The Global Automotive Biometric Market was valued at USD 209 Mn in 2020 and is expected to reach USD 673.7 Mn by 2027, with a growing CAGR of 18.2% during the forecast period.
Automotive biometrics refers to electrical components that identify individuals supported by physiological and behavioral characteristics. Using biometrics, such as fingerprint recognition at doors and steering wheels, microphones in cars that recognize the owner's voice, and others. Biometric systems obtain the necessary data, analyze it with the existing records, and then grant the owner complete access once the match is made.
With the growing focus on the development of autonomous vehicles, demand for advanced automotive biometric is set to increase. In the automotive security industry, biometric systems have gained wide acceptance because of their high accuracy. Since biometric systems rely on biometric mechanisms such as fingerprinting, voice recognition, and iris scanning, among others, there is a probability that personal information can be compromised.
In addition to this, the growing demand for aesthetics and comfort features in automobiles has led to an increase in the use of automotive biometrics. Using automotive biometrics, the user can personalize his/her vehicle. A biometrics system in an automotive is connected to an interior camera that can recognize the driver's face and adjust the seat, mirror position, temperature, navigation, and other parameters according to the knowledge stored during a database. For instance, in September 2021, Genesis announced that it will begin rolling out of its own “Face Connect” technology, enabling vehicles to recognize human faces, open and close doors without using a smart key. Thus, this technological advancements proliferating the demand for automotive biometric market during the forecast period.
The Global Automotive Biometric Market Segmentation:
By Vehicle Type
By Technology
By Application
By Region
Automotive Biometric Market Company Profiles and Competitive Intelligence:
Based on the vehicle type, the passenger cars segment of the automotive biometric market held the largest market share of more than 60% in 2020 and is expected to show its dominance during the forecast period due to growing adoption in luxury vehicles
Based on the vehicle type, the automotive biometric industry is segmented into commercial vehicles and passenger cars. The passenger cars segment of the automotive biometric market held the largest market share of more than 60% and is expected to show its dominance during the forecast period owing to the growing adoption of luxury vehicles. Moreover, the increasing demand for improved security and personalized vehicles have been a major driver for segment growth of the automotive biometric market.
Based on the technology, the fingerprint scan segment in the automotive biometric market is growing at the highest CAGR during the forecast period owing to the wide use of security and reliability authentication
Based on the technology, the automotive biometric market has been segmented into fingerprint scan, voice recognition, facial recognition, and others. The fingerprint scan of the automotive biometric market is growing at the fastest CAGR during the forecast period owing to the wide use of security and reliability authentication. Moreover, the growing trend of keyless entry in cars and push-button ignition systems has spurred the development of fingerprint sensors in automobiles industry. For instance, a finger needs to be placed on the capacitive sensor on the door handle before the door will open. Thus, proliferating the segment growth of automotive biometric industry during the forecast period.
Based on region, North America is expected to dominate the automotive biometric market during the forecast period
North America is expected to dominate the automotive biometric market during the forecast period owing to the increasing adaptability of consumers for technologically advanced products. Moreover, the automotive manufacturers in the region rely on newer technologies, such as biometrics, to create additional value and differentiation in the market. The companies are strategically positioning and segmenting their biometric offerings toward the market. For instance, in November 2019, one of the leading US-based players are providing biometric for automotive, Nuance Communications, introduced to spin-off its automotive biometric division, creating a separate public company referred to as Cerence Inc., catering best to the automotive market for biometrics. The company has stated this approach to benefit the first-mover advantage in growing biometric dedicated to the automotive industry.
The report also provides an in-depth analysis of automotive biometric market dynamics such as drivers, restraints, opportunities, and challenges:
Drivers
Restraints
Opportunities
Challenges
COVID-19 Impact on the Automotive Biometric Market Analysis:
The global biometrics market and its technologies are still emerging, largely due to the rapid development of biometric use-cases and the shift to multiple biometric modalities encompassing physiological and behavioural factors. Furthermore, the COVID-19 pandemic and changing user preferences for biometric identification is expected to drive market growth during the forecast period. Access control and identity management based on fingerprint biometrics have been the preferred method since the prevalence of its application and commercialization around the turn of the century. The changing effects of the pandemic have had the most dramatic impact on identity and access management within the physical and digital security environment. Face recognition gained traction before the spread of the pandemic, and contactless biometric solutions must become the most popular because they could alleviate issues surrounding health and safety. This industry will see widespread adoption much sooner than initially anticipated.
*Note: A detailed analysis is specific to the automotive biometric market will be provided in the report
The report also provides an in-depth analysis of key trends in the automotive biometric market:
The report also provides an in-depth analysis of recent news developments and investments:
The unique insights provided by this report also include the following:
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Market Introduction
Research Methodology
Executive Summary
Premium Insights
Market Overview & Competitive Landscape
Market Segmentation (Market Size and Share Analysis)
Market Dynamics
COVID – 19 Opportunity Mapping
Regional Market Analysis
Company Profiles
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