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