Press release
Automotive Biometrics Market is Expected to Reach $24.8 billion by 2025
Automotive Biometrics Market 2022
The automotive biometrics market is growing at a fast pace and is expected to reach $24.8 billion by 2025. This growth can be attributed to the increasing demand for advanced security features in vehicles. Automotive biometrics is a technology that uses biological characteristics, such as fingerprints, facial recognition, and iris scans, to identify drivers and passengers. This technology is being used by automakers to improve safety and security in vehicles.
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Automotive biometrics is a radical approach which has transformed driving experience, vehicle safety, and comfort features. Automotive Biometrics has already paved its way in the industry more than a decade. There has been significant increase in the sales of passenger cars in the last decade with developing countries generating significant demand of automotive biometrics installed in the vehicles.
As cars have become an indispensable part of society, there has been a greater need to enhance the safety and security of cars. Automotive Biometrics are being used in various purpose notably the driver identification systems. For instance, through sensors, the biometric driver identification system detects various parts such as but size and fingerprints, amongst others, to verify whether the person is allowed to start the car or not.
Global Automotive Biometrics Market Participants
Some of the market participants identified across the value chain of the global automotive biometrics market are:
• IriTech, Inc.
• ZKTECO CO., LTD
• SecuGen Corporation
• Continental AG
• Biomatiques Identification Solution Pvt. Ltd.
• Next Biometrics
• CMITech Company, Ltd.
• Crossmatch Technologies
• Green Bit Biometric Systems S.p.A.
• Hitachi Ltd
• Fujitsu Ltd
• Fingerprint Cards Ab
• IDEX Biometrics
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Automotive Biometrics Market Drivers
The growing focus on the development of autonomous vehicles is expected to drive the demand for advanced automotive biometrics. Due to the high accuracy of biometric systems, they are being widely adopted in automotive security systems. As biometric systems are based on biological confirmations such as fingerprints, voice recognition, and iris scan, amongst others, there is the least probability of breach of security.
Automotive Biometrics Market Restraints
One of the major challenges faced by the global automotive biometrics market is the high costs associated with the installation of this system, which confines its usage to only the premium/luxury category of vehicles. Another major challenge for automotive biometrics is that, the system being highly secure, makes it impossible for family or friends to take over the driving in case of an emergency.
Automotive Biometrics Market Trends
A number of automakers have shown keen interest in the adoption of automotive biometrics to enhance the safety and security of vehicles. Automotive OEMs are collaborating into strategic partnerships with wearable companies. These wearable device can be connected via Bluetooth to get the biometrics data.
Global Automotive Biometrics Market: Regional Outlook
In terms of regional perspective, North America is anticipated to hold a relatively larger share in the global automotive biometrics system market. This is attributed to the increasing disposable income in the region, and increasing adaptability amongst consumers for such highly technologically advanced products, which is projected to drive the demand for automotive biometrics.
Europe, predominantly Western Europe, is also projected to hold a significant share in the global automotive biometrics market. Regions such as the developing countries of Asia Pacific are anticipated to witness relatively higher growth percentages, with major growth in the latter half of the forecast period in the automotive biometrics market.
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China and India are projected to represent significant shares in the Asia Pacific automotive biometrics market. Other regions such as Latin America, predominantly Mexico, and the Middle East and Africa, with significant investments in the automotive sector, are projected to witness significant growth rates over the forecast period in the automotive biometrics market.
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