Automotive Biometric Market

Automotive Biometric Market Size (2023 - 2028):

The Global Automotive Biometric Market was worth US$ 0.88 billion in 2022 and is anticipated to reach a valuation of US$ 1.99 billion by 2028 and is predicted to register a CAGR of 14.84% during 2023-2028.

Market Overview:

Theft of passenger cars has increased, and long-haul trucks carrying valuable goods have been hijacked, posing a security challenge for owners and fleet operators. Central locking systems are installed in passenger automobiles, but they have proven insufficient in providing reliable security against carjacking and vehicle theft. As a result, the automotive biometric industry is predicted to rise in order to improve vehicle security. The most common use of vehicle biometrics is to improve security. For security features such as keyless door unlocking, surveillance, and keyless ignition, automotive biometrics involves the utilization of unique physical qualities of individuals such as fingerprint and facial recognition. This technology can be used to detect driver health and avoid potential problems by monitoring driver weariness, sleepiness, and other factors. In-vehicle biometrics can also provide a more personalized driving experience because the car identifies the driver and changes elements like navigation, temperature, and driving position accordingly.

Market Drivers:

The growing interest in EVs and Luxury Vehicles is expected to drive the Global Automotive Biometric Market During the Forecast Period. Electric vehicle (EV) sales are quickly increasing as a result of increased public awareness about environmental preservation and government incentives and programs. Electric vehicles are in high demand around the world as people become more aware of the environmental impact of fuel vehicles. Subsidies, incentives, enhanced charging infrastructure, and extended vehicle range are all examples of government actions that help promote the use of electric vehicles. The rising popularity of electric vehicles is likely to spur innovation and development in the field of automotive biometrics. Manufacturers will be able to build more advanced automotive biometric features for electric vehicles as sales of electric vehicles expand. Consequently, the worldwide automotive biometric market is likely to be driven by growing sales of electric vehicles over the forecast period.

Rising concerns about public Safety and Security are expected to be another factor for the Global Automotive Biometric Market During the Forecast Period. In the car sector, high-quality automotive biometric systems offer exceptional steering handling and vehicle security. As a result, the vehicle biometric system is an important part of maintaining safety and security. According to the setbacks, these passenger vehicles, such as sedans and premium automobiles, predominantly use face and voice biometrics to perform vehicle functions. Furthermore, according to the BMW Group, sales of premium passenger cars with automotive biometrics and other safety and security systems are on the rise. Furthermore, top global automotive parts and component suppliers are providing biometric technologies to car OEMs in order to combat vehicle theft.

Market Restraints:

High Installation Cost of the Systems is expected to be the hampering factor for the Global Automotive Biometric Market During the Forecast Period. The monitoring of a vehicle and its driver is dear and complex because of the high number of software and hardware components accustomed analyse driver behavior, like sensors, video cameras, and other accessories. the price of running an automotive biometric system is decided by a variety of things, including advanced technology and vehicle type. thanks to the many investment and repair & maintenance expenses involved in the creation of contemporary technology, the operating operations of an automotive biometric system are costly. Furthermore, the increase of car biometric systems is hampered by production and safety problems associated with technology development. additionally, the components and materials utilized in driver assistance technology systems must accommodate international standards. the value of high-quality raw materials and components needed within the manufacture of auto biometric systems rises as a result.

AUTOMOTIVE BIOMETRIC MARKET REPORT COVERAGE:

Market Segmentation:

Automotive Biometric Market - By Type:

• Fingerprint Scan.
• Voice Recognition.
• Face Recognition.

The fingerprint Scan Segment is expected to have the dominant share in the Global Automotive Biometric Market during the Forecast Period. As a result of the rising use of mobile devices and biometric systems. Security and access control functions are the most common uses for it. Fast-track technical developments in this market, such as in display solutions, came as a result of this. The growing popularity of fingerprint sensors in consumer products is projected to provide considerable prospects for their use in the automotive industry. Because the cost of fingerprint sensors is lowering, it is becoming more affordable for many manufacturers to use them in their future vehicles without dramatically increasing the vehicle's price. Early adoption has spurred competitors to provide comparable solutions.

Automotive Biometric Market - By Vehicle Type:

• Passenger Cars.
• Commercial Vehicles.

Passenger Cars Segment is expected to have the dominant share in the Global Automotive Biometric Market During the Forecast Period. Passengers' cars are vehicles with a seating capacity of no more than nine people, including the driver. More population, increased spending power, increased comfort and convenience, and a growing need to possess transportation vehicles all contribute to the demand for passenger automobiles in the near future. As a result of the increased popularity of premium vehicles. Furthermore, the growing desire for greater security and individualized vehicles has been a major driver of the automotive biometric market's segment growth.

Automotive Biometric Market - By Application:

• Vehicle Security System.
• Drive Safety System.
• Advanced Steering and Infotainment.

Vehicle Security Systems  Segment is expected to have the dominant share in the Global Automotive Biometric Market During the Forecast Period. Nowadays, vehicle security systems play a significant role in cars. Vehicle and fuel theft are becoming more common, necessitating the implementation of vehicle security systems in passenger and commercial vehicles around the world. A car security system is intended to keep vehicles safe. Day by day, technology breakthroughs in automobile safety, such as biometrics, are becoming more prevalent.

Market Regional Analysis:

The Global Automotive Biometric Market Report includes the segmentation of regions:

• North America
• Europe
• Asia-pacific
• Middle-east and Africa
• Latin America

North America is expected to have the dominant share in the Global Automotive Biometric Market During the Forecast Period. , automakers in the region rely on modern technology, such as biometrics, to provide value and difference to their products. In the region, the automotive sector is a rapidly emerging market for biometrics applications. The corporations are positioning and segmenting their biometric offerings for the market in a strategic way. BMW, Mercedes-Benz, Volkswagen, and Ford, among others, have previously stated that biometric technology will be included in their high-end luxury segmentation automobiles with high-security features. Biometric technology is being investigated by the industry in a variety of fields, including vehicular access, ignition switches, car immobilizers, rationalization, and health monitoring. ​

Asia-Pacific is expected to register steady growth and CAGR in the Global Automotive Biometric Market During the Forecast Period. Due to rising automobile demand in China, Japan, India, and South Korea. Automotive biometric systems are used to identify and verify automobiles for improving vehicle safety and comfort, and the automotive biometric market is growing in tandem with rising vehicle sales in this region. China is one of the world's leading makers and sellers of electric vehicles, according to data from the China Association of Automobile Manufacturers. This will almost certainly boost the use of biometric technology in automobiles.

Market Key Players:

1. Hitachi, Ltd.
2. FUJITSU
3. Nuance Communications, Inc.
4. VOXX International Corp.
5. Genesis.
6. Synaptics Incorporated
7. HID Global Corporation
8. BIOENABLE TECHNOLOGIES PVT. LTD
9. FINGERPRINT CARDS AB
10. Methode Electronics

Market Key Developments:

• According to a corporate statement, Precise Biometrics will deliver its unique fingerprint algorithm and related technology to Infineon as part of cooperation on a range of car applications, including automated modifications for driver settings.
• Genesis has announced the launch of their "Face Connect" technology, which allows vehicles to detect human faces and open and lock doors without the use of a smart key. Genesis has been incorporating cutting-edge technologies into its vehicles to increase the human-vehicle bond. Face Connect, together with the automobile's Fingerprint Authentication System, is expected to maximize consumer convenience as a technology that allows the car to communicate with drivers.