Biometric Identification Market Type, Growth and Demand Forecast to 2022

Posted by swapnil on April 4th, 2019

The Biometric Identification Market for automotive, by value, is projected to grow at a CAGR of 25.61% from 2017 to 2022, to reach USD 21.72 billion by 2022. Factors such as increased focus on safety, security, and comfort are expected to fuel the demand for advanced biometric identification technologies such as iris or facial recognition system. The present scenario of increasing sales of luxury vehicles is estimated to push the demand for fingerprint recognition and multimodal recognition system.

With the increase in the application of biometric systems, especially in passenger cars, the demand for an efficient authentication system is expected to rise. The multimodal authentication system, which requires two levels of authentication, is expected to have significant demand in the near future. In the case of commercial vehicles fleet management services, the Federal Motor Carrier Safety Administration (FMCSA) has made a mandate to use the Electronic Logging Device (ELD) by 2019, which will eventually drive the biometric identification market for commercial vehicles.

The major companies profiled in the study are Hitachi, Ltd. (Japan), FUJITSU (Japan), Safran (France), Synaptics Incorporated (U.S.), Nuance Communications, Inc. (U.S.), Methode Electronics (U.S.), HID Global Corporation/ASSA ABLOY AB (U.S.), VOXX International Corp. (U.S.), Fingerprint Cards AB (Sweden), Voicebox Technologies Corporation (U.S.), Robert Bosch GmbH (Germany), Continental AG (Germany), and Valeo (France).

With increasing focus on comfort and vehicle safety, several advancements have led to the improvement in biometric systems, functions, and effectiveness. In the current scenario, the voice recognition system dominates the biometric identification market owing to its varied applications such as authentication, multimedia, and navigation. However, as voice is not a reliable process for authentication, fingerprint authentication and iris recognition are expected to be potential solutions. Leading manufacturers such as FUJITSU (Japan) offer fingerprint authentication as the prominent product in the market. Alternatively, the iris recognition system is gaining traction in the market with the increase in demand for luxury cars. As luxury cars are equipped with high-end functions such as in-vehicle health monitoring, memory seats, and memory steering, the demand for the authentication system has increased. Hence, the manufacturers can focus on their R&D activities to formulate new designs and specifications in fingerprint and iris technologies to flourish in the biometric identification market.

The increase in demand for luxury features is expected to boost the demand for in-vehicle health monitoring. The applications such as memory seats and steering are expected to grow at a fast rate during the forecast period. With the adoption of new high-end technology in cars, the North American region is estimated to be the largest market for biometric systems and components. The biometric solutions include features such as vehicle access and in-vehicle features, which are available in premium vehicles as well as a few mid-level cars. With the increase in demand, car manufacturers are expected to offer these features in the mid-level car segment along with additional features, which will directly influence the biometric identification market. Hence, the biometric system/component manufacturers can focus on formulating strategies to meet the increasing demand for in-vehicle biometric solutions.

Target Audience:

  • Biometrics technology suppliers
  • Biometric system/component manufacturers
  • Dealers and distributors of automotive biometrics components and systems
  • Industry associations
  • Raw material suppliers
  • Automobile organizations/associations
  • Traders and distributors of biometric vehicle access systems
  • Automotive original equipment manufacturers (OEM)

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