DUBLIN, Dec 16, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Biometric Vehicle Access System Market - Global Forecast to 2021" report to their offering.
The biometric vehicle access system market, in terms of value, is projected to grow at a CAGR of 14.06% from 2016 to 2021. The market is estimated to be USD 442.7 Million in 2016, and is projected to reach 854.8 Million by 2021. The growth of the biometric vehicle access system market is fueled by increased safety regulation, technological advancements, and rise in biometric technologies.
The European region is estimated to dominate the biometric vehicle access system market, in terms of value, in 2016, with fingerprint recognition system being a key contributor to the market in the region. The increasing demand for multifactor authentication and rising biometric technology are the key factors driving the growth of the biometric vehicle access system market across all regions.
Biometric vehicle access systems are highly dependent on electronic components such as electrical wiring and batteries for their smooth functioning. Failure in any of these components could adversely affect the vehicle security system. This results in a large number of replacements in case of minor damages to the security system. The reliability of electronic components is extremely important in the case of complex security systems such as passive keyless entry. Thus, the potential failure of electronic components can prove to be a restraint for the biometric vehicle access system market.
Hitachi Ltd is a leading player in the biometric vehicle access system market. The company is focusing on creating sustainable value by integrating several factors, such as safety, affordability, and eco-friendliness, into their products and solutions. Comprehending the commercial potential of biometrics in the automotive industry, the company has begun concentrating on developing new products focused on automotive industry. The finger vein technology has applications in automotive, banking, and insurance industries.
- Fingerprint Cards Ab
- Fujitsu Ltd
- Hitachi Ltd
- Methode Electronics
- Nuance Communications
- Safran S.A
- Synaptics Incorporated
- Voicebox Technologies
- Voxx International
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Biometric Vehicle Access System Market, By Region
7 Biometric Vehicle Access System Market, By Authentication Type
8 Biometric Vehicle Access System Market, By Future Technology
9 Biometric Vehicle Access System Market, By Vehicle Type
10 Competitive Landscape
11 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/6xmqxj/biometric_vehicle
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/854-million-biometric-vehicle-access-system-market---authentication-type-future-technology-vehicle-type--region---global-forecast-to-2021---research-and-markets-300379738.html
SOURCE Research and Markets