The biometric vehicle access system market, in terms of value, is projected to grow at a CAGR of 14.06% from 2016 to 2021
Seattle, WA -- (SBWIRE) -- 01/11/2017 -- The report "Biometric Vehicle Access System Market by Authentication type (Fingerprint, Voice), Future Technology (Iris Recognition System), Vehicle Type (Passenger Car, Battery Electric Vehicle), and Region - Global Forecast to 2021", The biometric vehicle access system market is estimated to be USD 442.7 Million in 2016, and is projected to grow to USD 854.8 Million by 2021, at a CAGR of 14.06%. The growing demand for multifactor authentication and increasing legislations for biometric applications are some of the key drivers fueling the growth of biometric vehicle access system market.
Browse 68 market data tables and 58 figures spread through 150 pages and in-depth TOC on "Biometric Vehicle Access System Market - Global Forecast to 2021"
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Fingerprint recognition system to hold the largest share in the biometric vehicle access system market, by authentication type
The fingerprint recognition system is estimated to account for the largest share in the biometric vehicle access system market. The fingerprint recognition system is more widely present in the market as compared to voice recognition system for vehicle access. Biometric vehicle access systems are still in a growing phase. Additionally, increasing industry-wide standards such as the BioAPI would trigger growth in the biometric vehicle access system market.
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Iris recognition systems: A promising market due to increased demand for safety features
Asia-Pacific market is projected to have the largest market share in iris recognition systems by 2025. Growing development in advanced technologies and rising vehicle production is a contributing factor for this growth. The growing demand for safety features as a result of government regulations has triggered the market for biometric vehicle access systems.
Europe: Largest market for biometric vehicle access systems
Europe is estimated to account for the largest share, in terms of value, of the biometric vehicle access system market in 2016. Major OEM's like Mercedes-Benz, BMW, Ford, and Volkswagen are developing these range of technologies and innovating in different ways to strengthen the security of vehicle. The automotive industry in Europe has the most advanced technologies in comparison to Asia-Pacific or North American regions.
The report analyzes all major players in the biometric vehicle access system market, including Safran S.A (France), Hitachi Ltd. (Japan), Fujitsu Ltd. (Japan) and Nuance Communications (U.S).
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