Automotive End-Point Authentication Market: Likely To Experience A Tremendous Gr
Posted by Harshad Borde on January 2nd, 2020
The global market for automotive endpoint authentication is anticipated to witness a healthy growth over the coming years. According to Transparency Market Research (TMR), the vendor landscape fragmented with few market participants. The industry is monopolized by established vendors which makes it tough for new market participants to gain a foothold. Also, the costs involved with setting up production plants in this industry are quite high and tend to deter medium- and small-sized enterprises. Some of the key vendors participating in the global end-point authentication market are Synaptics Incorporated, Symantec Corporation, Garmin Ltd., Sonavation, Inc., and Fujitsu Ltd.
Our report predicts that the global automotive end-point authentication market will grow at healthy CAGR of 8.6% over the forecast period of 2017 to 2025. The market, which stood at an estimated valuation of US--content--.504 mn in 2017 is expected to touch US.115 mn by the end of the forecast period.
HVs and EVs to Emerge Popular Market Segments
The overall automotive end-point authentication market comprises of conventional and electric & hybrid vehicles based on the vehicle type. Our report mentions that while the conventional vehicle segment has held almost half of the overall market revenue till date, the segment of HVs and EVs is expected to gain prominence. Over the coming years, electric and hybrid vehicles segment is set to experience a surge in growth rate due to their growing popularity and utilization. Being eco-friendly and fuel efficient they will see their sales soar further.
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Considering geographical segmentation, Europe generated the most revenue with a whopping thirty percent share of the overall market. While based on growth rate, the Asia Pacific is foretold to see immense growth opportunities. This is attributed to the perpetually increasing demand of passenger vehicles in growing economies like China and India.
Regulatory Standards to Create Ample Market Opportunity
Significantly propelling the market is the stringent regulatory requirements globally that are compelling automobile manufacturers to develop vehicles having improved safety and security features, leveraging end-point authentication as a major technology. Besides, automotive end-point authentication technology aids in stemming thefts and damages to vehicles. This is also expected to catalyze growth in the market.
An important growth driver in the global automotive end-point authentication market is the stringent regulatory requirements in different parts of the world. Global standards such as Federal Motor Vehicle Standards, National Highway Traffic Safety Administration (NHTSA), and Euro standards are egging vehicle manufacturers to produce vehicles having enhanced safety and security features.
Safety Concerns to Augment Market Growth Further
At present, cars are connected with Bluetooth and WIFI, thus rendering them vulnerable to cyber-attacks. Hence, it has become essential to invest in a security system, which can prevent malfunction and unauthorized access. This can be attained by installation of an automotive endpoint authentication system that prevents cyber-attacks and unauthorized access to the vehicle or its peripherals.
Additionally, the rise in growth for smartphone application market is also augmenting the market growth for automotive end-point authentication. Moreover, in automotive sector, the Biometric Application programming Interface (BioAPI) would certainly boost the market growth for end-point authentication
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About the AuthorHarshad Borde
Joined: April 26th, 2019
Articles Posted: 526
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