The biometric identification market for automotive is projected to grow at a CAGR of 25.61% during the forecast period, to reach USD 21.72 Billion by 2022. The market is estimated to grow in the near future owing to factors such as increased demand for vehicle security and passenger comfort. Beyond 2025, the demand for biometric identification system would be driven by the advancements in future mobility solutions such as autonomous cars and their infrastructure, integrated mobility solutions, and goods transport through personalized pods. These future mobility solutions are projected to have personalized access systems, payment gateways, and infotainment.
The study segments the biometric identification market by the identification process (fingerprint, voice, iris, facial, gesture, and multimodal recognition system). The fingerprint recognition market is estimated to grow at the highest rate during the forecast period owing to its reliability for authentication or identification and ease of installation. The market for voice recognition is estimated to have the largest market share owing to its use for multiple applications such as navigation and infotainment among others.
The market for biometric wearables such as watches, eyeglasses, and headsets has increased owing to their increased demand and in-vehicle applications. Due to the increase in government mandates for installing biometric devices, electronic logging devices and driver monitoring system are considered under the fleet management services. In the case of autonomous and semi-autonomous vehicles, biometric in-vehicle features and features used for vehicle access are mapped.
China and India together contribute 35% of the global vehicle production and 34% of the global passenger car production. Also, the demand for luxury vehicles has increased in these countries. Due to this, Asia-Oceania is estimated to be the fastest growing market for biometric identification during the forecast period. The North American region is projected to have the largest market. With the increase in demand for luxury vehicles and an increase in vehicle thefts in the region, there are rising concerns for driver authentication. The market growth in this region is also supported by the presence of a large number of biometric system and component manufacturers.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Biometric Identification Market Analysis, By Identification Process
7 Biometric Identification Market Analysis, By Components
8 Biometric Identification Market Analysis, By Application
9 Biometric Identification Market for Electric Vehicle, By Region
10 Biometric Identification Market, By Wearable Technology
11 Biometric Identification Market, By Autonomous & Semi-Autonomous Cars
12 Biometric Identification Market for Commercial Vehicles, By Fleet Management Services