NEW YORK, March 27, 2017 /PRNewswire/ -- The automotive GRS market is projected to grow at a CAGR of 30.5%, to reach USD 3144.8 million by 2021. The fastest growing trend in the automotive GRS market is the touchless systems market. The demand for automotive GRS has increased because of enhanced user experience and greater comfort. In addition, automotive manufacturers are adopting the GRS system in their vehicle to reduce driver workload and distraction to make their vehicle accident free. However, high price of GRS, and low consumer awareness may hamper the growth of the GRS market to some extent.
"The hand/ fingerprint authentication type is the largest market segment, in terms of value, in the automotive GRS market"
The hand/ fingerprint segment is the largest market among authentication type segments in the automotive GRS market. This segment is expected to continue its dominance during the forecast period while growing at a high CAGR owing to factors such as increasing trend in ease of communication between the vehicle and the user through gestures. For example, access to navigation and entertainment features using hand and fingerprint gesture controls.
"Touchless systems is expected to grow at a high CAGR among component type segment"
The touchless systems segment is estimated to hold the largest market size of automotive GRS 2016. It is expected to grow at a high CAGR, owing to rise in demand for passenger cars across the globe and OEMs focus to enhance user experience.
"Europe is the largest region in the automotive GRS market"
In 2016, the largest regional market for the automotive GRS is the European market. The disposable income is high in developed countries like Germany and UK and the demand for premium as well as comfort features in a vehicle is increasing. The Asia-Pacific market is the fastest growing in terms of value, and is dominated by China, a key market for the automotive GRS in the region. Increasing passenger car production in developing countries in Asia-Pacific such as China and India on the backdrop of positive economy outlook and favouring demographics is one of the major factors contributing to the growth of the Asia-Pacific market. The study contains insights provided by various industry experts, ranging from automotive GRS manufacturers to Tier–3 companies and various industry associations.
The break–up of the primaries is as follows:
- By Company Type: Tier I–62%, Tier II–25% and Tier III–13%
- By Designation: C Level–37%, D Level–38% and Manager level–25%
- By Region: Americas-12%, Europe-50%, Asia-Pacific-25% and Middle East-13%
Players Profiled in the Report are:
- Continental AG (Germany)
- HARMAN International Industries (U.S.)
- SoftKinetic (Belgium)
- Synaptics Incorporated (U.S)
- Visteon Corporation (U.S.)
- NXP Semiconductors (Netherlands)
- Omek Interactive Ltd. (Israel)
- Qualcomm Inc. (U.S.)
- eyeSight Technologies Ltd. (Israel)
- Cognitec Systems GmbH (Germany)
The report covers the automotive GRS market based on Region (North America, Europe, Asia-Pacific, and Rest of World), component type (touch based systems and touchless systems), Application type (multimedia/infotainment/navigation, lighting systems and others), and authentication type (hand/fingerprint/leg recognition, face recognition, vision/iris recognition and others).
Reasons to Buy the Report:
The report provides insights about the following points:
- Market Penetration: Comprehensive information about automotive GRS applications offered by the top players in the industry
- Regulatory Framework: Detailed insights into stringent emission regulations, and the effect of the regulations on the market
- Market Development: Comprehensive information about various technology trends. The report analyzes the markets for various technologies across the countries
- Market Diversification: Exhaustive information about emerging technologies, recent developments, and investments in the automotive GRS market
- Competitive Assessment: In-depth assessment of strategies, services, and manufacturing capabilities of leading players in the automotive GRS market
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