Asia Pacific biometric vehicle access market will exhibit highest growth rate supported by escalating premium passenger car demand. China leads global electric vehicle industry and is expected to continue its dominance for EV during the forecast timeframe. Positive outlook for electric and hybrid passenger cars in China and Japan will increase the revenue share. Frequent occurrence of theft instances demanding enhanced security will support the regional growth during forecast period.
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Europe biometric vehicle access market will acquire maximum share owing to presence of major automobile manufacturer such as Ford, Mercedes, Volkswagen and BMW. The increase in production of passenger cars owing to increasing need for safety features will boost biometric vehicle access market revenue during forecast period.
Based on vehicle, industry is categorized in to PCV, LCV and HCV. Escalating demand for sedans, hatchback, SUVs and electric cars will support the revenue generation by PCV. Growth in commercial automobile segment is driven by increasing safety concerns regarding the goods and freight transported.
Technological advancements for quick authentication and user friendly high-end protection system will increase the demand for biometric vehicle access market during forecast period. Design standards specified by International Organization for Standardization (ISO) and International Electrotechnical Commission (IEC) ensures the system operationality resulting in improved performance. However, concerns related to owner’s data security and threats arising out of increasing electronic component in automobile will restrict the biometric vehicle access market. System dysfunctionality resulting in system failure and false authentication will limit the technology adoption during forecast period.
Design standards such as Bio API enables system to perform enrollment and verification of owner’s identity efficiently. Continuous technology upgradation paves growth opportunity to manufacturers to provide reliable & efficient authentication system. Reducing manufacturing and installation cost of system is the major challenge before the industry participants. Electronic components and design complexity increase the cost of overall system which leads to less adoption among cost sensitive consumers.
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Based on authentication, biometric vehicle access market is categorized in to face recognition system, fingerprint recognition, iris recognition and hand geometry. Fingerprint technology holds maximum share owing to its simplified operation. Moreover, major automobile OEMs including Mercedes-Benz, Volkswagen deploying fingerprint authentication in their premium and luxury automobiles will boost the demand. Iris recognition system adaption is likely to grow due to better security and reliability.
Based on application, biometric vehicle access market is divided as door, steering wheel, car mirror and on board. Door biometric access will dominate the overall industry during forecast period as it is crucial for safety and provides first access to vehicle. Efforts to increase driver control over automobile will support the adoption of steering wheel biometric access market share from 2017 to 2024.
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Major manufacturing companies in biometric vehicle access market are Synaptics, Techshino, Miaxis, BioEnable, BIODIT, Denso, EyeLock, FPC, Nymi Sonavation, Fujitsu, IriTech, KeyLemon, NEC, Nuance, Safran, Olea Sensor Networks, HID Global, VOXX.