Market Insights
Automotive Biometric Market is likely to witness a promising CAGR of 17.5% during the forecast period.
What is a biometric system?
A biometric system is an essential system that is used in automobiles for biometric identification and authentication. Its purpose is to provide vehicle safety and is used in a variety of applications such as vehicle immobilizers, health monitoring, and biometric car access. Due to the increasing number of vehicle thefts, biometric automotive security has become a critical concept in the automotive industry.
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Automotive Biometric Market – Snapshot
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Growth
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17.5% for the next five years
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Major Type
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Fingerprint Scan
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Major Vehicle Type
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Commercial Vehicles
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Major Application Type
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Vehicle Security System
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Region with the highest demand
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Asia-Pacific
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Key Players
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Fingerprint Cards AB, Fujitsu Ltd, Hid-Global, Hitachi Ltd, Methode Electronics, Nuance Communications, Safran S.A, Synaptics Incorporated, Voicebox Technologies and VOXX International.
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Market Dynamics:
Emerging concerns about safety and security, as well as an increase in sales of EVs and luxury vehicles, is driving the growth of the market. Increasing sales of electric vehicles as a result of government subsidies and schemes, as well as rising environmental awareness is supporting the market growth. Grants, subsidies, and improved charging stations for EVs are examples of government initiatives that aid in the adoption of electric vehicles. The automotive biometric market is expected to be driven by the increasing sales of electric vehicles during the forecast period.
Segment Analysis
Type
The market is segmented as fingerprint scan, voice recognition, face recognition, and others. Among these, the fingerprint scan segment held the largest market share in 2021 and is expected to maintain its dominance during the forecast period. The automotive industry is pioneering the use of fingerprint recognition technology to improve vehicle safety, which has fueled the growth of this segment.
Vehicle Trends
The vehicle type, market is segmented as passenger cars and commercial vehicles. Commercial vehicles are expected to grow rapidly in the market due to factors such as increasing demand for comfort, safety, and automatic features. Furthermore, the growing demand for commercial vehicles in the tourism, logistics, manufacturing, and processing sectors is expected to drive the demand for automotive biometric systems in commercial vehicles.
Application Trends
The application type, of the market is segmented as vehicle security systems, driver safety systems, advanced steering and infotainment, and others. The growing number of vehicle and fuel theft cases necessitates the installation of vehicle security systems. The increasing technological advancements in vehicle safety features such as biometrics, GPS, fingerprint sensors, cameras, and RFID are expected to drive the demand for vehicle security systems during the forecast period.
Region Analysis
Asia-Pacific is estimated to be the leading region in the market during the forecast period. The region offers significant growth potential for the automotive biometric market due to the high demand for vehicles in countries such as China, Japan, India, and South Korea. As automotive biometric systems are used to identify and authenticate vehicles in order to improve vehicle safety and comfort, the automotive biometric market is expanding in tandem with the region's increasing vehicle sales.
Market Scope & Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The automotive biometric market is segmented into the following categories
By Type:
- Fingerprint Scan
- Voice Recognition
- Face Recognition
- Others
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Application Type:
- Vehicle Security System
- Driver Safety System
- Advanced Steering and Infotainment
- Others
By Region:
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Key Players
Some of the key players in the automotive biometric market are-
- Fingerprint Cards AB
- Fujitsu Ltd
- Hid-Global
- Hitachi Ltd
- Methode Electronics
- Nuance Communications
- Safran S.A
- Synaptics Incorporated
- Voicebox Technologies
- VOXX International.
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Report Customization Options
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation by any one of the types by application type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
