Automotive Biometric Market Size Is Projected To Reach USD 6.45 Billion By 2032 | Driven By Rising Adoption Of Autonomous Vehicles | Report By SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The rapid growth of the automotive biometric market is driven by growing consumer interest in advanced features, heightened security worries, and technological advancements in biometrics. In the United States, important factors driving this industry comprise the desire for advanced cars, the requirement for heightened security measures, and favorable governmental policies.

Austin, Aug. 30, 2024 (GLOBE NEWSWIRE) -- The Automotive Biometrics Market Share is expected to reach a value of USD 6.45 billion by 2032 and grow at a CAGR of 16.39% over 2024 and 2032. Exploring new uses for biometrics, advancing technologies, addressing privacy issues, focusing on specific markets, partnering with tech companies, tapping into new markets, and utilizing the Internet of Things are essential for expansion.

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Increasing focus on security, convenience, and personalization is promoting the automotive biometric market.

In the United States, the use of biometric systems in vehicles is quickly on the rise, as technological advancements continue to influence global trends.
The US-based car manufacturers have experienced a notable increase in the use of fingerprint scanners for starting the engine and securing doors, with projected market adoption reaching 25% by 2025. Moreover, there is a growing trend in the use of facial recognition technology for driver identification and personalized settings, leading to a 15% annual growth rate in this specific sector in the US market.
In the United States, the adoption of biometric technology in automobiles is rising.

Recent industry data shows that the number of vehicles with biometric features has risen by 25% in the last year. Several reasons contribute to this expansion, such as rising consumer need for better security, the growing popularity of connected cars, and the declining prices of biometric sensors.

There is a growing demand in the automotive biometric market, specifically for fingerprint recognition technology.

This sector presently has a strong control of 65% because of its high level of accuracy, dependability, and ease of execution. The use of facial recognition technology is also becoming more popular, making up 20% of the market. The growth is being driven by its integration with advanced driver assistance systems (ADAS) and its capability to offer contactless authentication.

Voice recognition, although currently a smaller portion at 10%, is projected to grow quickly as natural language processing and noise cancellation technologies improve. Other biometric modalities, like iris recognition and palm vein scanning, account for the remaining 5% of the market.

Automotive Biometric Market Report Scope :

Report Attributes	Details
Market Size in 2023	USD 1.4 Billion
Market Size by 2032	USD 6.45 Billion
CAGR	16.39% CAGR by 2024-2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Growth Drivers	Electric vehicles are becoming more popular because people are becoming more aware of the environmental impact. Government subsidies and increased vehicle range all contribute to the adoption of electric vehicles.
Major Regions Covered	North America Europe Eastern Europe Western Europe Middle East & Africa Middle East Africa Latin America
Major Companies Listed in the Report	Hitachi, Ltd., Hyundai Motors, BioEnable Technologies Pvt. Ltd, Fujitsu Limited, Voxx International Corporation, Safran S.A, Synaptics Incorporated, Nuance Communications, HID Global Corporation, Fingerprint Cards AB, and Methode Electronics, Inc.

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SNS Insider analysis indicates that North America will be growing at CAGR of 17.01% over forecast period.

Increasing disposable income, growing urbanization, and a preference for advanced safety features are driving the adoption of automotive biometric technologies in the NA region. US and Canada, with their large automotive industries, are in the forefront.

Fingerprint recognition continues to be the leading technology, comprising more than 60% of market share because of its affordability and dependability. It is anticipated that the usage of biometric steering wheels will increase by 15% each year due to their capacity to stop unauthorized entry and enhance driver safety.

Key External factors: Impact on Automotive Biometric Market

Advancements in technology and increasing consumer demand for enhanced security and convenience are driving rapid growth in the automotive biometric market. The popularity of facial recognition systems is growing rapidly, with adoption rates rising 25% every year. This trend is driving by the increasing popularity of advanced driver assistance systems (ADAS) that use facial recognition to detect driver tiredness and inattentiveness.

Furthermore, fingerprint recognition technology is experiencing a revival in popularity, as 40% of newly released car models now come equipped with fingerprint-based ignition systems. This is mostly because of its high level of precision and user-friendly design.
Competitive Landscape:

• Major players in the Automotive Biometric Market are strategically placing emphasis on improving user experience and security.
• AutonomIQ and SenseTime are dedicating significant resources to enhance the precision and efficiency of facial recognition systems, resulting in a 25% rise in authentication success rates over conventional approaches.
• Fingerprint Cards AB is diversifying its range of products to incorporate in-display fingerprint sensors, providing a 10% decrease in production expenses and a smoother user interface.
• Players are collaborating with car makers to incorporate biometric solutions in vehicles, leading to a 15% rise in the use of biometric features in top-tier models.

Key Takeaways:

• The automotive biometric market is rapidly expanding due to the rising need for improved security, convenience, and personalized experiences.
• These biometric solutions remove the necessity for standard keys and offer increased security against theft and unauthorized access. With the advancement of autonomous driving technology, the importance of biometric authentication for safe and secure operations increases.
• Biometric systems have the capability to observe the health and fatigue of drivers, which can aid in avoiding accidents and enhancing road safety. Although the upfront expense may pose a challenge, the enduring advantages in terms of safety and ease of use are driving acceptance.
• The automotive biometric market is set for substantial expansion as manufacturers keep incorporating these technologies into their vehicles to meet the changing demands of consumers.

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Table of Contents – Major Key Points

1. Introduction

1.1 Market Definition

1.2 Scope (Inclusion and Exclusions)

1.3 Research Assumptions

2. Executive Summary

2.1 Market Overview

2.2 Regional Synopsis

2.3 Competitive Summary

3. Research Methodology

3.1 Top-Down Approach

3.2 Bottom-up Approach

3.3. Data Validation

3.4 Primary Interviews

4. Market Dynamics Impact Analysis

4.1 Market Driving Factors Analysis

4.1.1 Drivers

4.1.2 Restraints

4.1.3 Opportunities

4.1.4 Challenges

4.2 PESTLE Analysis

4.3 Porter's Five Forces Model

5. Statistical Insights and Trends Reporting

5.1 Vehicle Production and Sales Volumes, 2020-2032, by Region

5.2 Emission Standards Compliance, by Region

5.3 Vehicle Technology Adoption, by Region

5.4 Consumer Preferences, by Region

5.4 Aftermarket Trends (Data on vehicle maintenance, parts, and services)

6. Competitive Landscape

6.1 List of Major Companies, By Region

6.2 Market Share Analysis, By Region

6.3 Product Benchmarking

6.3.1 Product specifications and features

6.3.2 Pricing

6.4 Strategic Initiatives

6.4.1 Marketing and promotional activities

6.4.2 Distribution and supply chain strategies

6.4.3 Expansion plans and new product launches

6.4.4 Strategic partnerships and collaborations

6.5 Technological Advancements

6.6 Market Positioning and Branding

7. Automotive Biometric Market Segmentation, By Sharing System

• Docked
• Dock-less

8 . Automotive Biometric Market Segmentation, By Bike Type

• Traditional/Convectional Bikes
• E-Bikes

9. Regional Analysis

10. Company Profiles

11. Competitive Landscape

12. Use Case and Best Practices

13. Conclusion

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