Global Biometric Market in the Automotive Sector to grow at a CAGR of 19.37% during the period 2017 - 2021; Finds New Report

Report forecast the global biometric market in the automotive sector to grow at a CAGR of 19.37% during the period 2017-2021.

Biometrics involves the authentication and identification of an individual by one or more unique biological traits such as fingerprint, facial, iris, voice, and vein recognition. Biometric technologies are considered to be more reliable when compared to authentication via numeric codes and physical devices. With advances in signal and image processing technologies, pattern recognition, and sensors and readers; a number of biometric technologies, such as a keystroke, ear, electroencephalogram or electrocardiogram (ECG), gait, and palm print recognition have been developed to enable foolproof identification of individuals.

The report covers the present scenario and the growth prospects of the global biometric market in the automotive sector for 2017-2021. To calculate the market size, the report provides an exhaustive list of all global vendors that provide biometrics in the automotive sector.

The market is divided into the following segments based on geography:

• Americas
• APAC
• EMEA

According to the report, one driver in market is emerging markets driving the automotive sector. Over the past few years, the demand for automobiles from developed countries has been largely volatile due to the economic slowdown. However, the emerging markets depict a robust growth in the automobile sales due to strong economic growth, ideal demographics, and elevated purchasing power of consumers. The growth in emerging markets with ongoing industrialization and global trade activity, especially in the BRIC countries (Brazil, Russia, India, and China), have been vigorous. Over the past few years, China has maintained its position as the world's largest automotive market. The automotive market in India is dynamic in nature and rapidly growing. Many auto OEMs are entering the market to tap its huge potential. The economic growth in the BRIC nations has propelled the growth rate for the automotive industry in present times.

Further, the report states that one challenge in market is low awareness level among consumers. The fact that the system is fail-safe is yet to penetrate the customers' mindset, and thus, biometrics remains confined to luxury and mid-level cars. Therefore, the technology should be marketed aggressively so that the end-users are convinced of its robustness and security. Further, sources indicate that the system is quite capable of deleting a person's data in error, and may deny vehicular access to any person if the vehicle's owner refuse to do so. Such a situation may arise when a new (hired) driver takes to the wheel, or when the car changes ownership. The fear that an unwanted intruder (in the form of a former driver or former owner) may create a security threat is creating confusions and OEMs must tackle such issues before they gain consumer confidence.

Global Biometric Market in the Automotive Sector 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global biometric market in the automotive sector: BioEnable, Miaxis, Sonavation, Synaptics, and Techshino.

Other Prominent Vendors in the market are: BIODIT, DENSO, EyeLock, Fingerprint Cards, Fujitsu, HID Global, IriTech, KeyLemon, NEC, Nuance, Olea Sensor Networks, Safran, and VOXX International.

Market driver

• Emerging markets driving the automotive sector.
• For a full, detailed list, view our report

Market challenge

• Low awareness level among consumers.
• For a full, detailed list, view our report

Market trend

• Popularity of voice recognition biometrics in the automotive sector.
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 69 pages and 20 Exhibits “Global Biometric Market in the Automotive Sector 2017 - 2021” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by technology, Market segmentation by end-user, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Five forces analysis, Vendor landscape, Appendix.

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