DUBLIN--(BUSINESS WIRE)--The "Automotive Biometric Market by Technology and Vehicle Type - Global Opportunity Analysis and Industry Forecast, 2018-2024" report has been added to ResearchAndMarkets.com's offering.
The global automotive biometric market was valued at $476 million in 2017, and is projected to reach at $1,128 million by 2024, growing at a CAGR of 12% from 2018 to 2024.
Increase in theft in passenger cars propels the market growth of the automotive biometric market. As passenger cars do not have much of a security, except a central locking system, the inclusion of biometric segment is projected to be of vital importance. The installation of biometric technology in compact cars can help in the reduction of car thefts involved with the incorporation of technologies such as fingerprint scanner. Since, fingerprints are not easily traceable, the chances of hacking the car is less. The authorized driver who are pre-registered with the biometric system will only be able to access the vehicle.
The different technologies used in the automotive biometric access systems are fingerprint scanner, facial recognition, voice recognition, and others. However, as the installation cost of biometric devices is high, there is a possibility that only certain car manufacturer can afford this technology in the cars to full extent. This acts as a restraint for the growth of the automotive biometric systems market.
In 2017, Europe dominated the global automotive biometric market. In addition, the demand for luxury vehicle is high in this region enabling the need for biometric technology. Based on technology, the fingerprint scan segment dominated the global automotive biometric market, in terms of revenue in 2017. Further, based on vehicle type, the passenger car segment is projected to lead the global market in the same year.
- Hitachi, Ltd.
- Fujitsu Limited
- Nuance Communications
- Voxx International Corporation
- Safran S.A.
- Synaptics Incorporated
ASSA ABLOY AB
- BioEnable Technologies Pvt. Ltd.
- Fingerprint Cards AB
- Methode Electronics, Inc.
Key Topics Covered:
2: Executive Summary
3: Market Overview
4: Automotive Biometric Market, By Technology
5: Automotive Biometric Market, By Vehicle Type
6: Automotive Biometric Market, By Region
7: Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/xmwfhg/global_automotive?w=4