Press release
Biometric in the Automotive Market 2021 Status and Business Outlook - Synaptics Incorporated, Fingerprint Cards AB, Aware Inc., Cerence Inc
The Biometric in the Automotive Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The global biometric in the automotive market was valued at USD 210.31 million in 2020, and it is expected to reach USD 593.14 million by 2026, registering a CAGR of 19.06% during the period of 2021-2026.
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Top Leading Companies of Biometric in the Automotive Market are Synaptics Incorporated, Fingerprint Cards AB, Aware Inc., Cerence Inc. (Nuance Communications Inc.), Continental AG, Sensory Inc., Shenzhen Goodix Technology Co. Ltd, B-Secur Ltd, EyeLock Inc., Precise Biometrics AB and others.
Industry News and Updates
- September 2020 - Cerence partnered with BJEV to create an intelligent, personalized voice assistant experience with speech-enabled applications for BJEV ARCFOX line’s first electric SUV: ?T. The vehicle’s infotainment experience is powered by the Cerence Drive portfolio. Through Cerence Drive's hybrid architecture, ARCFOX’s T’s voice assistant integrates embedded and cloud-based technologies, including speech recognition, natural language understanding (NLU), text to speech (TTS), and speech signal enhancement (SSE).
- March 2020 - Shenzhen Goodix's fingerprint authentication solution for automobile made its first public appearance with the commercialization on Lynk & Co. 05. Based on the forward-looking trends in automotive applications, Lynk & Co. demonstrates various premium high-tech designs on its all-new coupe SUV.
Key Market Trends
Fingerprint Recognition is Expected to Grow at a Significant Rate
- Fingerprint recognition technology evolved rapidly in the past few years, owing to the increased adoption of mobile devices and its increased adoption of biometric systems. Its application is majorly dominated by security and access control functions. This resulted in the advancements of fast-track technology in this segment, such as in display solutions.
- The increasing rate of adoption of fingerprint sensors across the consumer industries is expected to create significant opportunities for its adoption in the automotive sector. According to Credit Suisse, the global fingerprint sensing shipments are expected to reach about 1.1 billion units in 2020, which represents a projected increase of more than 200 million units in three years.
- The decreasing price of fingerprint sensors is making it affordable for various automakers to deploy them in their future cars without significantly impacting the price of the automobile, early adoption has prompted competitors as well to offer similar solutions. The average selling price of fingerprint sensors decreased from USD 5.5 in 2014 to USD 2.1 in 2019 and is expected to reach USD 2 in 2020.
- Also, the increasing trend of keyless entry in cars and push-button ignition systems has further triggered the development of fingerprint sensors in automobiles. The driver needs to place their finger on the capacitive sensor on the door handle to open the car door.
Regional Outlook of Biometric in the Automotive Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Biometric in the Automotive Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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