IMARC Group, a leading market research company, has recently releases report titled “Automotive Biometric Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive biometric market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Automotive Biometric Market?
The global automotive biometric market size reached US$ 863 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,048 Million by 2028, exhibiting a growth rate (CAGR) of 14.7% during 2023-2028.
What is Automotive Biometric?
Automotive biometric is an electronic device used to detect and authenticate vehicles for different applications, including ignition switches, immobilizers, rationalization, and health monitoring. It uses various biometric technology, such as fingerprint scanning, facial recognition, and voice recognition, in vehicles. It is utilized to provide personalized experiences for different drivers. It also gathers data on the steering wheel, accelerator, and other components to monitor the stress and anxiety level of drivers and ensure their comfort and safety.
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What are the growth prospects and trends in the automotive biometric industry?
The increasing focus toward driver and passenger safety in vehicles on account of the rising number of fatal road accidents represents one of the major factors driving the demand for automotive biometrics around the world.
Moreover, the growing awareness among the masses about vehicle safety is increasing the installation of automotive biometrics in vehicles across the globe. In addition, the increasing adoption of automotive biometrics in vehicles as insurance companies are offering a substantial discount on vehicles with biometric systems due to their numerous advantages, such as automatic preset adjustments, safe remote start-ups, and hands free features, is favoring the growth of the market.
Apart from this, rising sales of luxury and autonomous vehicles that are integrated with automotive biometrics systems are strengthening the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
- Fingerprint Scan
- Voice Recognition
- Facial Recognition
Breakup by Vehicle Type:
- Passenger Car
- Commercial Vehicle
Breakup by Sales Channel:
Breakup by Application:
- Vehicle Security System
- Driver Safety System
- Advanced Steering and Infotainment
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Aware Inc., BioEnable Technologies Pvt. Ltd., Continental AG, Fingerprint Cards AB, Fujitsu Limited, Hitachi Ltd., IriTech Inc., Methode Electronics Inc., Precise Biometrics AB, Shenzhen Goodix Technology Co. Ltd., Synaptics Incorporated and VOXX International Corporation.
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