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Biometric Driver Identification System Market: Industry Is Projected To Bring In US$ 25,559.5 Million Revenue By The End Of 2022, New Report Suggests

01-31-2018 04:28 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

Fact.MR

Fact.MR

Biometric driver identification system is an advanced technology in the vehicle, ensuring its safety. The system uses various technologies such as fingerprint and facial recognition, retina scan, hand geometry, voice analysis, etc., to identify the driver and also to avoid unauthorized access. It also alerts the driver in real-time in case of any distraction. The biometric driver identification system also customizes in-vehicle features as per the driver comfort including seat alignment, the temperature in the vehicle, adjusting steering as per the comfort of the driver.

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According to a study by Fact.MR, the global biometric driver identification system market is expected to experience healthy growth. The market is projected to increase to 23.9% CAGR during the forecast period 2017-2022. Owing to the increased safety and comfort features in various car models and increasing awareness towards safety are some of the factors driving the demand for biometric driver identification system. Manufacturers have started developing biometric driver identification system with advanced features that enhance driving experience along with safety

Automotive manufacturers are integrating biometric driver identification system to ensure safety as well as enhance driver experience with help of various advanced features. A biometric identification system in automobiles is emerging as keyless entry device. Manufacturers are focusing on adding standard features in biometric driver identification system such as loading personalized settings including maps, communication system, dashboard display, etc. Biometric driver identification system is being increasingly used by fleet management companies as it ensures security and safety, assist in evaluating individual driver performance, and helps to detect unauthorized vehicle use.

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Key Insights on Global Biometric Driver Identification System Market

1- North America is expected to emerge as the biggest market in the global biometric driver identification system market. North America is estimated to surpass US$ 9,000 million revenues by the end of 2022. North America biometric driver identification system market will witness an impressive growth. Increasing adoption of advanced technologies, growing awareness towards vehicle safety and presence of individuals with high disposable income are some of the factors driving growth in the region.

2- Europe is expected to be the second most lucrative market for biometric driver identification system. Due to the government initiatives towards vehicle safety and road safety is one of the reasons for increasing adoption of advanced vehicle safety technology, thereby boosting the demand for biometric driver identification system in Europe.

3- Compact passenger cars are likely to be the largest deployer of biometric driver identification system. Experiencing healthy growth, compact passenger cars are estimated to bring in nearly US$ 7,700 million revenue towards 2022 end.

4- Biometric driver identification system is expected to be largely used for engine start-stop system. Engine start-stop system will account for nearly one-third of the revenue share by the end of 2017. Meanwhile, driver fatigue & drowsiness monitoring system in biometric driver identification system is also estimated to witness impressive growth, creating an incremental opportunity of more than US$ 3,500 million during 2017-2022.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global biometric driver identification system market through 2022, which include Bioenable Technologies Pvt. Ltd, Bayometric LLC, Continental AG, Fujitsu Ltd, Denso Corporation, HID Global Corporation, Gentex Corporation, Mitsubishi Heavy Industries Ltd, Robert Bosch GmbH, and Hitachi Ltd.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized automotive market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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