Vehicle Access Control Market Size Worth $17.3 Billion by 2025: Grand View Research, Inc.

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Nov 05, 2019, 05:05 ET

SAN FRANCISCO, Nov. 5, 2019 /PRNewswire/ -- The global vehicle access control market size is expected to reach USD 17.3 billion by 2025, registering a CAGR of 10.6% from 2019 to 2025, according to a new report by Grand View Research, Inc. Growing concerns over safety and security of vehicles in developing as well as developed nations are expected to drive the demand for access control systems for vehicles over the forecast period. Vehicle access control solutions can also contribute toward efficient traffic management as they can also be used to control vehicle access across tollways, bridges, and public buildings, thereby driving the market growth.

Key suggestions from the report:

Implementation of innovative vehicle access control technologies, such as keyless entry, tracking, and fingerprint-enabled ignition switch, to enhance the driver's experience is expected to drive the market growth
The tollways segment dominated the vehicle access control market in 2018 and is expected to witness healthy growth over the forecast period owing to the continued implementation of RFID systems across highways to improve the traffic management
The commercial buildings segment is expected to witness the fastest growth owing to the growing need to prevent unknown or unauthorized people from bringing their vehicles inside commercial buildings
The Asia Pacific regional market is expected to register the fastest growth over the forecast period as manufacturers in the region are trying aggressively to reduce the deployment costs so that these systems can also be featured in low- and mid-end cars
Key market players, such as Continental AG, Robert Bosch GmbH, Hella GmbH, Nuance Communication, Smartrac N.V., and Lear Corporation, are pursuing various strategies to strengthen their foothold in the market.

Read 80 page research report with ToC on "Vehicle Access Control Market Size, Share, And Trends Analysis By Technology (Biometric, Non-Biometric, RFID), By Application (Tollways, Commercial Buildings, Residential Buildings), And Segment Forecasts, 2019 - 2025: https://www.grandviewresearch.com/industry-analysis/vehicle-access-control-market

The rising instances of car thefts all over the world are particularly necessitating the installation of vehicle access control systems. For instance, a total of 773,139 vehicles were stolen in the U.S. in 2017, which was approximately 1% higher than the previous year. Improved security features offered by the modern vehicle access control systems is particularly encouraging car owners to equip their cars with these systems.

The biometric segment is expected to witness the fastest growth owing to the ability of biometric systems to ensure a high level of security for vehicles. Biometric solutions can be based on various technologies, such as fingerprint recognition, face recognition, and iris recognition. Given that biometrics, such as fingerprints and irises, are characteristic to every individual and are unique and unrepeatable, any solution based on biometrics can provide unmatched security.

Grand View Research has segmented the global vehicle access control market based on technology, application, and region:

Vehicle Access Control Technology Outlook (Revenue, USD Million, 2014 - 2025)

Biometric
Non-Biometric
RFID
Others

Vehicle Access Control Application Outlook (Revenue, USD Million, 2014 - 2025)

Tollways
Commercial Buildings
Residential Buildings
Others

Vehicle Access Control Regional Outlook (Revenue, USD Million, 2014 - 2025)

North America

U.S.
Canada

Europe

Germany
U.K.
France

Asia Pacific

Japan
China
India

Latin America

Brazil
Mexico

Middle East & Africa

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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