Press release
Global Biometric Market in Automotive Sector to Exhibit 19% CAGR from 2017 to 2021
A recent market research report added to the comprehensive portfolio of MarketResearchReports.biz presents a detailed analysis of the biometric market in the automotive sector. The report, titled “Global Biometric Market in the Automotive Sector 2017-2021,” states that the rising concerns regarding the vulnerability of keyless entry systems in advanced vehicles will be the key factor driving the demand for biometric recognition features in the automotive sector. The market is expected to exhibit a promising 19% CAGR over the period between 2017 and 2021.
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The report states that from a geographical perspective, the market for biometrics in the automotive sector will be dominated by the EMEA (Europe, Middle East, and Africa) regional market in the next few years. Owing to the presence of some of the world’s most prominent automotive manufacturers, including Audi, BMW, Mercedes-Benz, and Volkswagen in Europe and the high demand for premium vehicles from several developed countries in the Middle East, the EMEA region will emerge as the leading contributor of revenue to the global market.
On the basis of technology, the biometric market in the automotive sector has been segmented into fingerprint biometrics, facial recognition, voice recognition, and iris recognition. Of these, the segment of fingerprint biometrics accounted for the dominant share in the market, chiefly owing to the low cost of finger print scanners. Mercedes-Benz, one of the leading manufacturers of premium vehicles, has recently introduced the fingerprint biometric technology in its S-Class models. The technology allows the owner to start the car with the help of fingerprint recognition.
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On the basis of end use, the biometric market in the automotive sector is segmented into consumer vehicles and commercial vehicles. Of these, the segment of consumer vehicles is estimated to be the leading sector, accounting for the dominant share in the global market in 2016. The rising demand from the high-net-worth population for highly sophisticated vehicles with advanced technologies is encouraging automotive companies to manufacture premium vehicles that offer increasingly advanced safety features such as biometric systems. Owing to this trend, the segment of consumer vehicles will continue to be the dominant end-user of biometric systems in the next few years as well.
The vendor landscape of the global biometric market for the automotive industry features the presence of a large number of biometric system manufacturers and is highly competitive. Moreover, automotive OEMs are also focusing on the development of advanced technologies such as biometrics to introduce products capable of serving the rapidly evolving needs of the industry.
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In order to acquire advanced technologies and expand their reach in new areas of application, several biometric companies have started following the course of mergers and acquisition strategies. A recent instance is the acquisition of multispectral fingerprint technology company Lumidigm by HID Global.
Some of the leading companies operating in the global biometric market in the automotive sector are BioEnable, Synaptics, Miaxis, Sonavation, Techshino, EyeLock, Olea Sensor Networks, BIODIT, Fingerprint Cards, VOXX International, Fujitsu, IriTech, HID Global, NEC, KeyLemon, Safran, and Nuance.
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