Automotive Biometric Market expected to reach at $1,128 million by 2024, growing at a CAGR of 12.0% from 2018 to 2024

The global automotive biometric market was valued at $476 million in 2017, and is expected to reach at $1,128 million by 2024, growing at a CAGR of 12.0% from 2018 to 2024. Automotive Biometrics is an electronic device utilized for identification and authentication in vehicles for number of applications mainly, vehicular access, ignition switch, vehicle immobilizer, rationalization, and health monitoring. Biometric systems could be in any form such as fingerprint scanner, facial recognition, voice recognition, and others.

The global automotive biometric market is segmented based on technology, vehicle type, and region. By technology, the market is divided into fingerprint scan, voice recognition, facial recognition, and others. Based on vehicle type, it is bifurcated as passenger cars and commercial vehicle. Based on the region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Companies covered in this report study:
• Bridgestone Corporation (Japan)
• Compagnie Gnrale des tablissements Michelin SCA (France)
• Continental AG (Germany)
• Goodyear Tire and Rubber Co. (U.S.)
• Pirelli & C. SpA (Italy)
• Alliance Tire Group (Israel)
• Apollo Tires Ltd. (India)
• Cooper Tire and Rubber Co.(U.S)
• Hangzhou Zhongce Rubber Co. Ltd (China)
• Hankook Tire Co (South Korea)

A major factor that drives the growth of the automotive biometric vehicle access system market is the high rate of accuracy as it asks for biological evidences such as fingerprint scan, face & others, hence, increasing the level of safety. Biometric access system does not ask for passwords, which makes it difficult to be hacked or stolen. Moreover, hackers cannot easily track down the passwords as the access is given on the owner’s recognition. In addition, biometric vehicle systems are easier and faster with respect to the operating pace. Some of the car manufacturers such as Ford, BMW, Mercedes-Benz, and Volkswagen plan to incorporate the biometric system in the cars for the safety and convenience of the customers.

Key Market Segments
• By Vehicle Type
o Passenger Car
o Commercial Vehicle
• By Technology
o Fingerprint Scan
o Voice Recognition
o Facial Recognition
o Others

• By Region
o North America
 U.S.
 Canada
 Mexico
o Europe
 UK
 Germany
 France
 Rest of Europe
o Asia-Pacific
 China
 India
 Japan
 Rest of Asia-Pacific
o LAMEA
 Latin America
 Middle East
 LAMEA

Key Benefits
• This study comprises analytical depiction of the global automotive biometric market with current trends and future estimations to depict the imminent investment pockets.
• The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
• The current market is quantitatively analyzed from 2018 to 2024 to benchmark the financial competency.
• Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers in the industry.

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