Automotive Biometric Market Share, Industry Trends & Forecast 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Automotive Biometric Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive biometric market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Automotive Biometric Market?
The global automotive biometric market size reached US$ 863 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,048 Million by 2028, exhibiting a growth rate (CAGR) of 14.7% during 2023-2028.
Automotive biometric refers to an electronic device that comprises various sensors, retinal and fingerprint scans, and voice recognition systems to identify the correct owner of the vehicle and prevent theft cases. It is also capable of sensing the anxiety and stress levels of the driver by collecting data from the seat, steering wheel, and accelerator to improve the safety aspects of the driver and the vehicle. It is widely installed in various rental vehicles to enable in-car payments for availing a wide variety of in-car value-added services, such as access to satellite radio, premium passenger entertainment, and internet access. It also enables rental service providers to issue temporary mobile keys for vehicle access and remote start. It is incorporated in various public transportation, such as buses, to make sure no traveler is left behind at rest stops on local haul routes and school field trips and track the attendance of the driver while ensuring the chauffeur is alert and driving safely. Furthermore, automotive biometric is used by taxi service providers to ensure only authorized and licensed drivers are taking fares and enable drivers to log hours biometrically.
What are the growth prospects and trends in the automotive biometric industry?
At present, the increasing demand for automotive biometric, as it is user-friendly, reliable, and offers convenient identification and monitoring methods, represents one of the primary factors influencing the market positively. Besides this, the rising trend of carpooling and adopting rented cars for personal usage to travel longer distances and save fuel expenses is propelling the growth of the market.
In addition, the growing purchase of various electric vehicles (EVs) equipped with smart features to improve the driving experience of individuals and reduce the utilization of fuels is offering a favorable market outlook. Apart from this, the increasing integration of biometrics in cars to achieve hands-free features, automatic preset adjustments, and various other safety benefits is contributing to the growth of the market. Additionally, key market players are focusing on manufacturing self-driving cars integrated with artificial intelligence (AI) and the internet of things (IoT), which are capable of driving with minimum human assistance and are highly susceptible to their environment to prevent the occurrence of road accidents.
They are also incorporating a wide variety of innovative features, such as an automatic adjustment of the seat and rearview mirror according to the preferences of the driver. Moreover, the increasing integration of automotive biometrics to improve passenger safety is bolstering the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
Fingerprint Scan
Voice Recognition
Facial Recognition
Others
Breakup by Vehicle Type:
Passenger Car
Commercial Vehicle
Breakup by Sales Channel:
OEMs
Aftermarket
Breakup by Application:
Vehicle Security System
Driver Safety System
Advanced Steering and Infotainment
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Aware Inc., BioEnable Technologies Pvt. Ltd., Continental AG, Fingerprint Cards AB, Fujitsu Limited, Hitachi Ltd., IriTech Inc., Methode Electronics Inc., Precise Biometrics AB, Shenzhen Goodix Technology Co. Ltd., Synaptics Incorporated and VOXX International Corporation.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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