Biometric Vehicle Access System Market by Authentication type, Future Technology, Vehicle Type, and Region - Global Forecast to 2021
NEW YORK, March 14, 2017 /PRNewswire/ -- demand for and awareness regarding safety technologies to drive the biometric vehicle access system market"
The biometric vehicle access system market is estimated to be USD 442.7 million in 2016, and is projected to reach USD 854.8 million by 2021. The market, in terms of value, is projected to grow at a CAGR of 14.06% from 2016 to 2021. Factors such as the increase in vehicle sales, growing awareness regarding vehicle security systems among consumers, government regulations mandating safety features, and increase in vehicle thefts are driving the demand for biometric vehicle access systems. However the rising production costs of premium safety features make these features unaffordable for consumers, and could adversely affect the biometric vehicle access system market.
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"Emerging safety standards are a key driver of the fingerprint recognition system market"
The fingerprint recognition system is estimated to account for the largest market share in 2016. There has been a rapid increase in technological advancements in the biometric vehicle access system market. Emergence of industry-wide standards such as the BioAPI (Biometric Application Programming Interface) would trigger growth in the biometric vehicle access system market. BioAPI is a key part of the International Standards which support biometric enrollment and identification systems. As common protocols develop, integration and interoperability of biometric devices across systems are expected to rise. Such flexibility is expected to stimulate the use of biometrics in the automotive segment
"Increasing number of patents and technological advancements would drive the market in European region"
Europe is estimated to be the largest market for biometric vehicle access systems. The Asia-Pacific biometric vehicle access system market, in terms of value, is projected to grow at the highest CAGR from 2016 to 2021. This can be mainly attributed to the rising vehicle production and the increasing installation of safety features in passenger cars, commercial vehicles, and off-highway vehicles. The growth in European market can be attributed to the rising number of patents and technological advancements.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type - Tier 1 - 42 %, Tier 2 - 32%, Others - 26%
- By Designation - C level - 40%, D level - 29%, Others - 31%
- By Region - North America - 38%, Europe - 22%, Asia-Oceania - 30%, RoW - 10%
Major players profiled in the report are:
- Hitachi Ltd (Japan)
- Fujitsu Ltd. (Japan)
- Safran S.A (France)
- Synaptics Incorporated (U.S.)
- Nuance Communications (U.S)
- Methode Electronics (U.S)
- HID-Global (U.S)
- VOXX International (U.S)
- Fingerprint Cards A.B (U.S)
- Voicebox Technologies (U.S)
Research Coverage
The report provides an insight on biometric vehicle access systems across different authentication types and regions. It aims at estimating the market size and future growth potential of this market across different segments such as authentication type, future technology, vehicle type, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to buy the report:
The report provides insights about the following points:
- Market Penetration: Comprehensive information about the biometric vehicle access system market offered by the top 10 players in the market
- Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, and new product launches in the biometric vehicle access system market
- Market Development: Comprehensive information about types of biometric vehicle access systems. The report analyzes the market for various biometric vehicle access system across regions
- Market Diversification: Exhaustive information about new products, untapped regional markets, recent developments, and investments in the biometric vehicle access system market
- Competitive Assessment: In-depth assessment of the market shares, strategies, products, and manufacturing capabilities of leading players in the biometric vehicle access system market
Read the full report: http://www.reportlinker.com/p04450352-summary/view-report.html
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