Automotive Biometric has emerged as one of the technological advancements in the automotive industry, used for security purpose. Growing deployment of fingerprint recognition system along with other recognition system for authentication to reduce the risk of vehicle theft and enhance the vehicle safety is expected to surge the growth of the Automotive Biometrics market. Adoption of fingerprint and facial recognition technology is expected to offer low-cost authentication system allowing the drivers to unlock and start vehicles without any difficulty.
Growing vehicle theft rate is one of the major factors which is propelling the growth of vehicle equipped with biometric technology. In 2020, New Zealand had the highest car theft rate worldwide, with 1,172 occurrences per 100,000 inhabitants. Other countries with the highest car theft rate were Uruguay, Italy, and the United States. As per FBI, in US, in 2020, 810,400 vehicles were stolen, the highest annual number of vehicles stolen since 2008 (959,059 vehicles were stolen). In 2020, the number of vehicles stolen increased by 11.8% compared to 724,872 in 2019. Motor vehicles were stolen at a rate of 246.0 per 100,000 people in 2020, the highest rate since 2009, when the rate was 259.2. The 2019 the vehicle theft rate stood at 220.8 per 100,000 peoples.
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According to UnivDatos Market Insights (UMI)’ research report “Automotive Biometric Market”, the market is expected to witness CAGR growth of around 34% during the forecast period 2021-2027F. Automotive Biometric Market is experiencing significant growth due to Growing demand for better safety and security of vehicle and drivers, Growth in demand for luxury vehicles, equipped with advanced security feature, Advancements of automotive security features. However, High Installation Cost associated with the technology paired with Concern related to data privacy and cyber security threats to restrain the market growth.
Based on Component, the Automotive Biometric Market is segmented into Hardware, Software. Currently, hardware segment is expected to dominate the market, however the software segment is expected to witness significant growth during the analysis period. Growing demand for keyless entry in cars and push-button ignition systems has further triggered the development of fingerprint sensors in vehicles.
Based on Technology, the Automotive Biometric Market is bifurcated into Fingerprint recognition, Voice recognition, Iris recognition, Facial recognition. In 2020, Fingerprint recognition segment dominated the market. However, Voice recognition, Iris recognition segments are expected to witness increased adoption during the forecast period.
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Based on Sensor Type, the Automotive Biometric Market is bifurcated into Optical Sensor, Retinal Sensor, CMOS Fingerprint Sensors. CMOS Fingerprint Sensors dominates the market. Automotive Biometrics uses advanced technology covering sensors, cameras, and other connected technology, and use of connectivity and connected devices increases the risk of cyber security.
Based on Vehicle Type, the market is segmented into Passenger Cars, Commercial Vehicle. Currently, biometric system is majorly deployed in passenger cars, owing to its increased adoption in luxury vehicle segment. However, increasing safety and security concern would propel the Commercial Vehicle owners to deploy advanced biometric solutions in their fleet.
Based on Sales Channel, the Automotive Biometric Market is bifurcated into OEMs and Aftermarket. OEMs segment dominated the market in 2020. However, Aftermarket segment is expected to witness significant growth during the forecast period.
Asia-Pacific to witness highest adoption of the technology
Based on regions, the report provides detailed analysis for overall demand of Automotive Biometric for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and Rest of World. Europe dominates the market; however, Asia-Pacific is expected to witness significant growth during the forecast period.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Automotive Biometric Market are Robert Bosch, AT&T Inc., Verizon Communications Inc., TomTom Inc., Continental AG, Fortive Corporation, Inseego Corp., Geotab Inc., Cartrack Holdings Limited, Xirgo Technologies, LLC. etc. These companies are investing heavily on Automotive Biometric to increase their customer base.
- In November 2020, Cadillac announced the launch of Facial Recognition Feature in North America. General Motors filed a trademark for the name “Modus Biometric System” on August 31st, 2020. It’s believed that the new trademark filing is for an upcoming Cadillac facial recognition system set for release in the Americas
- In February 2020, ADI partnered with Jungo to develop driver monitoring system for connected cars. The solution will blend ADI’s Time-of-Flight (ToF) technology with Jungo’s CoDriver software platform. It will also enable face and gesture recognition. The technology will give drivers new ways to interact with their vehicle while delivering a more personal automotive experience
- In January 2020, Samsung Electronics unveiled Digital Cockpit 2020. The new Digital Cockpit unveiled by Samsung at CES 2020 utilizes 5G and biometric login with facial recognition or fingerprint verification through a smartphone for a personalized experience, according to a company announcement
- In January 2019, Hyundai Motor Corp. developed an enhanced biometric system for cars which helps drivers to unlock and start engine with light touch
“Automotive Biometric Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
- By Component (Hardware, Software)
- By Technology (Fingerprint recognition, Voice recognition, Iris recognition, Facial recognition)
- By Sensor Type (Optical Sensor, Retinal Sensor, CMOS Fingerprint Sensors)
- By Vehicle Type (Passenger Cars, Commercial Vehicle)
- By Sales Channel (OEMs, Aftermarket)
- By Region (North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of APAC); and Rest of World)
- By Company (Robert Bosch, Continental AG, Synaptics Incorporated, OSRAM Licht AG, Nuance Communications, Inc., Fingerprints Cards AB, Hitachi, Ltd., Safran S.A, Fujitsu Limited, IDEX Biometrics)
Key questions answered in the study:
- What are the current and future trends of the Automotive Biometric industry?
- How the industry has been evolving in terms of end-user demand and product category?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Automotive Biometric industry?
- What is the customer orientation, purchase behavior, and expectations from the Automotive Biometric suppliers across various countries?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 AUTOMOTIVE BIOMETRIC MARKET COVID-19 IMPACT
6 AUTOMOTIVE BIOMETRIC MARKET REVENUE (USD BN), 2019-2027F
7 MARKET INSIGHTS BY COMPONENT
8 MARKET INSIGHTS BY TECHNOLOGY
9 MARKET INSIGHTS BY SENSOR TYPE
10 MARKET INSIGHTS BY VEHICLE TYPE
11 MARKET INSIGHTS BY SALES CHANNEL
12 MARKET INSIGHTS BY REGION
13 AUTOMOTIVE BIOMETRIC MARKET DYNAMICS
14 AUTOMOTIVE BIOMETRIC MARKET OPPORTUNITIES
15 AUTOMOTIVE BIOMETRIC MARKET TRENDS
16 LEGAL & REGULATORY FRAMEWORK
17 DEMAND AND SUPPLY SIDE ANALYSIS
18 VALUE CHAIN ANALYSIS
19 COMPETITIVE SCENARIO
20 COMPANY PROFILED
21 DISCLAIMER
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