It is expected that the worldwide biometric market demand for vehicle access will be high in the next five years. In considering this demand, we provide the latest industry report that provides a complete industry analysis, market perspective, size, growth and forecasts through 2024. This report will help analyze current and future business trends, sales and income forecasts.
The biometric vehicle access market in Europe will acquire the maximum participation due to the presence of important car manufacturers such as Ford, Mercedes, Volkswagen and BMW. The increase in the production of passenger cars due to the growing need for safety features will increase the biometric vehicle access market revenues during the forecast period.
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According to the vehicle, the industry is classified in PCV, LCV and HCV. The growing demand for sedans, hatchbacks, SUVs and electric cars will support the generation of PCV revenues. Growth in the commercial car segment is driven by growing safety concerns with respect to freight and transported cargo.
Depending on the application, the market for access to biometric vehicles is divided into doors, steering wheels, mirrors and on board. The biometric access of the doors will dominate the industry in general during the forecast period, as it is crucial for safety and provides a first access to the vehicle. Efforts to increase driver control over automobiles will support the adoption of the market share of biometric access on the steering wheel from 2017 to 2024.
The Asia Pacific biometric vehicle access market will exhibit the highest growth rate supported by the escalating demand for premium passenger cars. China leads the global electric vehicle industry and is expected to continue its dominance for EV during the planned time. The positive outlook for electric and hybrid passenger cars in China and Japan will increase the share of revenues. The frequent occurrence of instances of theft that require improved security will support regional growth during the forecast period.
Design standards such as Bio API allow the system to efficiently register and verify the identity of the owner. The continuous updating of the technology encourages the growth opportunity for manufacturers to provide a reliable and efficient authentication system. Reducing the cost of manufacturing and installing the system is the main challenge for industry participants. The electronic components and the complexity of the design increase the cost of the general system, which leads to less adoption among cost-sensitive consumers.
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Technological advances for rapid authentication and an easy-to-use high-level protection system will increase the market demand for biometric vehicle access during the forecast period. The design standards specified by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) ensure the operation of the system, which translates into better performance. However, concerns regarding the security of the owner's data and the threats arising from the increase of the electronic component in the car will restrict the biometric vehicle access market. System dysfunction resulting in system failure and false authentication will limit the adoption of technology during the forecast period.
Based on authentication, the biometric vehicle access market is classified into facial recognition, fingerprint recognition, iris recognition and hand geometry systems. The fingerprint technology has the maximum participation due to its simplified operation. In addition, major car manufacturers, such as Mercedes-Benz, Volkswagen, which implement fingerprint authentication in their premium and luxury cars, will increase demand. It is likely that the adaptation of the iris recognition system will grow due to better safety and reliability.
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The main manufacturing companies in the biometric vehicle access market are Synaptics, Techshino, Miaxis, BioEnable, BIODIT, Denso, EyeLock, FPC, Nymi Sonavation, Fujitsu, IriTech, KeyLemon, NEC, Nuance, Safran, Olea Sensor Networks, HID Global, VOXX.