The global biometric in automotive market was valued at USD 183.59 million in 2019, and it is expected to reach USD 503.15 million by 2025, registering a CAGR of 19.06% during the period of 2020-2025
NEW YORK
, Nov. 19, 2020 /PRNewswire/ --
The global biometric in automotive market was valued at USD 183.59 million in 2019, and it is expected to reach USD 503.15 million by 2025, registering a CAGR of 19.06% during the period of 2020-2025. After the increased adoption of biometrics in electronic devices, the applications of biometrics in automotive vehicles have also been gaining traction in recent years. Yet the implementation of this technology has been limited to the premium vehicle segment, but in recent years, its applications are estimated to enter the general personal vehicle segment due to its better vehicle security and other accessibility advantages.
Read the full report: https://www.reportlinker.com/p05986863/?utm_source=PRN
- In the automotive industry, the application of biometrics lies in various areas, including access control for stating a vehicle using various biometric scanners, enable personalized vehicles for the users to allow drivers and passengers to call up playlists, contacts, and preferred apps and the application of these biometric in automotive vehicles are expected to increase during the forecast period.
- The ECG biometric technology is an ideal modality for auto as it supports multiple use cases and applications. The heartrate biometric also offers flexibility for auto OEMs in terms of how it is deployed, ranging from being used on a wearable device for car access control to being embedded into a car's steering wheel to support identification and health, wellness, and wellbeing (HWW) applications.
- Analog Devices, Inc. (ADI) announced a collaboration with B-Secur Ltd to develop a complete biometric authentication solution for use in automotive vehicles. The combination of ADI's leading signal conditioning technology with B-Secur's electrocardiogram (ECG) biometric algorithms software would enable detection of driver readiness and wellness by monitoring the driver's vital signs for any irregularities.
- Facial recognition has been gaining importance in the automotive sector. Automaker Subaru introduced facial recognition into its latest Forrester model. The system combines an infrared LED and a camera to monitor the driver for signs of inattention or sleepiness, warning them if needed. The system recognizes up to five individual drivers, so settings and preferences can be automatically adjusted for each person.
- However, the incorporation of a fingerprint recognition system does not fully guarantee that the vehicle cannot be stolen by any thief. For example, in a case in the past where the car thieves in Malaysia bypassed the fingerprint security measure by cutting off the end of the car owner's index finger and using it to start the car.
- Due to the COVID-19 pandemic, the production unit of automotive has fallen steeply at the global level. According to the European Automobile Manufacturers Association, EU-wide production losses due to factory shutdowns amount to at least 2,446,344 motor vehicles so far. In particular, biometric systems have been brought into the spotlight as a key technology for early detection, patient screening, and public safety monitoring in an effort to contain the spread of COVID-19, however, in the automobile sector, the demand reduced drastically due to low production of automotive and disruptions in the supply chain.
Key Market Trends
Fingerprint Recognition is Expected to Grow at a Significant Rate
- Fingerprint recognition technology evolved rapidly in the past few years, owing to the increased adoption of mobile devices and its increased adoption of biometric systems. Its application is majorly dominated by security and access control functions. This resulted in the advancements of fast-track technology in this segment, such as in display solutions.
- The increasing rate of adoption of fingerprint sensors across the consumer industries is expected to create significant opportunities for its adoption in the automotive sector. According to Credit Suisse, the global fingerprint sensing shipments are expected to reach about 1.1 billion units in 2020, which represents a projected increase of more than 200 million units in three years.
- The decreasing price of fingerprint sensors is making it affordable for various automakers to deploy them in their future cars without significantly impacting the price of the automobile, early adoption has prompted competitors as well to offer similar solutions. The average selling price of fingerprint sensors decreased from USD 5.5 in 2014 to USD 2.1 in 2019 and is expected to reach USD 2 in 2020.
- Also, the increasing trend of keyless entry in cars and push-button ignition systems has further triggered the development of fingerprint sensors in automobiles. The driver needs to place their finger on the capacitive sensor on the door handle to open the car door.
- Further, governments across the world are supporting the emergence of automated/connected vehicles. For instance, the standardization of ADAS and autonomous driving is accelerating in China. The Ministry of Industry and Information Technology of the Chinese government issued the key working points of Intelligent Connected Vehicle Standardization for 2018 to promote and facilitate the development of the intelligent connected vehicles industry. Such trends are expected to boost the deployment of fingerprint recognition technology in the industry.
North America Holds Significant Market Share
- North America is one of the largest automotive manufacturing hubs in the world. The automotive industry has shown marginal growth in recent years. The automotive sector in this region is facing a stiff competition from the used car market, which constituted about 75% of the total auto sales in the United States in 2018, according to the estimates by the US Bureau of Economic Analysis.
- Due to this, automotive manufacturers in the region rely on newer technologies, like biometrics, to create additional value and differentiation in the market.? The automotive sector in the region is the newly emerging market for the application of biometrics. The companies are strategically positioning and segmenting their biometric offerings toward the market.
- For instance, in November 2019, one of the key US-based players offering biometric for automotive, Nuance Communications, announced to spin-off its automotive biometric division, making a separate public company called Cerence Inc., catering only to the automotive market for biometrics. The company has mentioned this strategy to gain a first-mover advantage in developing biometric dedicated to the automotive industry.?
- The automotive companies in the region, including BMW, Mercedes-Benz, Volkswagen, and Ford, already mentioned about integrating biometric technology in their high-end luxury segmented cars with high-security features. The companies have mentioned exploring biometric technology in various areas, including vehicular access, ignition switch, vehicle immobilizer, rationalization, and health monitoring.?
Competitive Landscape
The biometric in automotive market is moderately competitive and consists of a few major players. In terms of market share, some of the prominent players currently dominate the market. However, with the advancement in the security platform services, new players are increasing their market presence thereby expanding their business footprint across the emerging economies. Some of the recent developments in the market are:
- September 2020 - Cerence partnered with BJEV to create an intelligent, personalized voice assistant experience with speech-enabled applications for BJEV ARCFOX line's first electric SUV: ?T. The vehicle's infotainment experience is powered by the Cerence Drive portfolio. Through Cerence Drive's hybrid architecture, ARCFOX's ?T's voice assistant integrates embedded and cloud-based technologies, including speech recognition, natural language understanding (NLU), text to speech (TTS), and speech signal enhancement (SSE).
- March 2020 - Shenzhen Goodix's fingerprint authentication solution for automobile made its first public appearance with the commercialization on Lynk & Co. 05. Based on the forward-looking trends in automotive applications, Lynk & Co. demonstrates various premium high-tech designs on its all-new coupe SUV.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05986863/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article