionally, the rising need for safety and developments in the upcoming markets is creating a positive market outlook. Other than this, there is a surge in demand for automotive biometrics as insurance companies are offering a substantial discount on vehicles with biometric systems due to their automatic preset adjustments, safe remote start-ups, hands-free features, and myriad passenger safety benefits. Besides this, the augmenting demand for autonomous vehicles with advanced technologies, such as artificial learning (AI), the Internet of Things (IoT), and machine learning (ML), is positively influencing the market growth. Furthermore, vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) technology for improving mobility communication is continually rising. This, along with the growing utilization of the human-machine interface (HMI), enabling the driver’s dashboard to work as an iPad while using the voice-activated interface to browse data from the cloud, is strengthening the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,793.10 Million by 2027, expanding at a CAGR of 15.20% during the forecast period (2022-2027).
- Based on technology, the market has been divided into fingerprint scan, voice recognition, facial recognition, and others.
- On the basis of the vehicle type, the market has been bifurcated into passenger car and commercial vehicle.
- Based on the sales channel, the market has been segregated into OEMs and aftermarket.
- On the basis of the application, the market has been segmented into vehicle security system, driver safety system, advanced steering and infotainment, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some 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.
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