Owing to a rising need for better car safety and security, there is a significant degree of the introduction of sophisticated products and services in the industry. Moreover, with a spike in criminal activities, car thefts, rising sales of luxury cars, tech-savvy car drivers, etc., the rate of installation of biometric identification in cars is currently soaring. Car OEMs have been focusing on introducing special features such as locking and unlocking the vehicle, vehicular immobilizer, ignition switch, and health monitoring to gain an edge over their competitors.
Luxury brands such as Ford, BMW, and Volkswagen, etc., are increasingly inclined toward introducing biometric solutions in the vehicles to ensure the vehicle’s safety. Chrysler and Jaguar Land Rover are planning to deploy facial recognition in the cars for better security by 2022.
Moreover, increasing number of connected cars and the prevalence of the Internet of Things in the automotive industry have further fuelled the growth of biometrics in the Global Automotive Biometric Identification System market.
According to MarkNtel Advisors’ research report titled “Global Automotive Biometric Identification System Market Analysis, 2019”, the CAGR of Global Automotive Biometric Identification System market is expected to be around 22% from 2020-25. North America dominated the market, registering the largest market share globally in 2019. Asia-Pacific and the Middle East are anticipated to witness a rise in the demand for biometric identification system on an account of increasing disposable incomes of people, further boosting luxury car sales and enhancing the process of technology adoption. Owing to the presence of a number of OEMs in China and India, the demand is estimated to surge in Asia-Pacific in the coming future.
Wearable Technology is Expected to Boost the Market of Biometric Identification System
Companies are planning to form alliances with wearable manufacturing companies such as BioWatch and Optiwine on innovations in products such as eye wears, watches, and headsets which can have the ability to access the biometric system via Bluetooth or Wi-Fi. With the increasing technological advancements and associated safety concerns, there is an increasing demand for biometric solutions for autonomous driving, and other mobility solutions. SC1 Vision concept cars by an American auto manufacturer, Karma Automotive, have speech recognition and biometric driver and passenger authentication. Ford also won a patent for “Keyless Biometric System” in 2016, which scans retina or voice recognition using the owner’s smartphone and connected to the vehicle via Bluetooth or Wi-Fi. Biowatch and Optiwine are two start-ups engaged in technological innovation in wearable smartwatches that act as an identification proof. Therefore, robust growth is foreseen in the recent years.
According to MarkNtel Advisors, the major leading players in the market are Nissan Motors Co., Ltd, Honda Motor Co., Tesla, Inc, Fiat Chrysler Automobiles N.V., Synaptics Incorporated, Methode Electronics, Voxx International Corporation, Fujitsu Limited, Assa Abloy AB, and Synaptics Incorporated, among others.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Global Automotive Biometric Identification System Market?
2. What are the region-wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Global Automotive Biometric Identification System Market?
4. Who are the key competitors or market players and how they perform in Global Automotive Biometric Identification System Market on the basis of competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Global Automotive Biometric Identification System Market study?