Press release
Global Biometric Vehicle Access Market Expansion at 13.7% CAGR, Valued at $26.91 Billion by 2029
Biometric Vehicle Access
What Are the Biometric Vehicle Access Market Size Forecast for 2025?
Over the last few years, there has been a substantial rapid expansion in the biometric vehicle access market. This market, valued at $14.17 billion in 2024, is projected to increase to $16.09 billion in 2025, indicating a compound annual growth rate (CAGR) of 13.5%. The growth witnessed in the historical period is largely due to factors like heightened security and anti-theft measures, increased demand in the luxury vehicle segment, consumer inclination towards convenience, corporate fleet management requirements, and the integration of smart car features.
What Is the Market Size Outlook for Biometric Vehicle Access Until 2029?
Anticipated to experience swift expansion in the upcoming years, the biometric vehicle access market is set to escalate to a worth of $26.91 billion by 2029, boasting a compound annual growth rate (CAGR) of 13.7%. The surge during the forecast timeframe is attributed to the emergence of autonomous and shared mobility, the regulatory focus on vehicle safety, advancements in multi-modal biometrics, the impact of electric and connected vehicles, and the proliferation into mainstream vehicle sectors. Looking ahead to the forecast period, key trends include improved security measures for anti-spoofing, personalization and driver profile recognition, the incorporation of biometrics into car-sharing and mobility services, a concentrated effort on privacy and data security correspondance, and innovation in behavioral biometrics.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/biometric-vehicle-access-global-market-report
What Are the Major Factors Driving Demand in the Biometric Vehicle Access Market?
The rise in car theft incidents is projected to fuel the expansion of the biometric vehicle access market. Car theft involves the unauthorized or non-consensual acquisition of someone else's vehicle. Biometric vehicle access offers a secure and personalized way to gain access to a vehicle, making it an effective countermeasure to prevent vehicle theft. For example, in March 2023, the National Insurance Crime Bureau, a US-based non-profit organization that fights against insurance fraud and theft, reported that the monthly national vehicle theft surpassed 75,000 consistently, and the total number of vehicles stolen in 2022 exceeded 1 million. This represented a 7% increase compared to 2021. As a result, the escalation in car theft incidents is driving the growth of the biometric vehicle access market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13146&type=smp
How Are End-Use Segments Shaping the Biometric Vehicle Access Market Outlook?
The biometric vehicle access market covered in this report is segmented -
1) By Technology: Iris Recognition, Face Recognition
2) By Authentication Technology: Fingerprint Recognition, Voice Recognition, Hand Geometry
3) By Vehicle Type: Passenger Car, Battery Electric Vehicle
Subsegments:
1) By Iris Recognition: Fixed Iris Scanners, Mobile Iris Scanners
2) By Face Recognition: 2D Face Recognition, 3D Face Recognition, Thermal Face Recognition
What Are the Strategic Trends Transforming the Biometric Vehicle Access Market Landscape?
Leading corporations in the biometric vehicle access industry are concentrating on creating novel solutions like barrier-free biometric verification, to deliver trustworthy services to their consumers. This verification method utilizes biometric authentication processes to ensure easy, secure access without the need for physical obstructions, tokens, or other gadgets. For example, IDEMIA, a software development company based in France, in March 2023, introduced OneLook Gen2 and MorphoWave TP. These offer precise biometric matching and remote face and iris capturing on a single gadget. OneLook Gen2 is adaptable to different applications, such as border control and smart boarding, enhancing travel safety and accessibility for passengers. Moreover, the MorphoWave TP system, which captures ten fingerprints contactlessly while moving, can capture four fingers and the thumb simultaneously.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=13146&type=smp
Who Are the Prominent Companies in the Biometric Vehicle Access Market by ?
Major companies operating in the biometric vehicle access market report are Continental AG, Hyundai Mobis Co. Ltd., 3M Company, Fujitsu Ltd., NEC Corporation, NXP Semiconductors NV, Hella KGaA Hueck & Co., Visteon Corporation, IDEMIA Group, Gentex Corporation, Synaptics Inc., HID Global Corporation, VOXX International Corporation, SRI International Inc., Shenzhen Goodix Technology Co. Ltd., ZKTeco Co. Ltd., Egis Technology Inc., Fingerprint Cards AB, Suprema Inc., Sonavation Inc., IriTech Inc., BIO-key International Inc., Green Bit S.p.A., SecuGen Corporation, IDEX Biometrics ASA
Which Region Is Expected to See the Highest CAGR in the Biometric Vehicle Access Market?
Europe was the largest region in the biometric vehicle access market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biometric vehicle access market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Speak With Our Expert:
Saumya Sahay
Americas +1 310-496-7795,
Asia +44 7882 955267 & +91 8897263534,
Europe +44 7882 955267
Email:saumyas@tbrc.info
The Business Research Company -www.thebusinessresearchcompany.com
Follow Us On:
LinkedIn:https://in.linkedin.com/company/the-business-research-company
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Biometric Vehicle Access Market Expansion at 13.7% CAGR, Valued at $26.91 Billion by 2029 here
News-ID: 4175005 • Views: …
More Releases from The Business Research Company
Top Market Shifts Transforming the Rainwater Harvesting Systems Market Landscape …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Rainwater Harvesting Systems Market Through 2025?
Over the past few years, there has been substantial growth in the market size of rainwater harvesting systems. The industry, which was valued at $1.94 billion in 2024, is predicted to rise to $2.07 billion by…
Live Concerts Fueling Surge In Percussion Instruments Market Growth: Transformat …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Percussion Instruments Industry Market Size Be by 2025?
Over the past few years, the market size of percussion instruments has examined a steady rise. With an increase from $1.44 billion in 2024 to $1.47 billion in 2025, it expects a Compound Annual Growth Rate (CAGR) of…
Emerging Trends to Drive Hydraulic Equipment Market Growth at 3.5% CAGR Through …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Hydraulic Equipment Market Size Growth Forecast: What to Expect by 2025?
The size of the hydraulic equipment market has consistently increased in the past few years. Projections show that it will rise from $45.21 billion in 2024 to $46.86 billion in 2025, recording a compound annual growth rate (CAGR)…
Emerging Trends to Reshape the Fishing Drones Market: Innovative Advancement In …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Fishing Drones Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of fishing drones has seen a swift increase in the past few years. An expansion from $0.89 billion in 2024 to $0.99 billion in 2025, representing a compound annual growth rate (CAGR)…
More Releases for Biometric
Global Biometric Service Market Size by Application, Type, and Geography: Foreca …
According to Market Research Intellect, the global Biometric Service market under the Internet, Communication and Technology category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The biometric service market is witnessing rapid growth, fueled by increasing demand for advanced security solutions across various…
Prominent Biometric Cards Market Trend for 2025: Revolutionizing Payment Securit …
What market dynamics are playing a key role in accelerating the growth of the biometric cards market?
The burgeoning expansion of contactless payment systems is anticipated to spur the development of the biometric card market in the future. Contactless payment systems provide a secure means for consumers to purchase goods or services using their debit, credit, or smart cards by exploiting radio frequency identification (RFID) technology or near-field communication (NFC). The…
Prominent Biometric Sensor Market Trend for 2025: Pioneering Product Innovation …
Which drivers are expected to have the greatest impact on the over the biometric sensor market's growth?
The spike in identity theft incidents is predicted to bolster the expansion of the biometric sensor market. Identity theft involves the stolen personal data such as social security numbers, bank account or credit card details. Biometric techniques address all critical aspects of authentication, non-repudiation, confidentiality, and integrity, contributing substantially to curbing and extinguishing identity…
Key Biometric Cards Market Trend for 2025-2034: Revolutionizing Payment Security …
What Is the Future Outlook for the Biometric Cards Market's Size and Growth Rate?
In recent times, the size of the biometric cards market has expanded swiftly. Its growth is anticipated to soar from $13.03 billion in 2024 to reach $15.36 billion in 2025, with a compound annual growth rate (CAGR) of 17.9%. The surging growth during the historical span can be credited to enhanced security requirements, escalating concerns regarding fraud,…
Biometric Workforce Management Market Will Hit Big Revenues In Future | IDEMIA, …
Advance Market Analytics added research publication document on Worldwide Biometric Workforce Management Market breaking major business segments and highlighting wider level geographies to get deep dive analysis on market data. The study is a perfect balance bridging both qualitative and quantitative information of Worldwide Biometric Workforce Management market. The study provides valuable market size data for historical (Volume** & Value) from 2019 to 2022 which is estimated and forecasted till…
Biometric ATM Market Growing Penetration and Adoption of Voice Biometric Solutio …
The global biometric ATM market size is expected to be valued at US$ 1,960.5 million in 2022 and grow at a CAGR of 30.3% over the forecast period. Biometric ATMs are self-service automated teller machines (ATMs), or cash machines, that use a biometric measure to identify customers and allow them to withdraw cash. Biometric authentication may be the only customer identifier used, or it may be used in conjunction with…
