Overview:
The global report dealing with the changes in the automotivebiometric market is set to cross a valuation worth USD 1,128 million by 2025while moving forward with a 12% CAGR for the forecast period of 2019 to 2025.Market Research Future (MRFR) includes details and discusses possibilities ofthe market by analyzing factors like the impact of stringent safety protocols,growing inclusion of methods to lessen the contact, development of theautomotive infrastructure in emerging countries, growing consumption capacity,and others. Increasing investment to back research and development andcollaboration between brands are expected to provide thrust to the globalmarket as well.
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Automotive Biometric Market Segmentation:
MRFR analysts have segmented the global automotive biometricmarket on the basis of application, vehicle type, and technology to get datathat would help in forming insights. Such insights can assist in developingtactical moves and spurring the profit margin.
By technology, the global study of the automotive biometricmarket includes a study of face recognition, fingerprint scan, voicerecognition, and others. The fingerprint scan segment had the largest marketshare in 2018.
By vehicle type, the report on the automotivebiometric market has been segmented into passenger cars and commercialvehicles. The passenger car segment reported the largest market share in 2018and it would continue its dominance during the forecast period.
By application, the global discussion on the automotivebiometric market includes segments like driver safety system, vehicle securitysystem, and advanced steering and infotainment. The vehicle security systemsegment had the largest market share and it will retain its position over thereview period.
AutomotiveBiometric Market Regional Analysis:
In 2018, North America led the global market and it isexpected to continue its influence over the market during the review period.High investment capacity and the inclusion of advanced technologies areexpected to boost the regional market.
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Competitive Landscape:
Synaptics Incorporated (US), Fujitsu Ltd (Japan), VOXXInternational (US), Methode Electronics (US), Hitachi Ltd (Japan), VoiceboxTechnologies (US), Nuance Communications (US), Safran S.A (France), FingerprintCards AB (Sweden), Hid-Global (US), and others are companies that have beenincluded for a comprehensive study of the automotive biometric market.
Industry News:
In August 2020, Intellicheck announced that they wouldcollaborate with Ipsidy to introduce a better suite of comprehensive real-timefacial biometric identity proofing and state-of-the-art multi-factorauthentication solutions. This will help companies in launching authenticationprograms with greater than 99% accuracy that would boost any person-not-presenttransaction. It can be used on the web or in a mobile application. Thisauthentication process will include Intellicheck’s leading remote IDauthentication with Ipsidy’s top facial liveness and biometric matchingservices. The automotive sector is set to witness a substantial growth due tothis upgradation in technology.
In July 2020, Cerence Inc., known for itscontributions using AI for a world in motion, launched Cerence Pay, which wouldensure a secure, contactless payment experience in cars using voice-powered AI.This entire process will depend on steps where the system will anticipatedrivers’ needs and then provide a seamless payment transaction encompassingways securing intent to authentication via voice and facial biometrics and thenthrough to purchase. The company is currently engaged in collaboration withAudi to enrich the experience.
However, the COVID-19 crisis may have triggered someloss as the automotive sector got pummeled by lockdown and halts in production.The consumption rate may also witness a drastic drop. Such scenarios can affectthe inclusion of the machine in the mainframe.
Table Of Contents:
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
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About Market Research Future:
Market Research Future (MRFR) is a global market researchfirm that takes great pleasure in its services, providing a detailed andreliable study of diverse industries and consumers worldwide. MRFR'smethodology integrates proprietary information with different data sources toprovide the client with a comprehensive understanding of the current keytrends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted bya competent team of research analysts who provide useful analytics and data ontechnological and economic developments. Our deemed analysts make industrialvisits and collect valuable information from influential market players. Ourmain goal is to keep our clients informed of new opportunities and challengesin various markets. We offer step-by-step assistance to our valued clientsthrough strategic and consulting services to reach managerial and actionabledecisions.
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