Biometric Vehicle Access Industry Analysis:
The biometric vehicle access market will grow at a healthy CAGR between 2016- 2027, states the recent Market Research Future (MRFR) analysis.
Various factors are propelling the global biometric vehicle access market growth. According to the recent MRFR report, such factors include the changing automotive industry, burgeoning need for driverless and electric cars, rising applications of sensor-based technology, upcoming IRIS recognition systems, and growing development in the voice recognition technology and fingerprint recognition technology. Besides, demand for high security and authentication, environmental regulations, changes in government policies, and intense competition are also boosting the market growth.
On the contrary, risk of cybersecurity, uncertainty, moderate training and attentiveness, and the impact of the current COVID-19 pandemic may impede the global biometric vehicle access market growth over the forecast period.
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Key Players
Key contenders profiled in the global biometric vehicle access market report include Hid-Global, Voxx International, Voicebox Technologies, Synaptics Incorporated, Methode Electronics, Fingerprint Cards Ab, Fujitsu Ltd. (Japan), Hitachi Ltd. (Japan), Hitachi Ltd. (Japan), and Safran S.A (France). Industry players have incorporated several strategies to stay at the forefront and also cater to customers burgeoning needs comprising partnerships, joint ventures, collaborations, geographic expansions, strategic alliances, new product launches and new product development, and others.
Biometric technology, simply put, is a system that is based on psychological and behavioral characteristics and is used for recognition and verification of manual access. This system is a reliable, user-friendly, and convenient monitoring and identification method. Hand geometry, voice recognition, and fingerprint are the different types of biometric vehicle access systems that work on different technologies such as face recognition and iris recognition. It is mostly used in battery electric vehicles and passenger cars.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global biometric vehicle access market based on vehicle type, technology, and type.
By type, the global biometric vehicle access market is segmented into hand geometry, voice recognition, and fingerprint. Of these, the voice recognition segment will lead the market over the forecast period.
By technology, the global biometric vehicle access market is segmented into face recognition and iris recognition. Of these, the iris recognition segment will dominate the market over the forecast period.
By vehicle type, the global biometric vehicle access market is segmented into battery electric vehicle and passenger car. Of these, the passenger car segment will spearhead the market over the forecast period.
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Regional Analysis
By region, the global biometric vehicle access market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Among these, Europe will lead the biometric vehicle access market during the forecast period. Advanced technologies being adopted in the automotive industry, technological advancements, and rising innovations are adding to the global biometric vehicle access market growth in the region.
In the APAC region, the global biometric vehicle access market is predicted to grow at a fast pace over the forecast period and at a high CAGR. Cost-effective, rising vehicle production, technological advances, and the rise in modernization are adding to the global biometric vehicle access market growth in the region. Besides, a rise in disposable income, and a growing demand for consumer appliances and vehicles are also adding market growth.
In North America, the global biometric vehicle access market is predicted to have healthy growth over the forecast period.
In the Rest of the World, the global biometric vehicle access market is predicted to have sound growth over the forecast period. The booming automobile industry is adding to the global biometric vehicle access market growth in the region.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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