Global Automotive Biometric Market Analysis (2023 - 2030)
As per our research report, the global Automotive Biometric Market size is estimated to be growing at a CAGR of 16 % from 2023 to 2030.
Biometric systems play a major role in the automotive industry. These electronic devices have features like fingerprint scanners, facial recognition, voice recognition, advanced identification methods, vehicular access, ignition switch control, immobilization, rationalization, dynamically adjusted seat positions, mirror alignment, temperature preferences, and other navigation options. Biometric systems ensure the safety of vehicles. The Automotive Biometric Market is expected to grow significantly in the coming years due to technological advancements and increasing adoption of automotive biometric systems. The rising sales of EV and luxury vehicles, the need for enhanced safety measures, rising adoption of automotive biometric systems in developed countries, technological advancements, growing demand for connected vehicles, and the adoption of AI-based tools are the main drivers for the Automotive Biometric Market.
The COVID-19 pandemic had a significant impact on the Automotive Biometric Market. There were lockdowns and other spreading preventive measures. Supply chain interruptions affected the production and distribution of vehicles equipped with biometric systems. Many European companies, and US and Asia Pacific automakers suspended work. China's car market fell by 79%. The pandemic increased environmental awareness and resulted in high demand for electric vehicles (EVs). The pandemic resulted in technology adoption and integration which ensures security and a secure driving experience. Government regulations and initiatives supported the automotive biometric industry. Post-pandemic the market for Automotive Biometric witnessed an increase in the adoption of AI features.
NEXT Biometrics started a partnership with worldwide facial recognition company Paravision in August 2021, to provide dual authentication techniques both face and fingerprint biometric solutions to consumers. Also, Genesis in September 2021, launched "Face Connect" technology, to detect human faces and control doors without using a smart key.
The restraints to the Automotive Biometric Market mainly include high installation costs, concerns regarding safety and security, and cybersecurity risks.
KEY MARKET INSIGHTS:
- Based on market segmentation by Technology, the Fingerprint Recognition System segment holds the highest share of the market. This is mainly due to increasing vehicle safety. Fingerprint Recognition System helps to reduce the danger of car theft and it is a low-cost authentication system. Facial Recognition segment is the fastest-growing segment during the forecast period. This is mainly due to the security and reliable authentication in which its software recognizes people by looking at their faces mainly eyes, mouths, noses, and ears.
- Based on market segmentation by Vehicle Type, Passenger Cars hold the highest share of the market. It has a global share of more than 60%. This is mainly due to the increasing population and rise in adoption of luxury vehicles. This demands improved security and more personalized vehicles. Commercial vehicle is the fastest-growing segment during the forecast period. This is mainly due to the increasing demand in the processing, manufacturing, and logistics industries. Minivans, trucks, tractors, trailers, coaches, and buses are commonly used commercial vehicles.
- Based on market segmentation by application, the Vehicle Security Systems segment holds the highest share of the market. This is mainly to keep vehicles safe and includes biometrics, GPS location trackers, cameras, radio frequency identification (RFID), fingerprint sensors, and the Internet of Things (IoT) features. These systems have biological and performance measures. Advanced Steering and infotainment is the fastest-growing segment during the forecast period. This is mainly due to the increasing adoption of smart vehicles with luxurious features.
- Based on market segmentation by region, Europe holds the highest share of the market. It has the largest share of 47.8 %. This is due to many factors. The presence of major manufacturers such as Mercedes, BMW, and Volkswagen is driving the market. Deployment of electric vehicles, government, and automotive firms initiatives are boosting the European Automotive Biometrics market. North America is the second largest shareholder of the market. North America is a developed region having technologically advanced Automotive Biometric industries. There is increasing demand for high-end luxury automobiles with high-security features. However, Asia Pacific is the fastest-growing region during the forecast period. This is mainly due to the increasing use of vehicles with biometric systems. In countries like China, India, Japan, and South Korea, the Automotive Biometric Market is growing rapidly. Also, China is one of the largest manufacturers and sellers of electric vehicles across the world.
- Companies playing a leading role in the Global Automotive Biometric Market profiled in this report are – Hitachi, Ltd., Fujitsu Limited, Voxx International Corporation, Nuance Communications, Safran S.A, ASSA ABLOY AB (HID Global Corporation), BioEnable Technologies Pvt. Ltd, Synaptics Incorporated, Fingerprint Cards AB (publ), and Methode Electronics, Inc.
By Technology
- Facial Recognition
- Voice Recognition
- Iris Recognition
- Fingerprint Recognition
- Multimodal Recognition
By Vehicle Type
- Commercial Vehicles
- Passenger Cars
By Application
- Driver Safety Systems
- Vehicle Security Systems
- Advanced Steering & Infotainment
- Others
By Region
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- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
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