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Revenues from Biometric Vehicle Access System Market to top USD 0.85 billion by 2021

05-31-2019 11:02 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Markets and Markets

According to the market research report Biometric Vehicle Access System Market by Authentication type (Fingerprint, Voice), Future Technology (Iris Recognition System), Vehicle Type (Passenger Car, Battery Electric Vehicle), and Region - Global Forecast to 2021. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021. During this research study, major players operating in the biometric vehicle access system market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions.

The overall biometric vehicle access system market is expected to grow from USD 0.44 billion in 2016 to USD 0.85 billion by 2021, at a CAGR of 14.06% from 2016 to 2021.

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Iris recognition systems: A promising market due to increased demand for safety features

The asia-pacific market is projected to have the largest market share in iris recognition systems by 2025. Growing development in advanced technologies and rising vehicle production is a contributing factor for this growth. The growing demand for safety features as a result of government regulations has triggered the market for biometric vehicle access systems.

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Europe: Largest market for biometric vehicle access systems

Europe is estimated to account for the largest share, in terms of value, of the biometric vehicle access system market in 2016. Major OEM’s like Mercedes-Benz, BMW, Ford, and Volkswagen are developing these range of technologies and innovating in different ways to strengthen the security of the vehicle. The automotive industry in Europe has the most advanced technologies in comparison to Asia-Pacific or North American regions.

Browse and in-depth TOC on Biometric Vehicle Access System Market
69 - Tables
54 - Figures
133 – Pages

The fingerprint recognition system is estimated to account for the largest share in the biometric vehicle access system market. The fingerprint recognition system is more widely present in the market as compared to the voice recognition system for vehicle access. Biometric vehicle access systems are still in a growing phase. Additionally, increasing industry-wide standards such as the BioAPI would trigger growth in the biometric vehicle access system market.

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Biometric Vehicle Access System Market Key Players

The report analyzes all major players in the biometric vehicle access system market, including Safran S.A (France), Hitachi Ltd. (Japan), Fujitsu Ltd. (Japan) and Nuance Communications (U.S).

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