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Vehicle Access Control Market worth $22.6 billion by 2027| Key Players Denso Corporation (Japan), Valeo (France), Continental AG (Germany), Robert Bosch (Germany), and Nuance Communication (US).

06-10-2019 10:05 AM CET | Tourism, Cars, Traffic

Press release from: MarketsandMarkets™

Vehicle Access Control Market worth $22.6 billion by 2027| Key Players Denso Corporation (Japan), Valeo (France), Continental AG (Germany), Robert Bosch (Germany), and Nuance Communication (US).

According to the new market research report "Vehicle Access Control Market by Biometric (Fingerprint, Face, Iris, Voice), Non-biometric (Stolen Vehicle Assist, Keyless, Immobilizer, Alarm, Steering Lock), Technology (Bluetooth, NFC, RFID, Wi-Fi), type, Vehicle, EV & Region - Global Forecast to 2027", published by MarketsandMarkets™, The global Vehicle Access Control Market is projected to grow from USD 10.8 billion in 2020 to reach USD 22.6 billion by 2027, at a CAGR of 11.2%.

View detailed Table of Content here - www.marketsandmarkets.com/Market-Reports/vehicle-access-c...

The growth of the Vehicle Access Control Market is influenced by the rising demand for security & safety features, increase in vehicle theft, advanced technological investments in automotive, the growing concern of insurance companies over vehicle theft, and increasing sales of the electric vehicles.

Browse and in-depth TOC on "Vehicle Access Control Market"
58 - Tables
67 - Figures
161 - Pages

Download PDF Brochure @ www.marketsandmarkets.com/pdfdownloadNew.asp?id=266613080

Passenger car is expected to be the largest market

The passenger car segment is expected to be the largest market during the forecast year due to the adoption of advanced features in passenger cars such as keyless entry, immobilizer, stolen vehicle assist, and alarm. Increasing vehicle theft is one of the primary reasons for OEMs to pre-install vehicle access control systems. According to the Insurance Information Institute (III), there were 773,139 vehicles stolen in 2017, up by 0.8% from 767,290 vehicles in 2016. One motor vehicle theft was reported every 40.9 seconds in the United States in 2017. The contribution of non-biometric systems has increased significantly in automotive as all basic models are offering non-biometric systems in passenger cars in the developed countries such as US, Germany, UK, France, Canada, Spain, and Japan.

Biometric system is expected to lead the Vehicle Access Control Market

Although, PCs and LCVs are equipped with basic security features like anti-theft alarms and immobilizers, the upcoming advanced features, especially in premium cars, are demanding biometric systems to make access more convenient for the driver and provide multiple authentications. The personalization offered by biometric systems in cars favors the demand for safety and security in the future. Fingerprint recognition is the most researched and ready to launch feature today in PCs. The first car to get the fingerprint access will be Hyundai Santa Fe (for China market first), and this feature will most likely come down the stream and find itself on a range of vehicles in the coming few years.

The Asia Pacific is expected to be the fastest growing market during the forecast period

The Asia Pacific market is the largest because of the growth in China, Japan, and South Korea. Rising vehicle production, increasing demand for luxury vehicles, growing sales of electric cars, and high technological development in the region are driving the Vehicle Access Control Market in the Asia Pacific. Companies such as KIA, Aptiv, Nissan, and Hyundai are the major players present in the region. The digitalization in the region also drives growth. For instance, China will be the first country to test fingerprint and face recognition in the upcoming years. OEMs are collaborating with biometric manufacturers to implement these systems for car authentication. For example, in March 2019 Hyundai invested USD 5 million in China’s Deep Glint, a Chinese startup specializing in computer vision technology utilizing artificial intelligence.

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The global Vehicle Access Control Market is dominated by major players such as Denso Corporation (Japan), Valeo (France), Continental AG (Germany), Robert Bosch (Germany), and Nuance Communication (US).

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Research Insight: www.marketsandmarkets.com/ResearchInsight/vehicle-access-...
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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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