[FURL=https://www.industryarc.com/Research/Automotive-Biometric-Market-Research-502034?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Global Automotive Biometrics Market[/FURL] size is forecast to reach $1,650 million by 2026, estimated to grow at a CAGR of 13.1% during 2021-2026. The changing automotive industry is leading to the major automakers to bring innovative technology and provide high personalized vehicle experience. The demand for electric and driverless cars, and increased applications of sensor-based technology are highly enhancing the Automotive Biometrics. The rising usage of text to speech and Natural language processing based technology in addition to biometrics will drive the market growth. Moreover, the upcoming IRIS recognition and facial recognition system will highly boost the authentication system in the vehicles which will provide growth opportunities for the Automotive Biometrics market.Key Takeaways
In 2020, the Automotive Biometrics market was dominated by Europe owing presence of major automakers such as Ford, Mercedes and so on leading to the development of efficient connected vehicles enhancing the demand for latest authentication technology.
The growing use of fingerprint recognition system for authentication in order to reduce the risk of vehicle theft and improve vehicle safety are surging the growth of the Automotive Biometrics market.
The increasing demand for connected vehicles and the deployment of information technology such as human machine interface and passenger window touchscreens are highly accelerating the growth of the market.
The increasing use of connected devices in the vehicles will lead to raise the risk of cyber-attacks which will thus hamper the Automotive Biometrics market.
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Automotive Biometrics Market Segment Analysis - By Geography
In 2020, Europe dominated the Automotive Biometrics market with a share of more than 47.8%, followed by North America and Asia Pacific. The increasing sales of passenger cars in this region are highly escalating the growth of the market. The deployment of electric vehicles and the availability of major automakers such as Ford, Mercedes, Volkswagen and BMW are highly enhancing the Automotive Biometrics market as these higher end vehicles are more likely to adopt vehicle biometrics.
Automotive Biometrics Market Drivers
Growing demand for Connected Vehicles
Deployment of Information Technology
Automotive Biometrics Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Automotive Biometrics market. In 2019, the market of Automotive Biometrics has been consolidated by the major players – Fingerprint Cards Ab, Fujitsu Ltd., Hitachi Ltd. Methode Electronics, Nuance Communication, Safran SA, Synaptics Incorporated, VOXX International, Voicebox Technologies and Denso Corporation.
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