Press release
Biometric Driver Identification System Market Anticipated to Grow at an Astounding 23.9% CAGR by 2022 | Bayometric LLC, Bioenable Technologies Pvt. Ltd, Continental AG, Denso Corporation
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According to a study by Fact.MR, the global biometric driver identification system market is expected to experience healthy growth. The market is projected to increase to 23.9% CAGR during the forecast period 2017-2022. Owing to the increased safety and comfort features in various car models and increasing awareness towards safety are some of the factors driving the demand for biometric driver identification system. Manufacturers have started developing biometric driver identification system with advanced features that enhance driving experience along with safety.
5 Key Insights on Global Biometric Driver Identification System Market
North America is expected to emerge as the biggest market in the global biometric driver identification system market. North America is estimated to surpass US$ 9,000 million revenues by the end of 2022. North America biometric driver identification system market will witness an impressive growth. Increasing adoption of advanced technologies, growing awareness towards vehicle safety and presence of individuals with high disposable income are some of the factors driving growth in the region.
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Europe is expected to be the second most lucrative market for biometric driver identification system. Due to the government initiatives towards vehicle safety and road safety is one of the reasons for increasing adoption of advanced vehicle safety technology, thereby boosting the demand for biometric driver identification system in Europe.
Compact passenger cars are likely to be the largest deployer of biometric driver identification system. Experiencing healthy growth, compact passenger cars are estimated to bring in nearly US$ 7,700 million revenue towards 2022 end.
Biometric driver identification system is expected to be largely used for engine start-stop system. Engine start-stop system will account for nearly one-third of the revenue share by the end of 2017. Meanwhile, driver fatigue & drowsiness monitoring system in biometric driver identification system is also estimated to witness impressive growth, creating an incremental opportunity of more than US$ 3,500 million during 2017-2022.
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Compared to various technologies in biometric driver identification system, Iris scan technology will likely experience robust growth. Iris scan as biometric driver identification system technology is projected to reach close to US$ 4,000 million revenues by 2022 end.
The report also offers a detailed profile of various key market players in the global market for biometric driver identification system, which will remain active through 2022. These include companies such as Bayometric LLC, Bioenable Technologies Pvt. Ltd, Continental AG, Denso Corporation, Fujitsu Ltd, Gentex Corporation, HID Global Corporation, Hitachi Ltd, Mitsubishi Heavy Industries Ltd, and Robert Bosch GmbH.
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