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Biometric Vehicle Access System Market by Authentication type, Future Technology, Vehicle Type, and Region - Global Forecast to 2021

Biometric Vehicle Access System Market: Global Forecast until 2021

  • December 2016
  • 134 pages
  • ID: 4450352
In this report:
The German market is expected to lead the European biometric vehicle access system market at an estimated market size of ##.## thousand units in 2016 and is projected to reach ##.## million units by 2021, growing at a CAGR of ##.##%.
The fingerprint recognition system segment is projected to grow from ##.## thousand units in 2016 to ##.## thousand units by 2021, at a CAGR of ##.##%, whereas the voice recognition system segment is expected to grow at a CAGR of ##.##% during the forecast period.

Summary

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"Increasing demand for and awareness regarding safety technologies to drive the biometric vehicle access system market"

The biometric vehicle access system market is forecasted to be $442.70M in 2016, and is projected to extend $854.80M by 2021. The sector, in terms of value significance, is expected to rise at a compound annual growth rate (CAGR) of ~14.1 percent from 2016 to 2021. Elements such as the growth in vehicle sales, increasing awareness regarding vehicle security systems among consumers, government regulations mandating safety features, and rise in vehicle thefts are driving the industry demand for biometric vehicle access systems. However the growing production costs of premium safety features make these features unaffordable for consumers, and could adversely affect the biometric vehicle access system market.

"Emerging safety standards are a top driver of the fingerprint recognition system market"

The fingerprint recognition system is expected to account for the biggest market share in 2016. There has been a quick growth in technological improvements in the biometric vehicle access system market. Emergence of industry-wide standards including the BioAPI would trigger increase in the biometric vehicle access system market. BioAPI is a main part of the International Standards which support biometric enrollment and identification systems. As common protocols develop, integration and interoperability of biometric devices across systems are anticipated to increase. Such flexibility is anticipated to stimulate the use of biometrics in the automotive segment

"Increasing number of patents and technological improvements would drive the industry in European area"

Europe (EU) is forecasted to be the biggest market for biometric vehicle access systems. The Asia-Pacific biometric vehicle access system market, in terms of value importance, is expected to grow at the highest compound annual growth rate (CAGR) from 2016 to 2021. This can be primarily attributed to the increasing vehicle production and the growing installation of safety features in passenger cars, commercial vehicles, and off-highway vehicles. The rise in European market can be accredited to the growing number of patents and technological improvements.

The market research includes industry insights from different market experts, ranging from component suppliers to Tier 1 firms and Original equipment manufacturers. The break-up of the primaries is like:

- By Company category - Tier 1 - 42 %, Tier 2 - 32.0 percent, Others - 26.0 percent

- By Description - C-suite - 40.0 percent, D-suite - 29.0 percent, Others - 31.0 percent

- By area - North america (NA) - 38.0 percent, Europe - 22.0 percent, Asia-Oceania - 30.0 percent, RoW - 10.0 percent

Segment Research

The market research offers an insight on biometric vehicle access systems across various authentication types and areas. It aims at evaluating the market value and upcoming growth potential of this market across distinct segments including authentication type, future technology, vehicle type, and territories. Moreover, the industry report also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, SWOT study, latest developments, and key industries strategies.

Why acquiring this study can help you:

The analysis offers business insights about the following parts:

- Business entry: Exhaustive information about the biometric vehicle access system market provided by the most important 10 market actors in the industry

- Product improvement/Innovative products: In-depth understanding into up-on-coming technologies, Research&development activities, and recent product launches in the biometric vehicle access system market

- Industry development: Highlighted information about types of biometric vehicle access systems. The market research examines the sector for different biometric vehicle access system across localities

- Industry diversification: Complete information about recent products, untapped regional sectors, recent evolutions, and market investments in the biometric vehicle access system market

- Opposing assessment: In-depth assessment of the market shares, strategies, products, and manufacturing competences of key players in the biometric vehicle access system market

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