Vehicle Access Control Market 2024: Industry Landscape, Size Assessment, Emerging Trends, and Key Players' Strategies

The vehicle access control market size has grown strongly in recent years. It will grow from $11.38 billion in 2023 to $12.41 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to security and theft prevention, enhanced user convenience, increasing adoption in residential communities, growth in urbanization, evolving regulatory landscape..

The vehicle access control market size is expected to see strong growth in the next few years. It will grow to $17.75 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to emergence of smart access cards, demand for contactless solutions, focus on green and sustainable solutions, data security and privacy concerns, global efforts in smart transportation.. Major trends in the forecast period include integration of advanced technologies, contactless access solutions, mobile access and smartphone integration, intelligent vehicle identification, cloud-based access control platforms..

Market Overview -
The vehicle access control refer to access control with simple systems that are tailored to the needs, ranging from simple vehicle entry and exit to advanced access control. Vehicle access control has a variety of approaches that can be used to control vehicles entering and exiting a region such as employment, time, and day. It is made up of both biometric and non-biometric components. This technology avoids human involvement to verify the vehicle by giving automatic access to the vehicles.

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Surging Demand For Electric Vehicles Drives Growth In Vehicle Access Control Market
The increasing demand for electric vehicles will propel the growth of the vehicle access control market. A vehicle propelled by one or more electric motors is known as an electric vehicle (EV). It can be powered by a collector system that draws electricity from the outside of the car or by a battery. Road and rail vehicles, surface and underwater watercraft, electric airplanes, and electric spaceships are all examples of electric vehicles. As the demand increases for electric vehicles, it will create a significant need to employ vehicle access control systems. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 from 3 million in 2020, representing almost 9% of total sales, and increased by 4 percentage points in 2021 as well, bringing the total number of electric vehicles on the road to 16.5 million. Therefore, the growing demand for electric vehicles is driving the growth of the vehicle access control market going forward.

Competitive Landscape -
Major companies operating in the vehicle access control market report are Denso Corporation, Valeo SA, Continental AG, Robert Bosch GmbH, Lear Corporation, HELLA GmbH & Co., ZF Friedrichshafen AG, Mitsubishi Electric Corporation, Panasonic Corporation, Omron Corporation,NXP Semiconductors N. V., Texas Instruments Incorporated,STMicroelectronics N. V., Infineon Technologies AG, Alps Alpine Co Ltd., Aptiv PLC., Autoliv Inc., Gentex Corporation, Harman International Industries Inc., Hitachi Ltd., Hyundai Mobis Co Ltd., Johnson Electric Holdings Limited, Magna International Inc., Murata Manufacturing Co Ltd., NEC Corporation, Nidec Corporation, Osram Licht AG, Panasonic Corporation, Samsung Electronics Co Ltd., Sony Corporation,

Technological Advancements Redefine Convenience And Security In The Market
Technological advancement is a key trend gaining popularity in the vehicle access control market. Companies in the vehicle access control market are developing new technologically advanced solutions to fulfill the market demand and increase brand awareness. Technological advancements include smartphone-based vehicle access control systems that provide greater convenience to users with ease. For instance, in July 2021, Hella KGaA Hueck & Co, a Germany-based automotive supplier launched Smart Car Access, which works on ultra-wideband (UWB) technology to offer hand-free, smartphone-based vehicle access and enhance automotive security by preventing the danger of relay attacks such as the unauthorized opening of a vehicle by remote extension.

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Key Segments -
The vehicle access control market covered in this report is segmented -
1) By Type: Biometric System, Non-Biometric System
2) By Vehicle Type: PC, LCV, HCV
3) By Technology: Near Field Communication (NFC), Bluetooth, RFID, Wi-Fi
4) By Applications: Traffic Management, Sensitive Sites/Facilities/Zones, Toll Ways, Commercial Buildings, Residential Buildings

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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