Automotive End-point Authentication Market Estimated to Exhibit 8.6% CAGR through 2025
Some of the big names in the global automotive end-point authentication market are Garmin Ltd., Continental AG, Samsung Electronics Co., Fujitsu Ltd., Hitachi Ltd., Ltd., Symantec Corporation, VOXX International Corporation, Valeo S.A., Synaptics Incorporated, and Sonavation, Inc.
As per a report by Transparency Market Research, the global automotive end-point authentication market is expected to rise at a healthy 8.6% CAGR during the period between 2017 and 2025 to reach a value of US$1.115 million by 2025 from US$0.504 million in 2017.
automotive end point authentication market
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Surging Uptake of Electric and Hybrid Vehicles to Stoke Healthy Growth in Europe Market
Depending upon the type of vehicle, the global automotive end-point authentication market can be broadly split into conventional vehicles and hybrid and electric vehicles. Of the two, the conventional vehicles account for a greater share in the market, which stood at over 50.0% in 2016. The segment is also slated to clock impressive growth in the next couple of years. The hybrid and electric vehicles segment too is predicted to expand swiftly on account of the fuel efficiency they accord.
Geographically, the key segments of the global automotive end-point authentication market are Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Europe, among them, contributed to over 30.0% share in revenue in 2016. The region is primarily powered by Germany. Going forward, the rising application of end-point authentication systems in new segment of vehicles such as electric and hybrid vehicles are predicted to bring about further growth in the market.
Strict Safety-related Regulations Drive Market
An important growth driver in the global automotive end-point authentication market is the stringent regulatory requirements in different parts of the world. “Standards such as Federal Motor Vehicle Standards, National Highway Traffic Safety Administration (NHTSA), and Euro standards, among others, are driving automobile manufacturers to develop vehicles having enhanced safety and security features, leveraging end-point authentication as a major technology,” explains the lead analyst of the TMR report.
Another factor catalyzing growth in the automotive end-point authentication market is the fact that the technology aids in preventing thefts and damages to vehicles. The gradual uptake of hybrid and electric vehicles will also likely catalyze growth in the market.
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Automotive wearables, such as smart watches and smart glasses that are synchronized with the computer system of automobiles to provide specific information, has also brought a transition in the automotive industry and taken the end-point authentication market to a whole new level.
This review is based on the findings of a TMR report, titled, “Automotive End-Point Authentication Market (Authentication Type - Smart Phone Application, Wearables, and Biometric Vehicle Access; Vehicle Type - Conventional Vehicles and Hybrid and Electric Vehicles; Connectivity Type - Wi-Fi, Bluetooth, and Cellular Network) - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2017 - 2025.”
Global Automotive End-Point Authentication Market, by Authentication Type
Smart Phone Application
Biometric Vehicle Access
Global Automotive End-Point Authentication Market, by Vehicle Type
Hybrid and Electric Vehicles
Global Automotive End-Point Authentication Market, by Connectivity Type
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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