(EMAILWIRE.COM, January 26, 2019 ) According to the new market research report "Biometric Identification Market for ICE, EV, & Autonomous Vehicles by Authentication Process (Fingerprint, Voice, Iris, Facial, Gesture, Multimodal), Sensor (CMOS, Optical, Retinal), Processing Component, Application, Wearable, and Region - Forecast to 2022", published by MarketsandMarkets™, The biometric identification market for automotive is projected to grow at a CAGR of 25.61% from 2017 to 2022, to reach USD 21.72 billion by 2022. Increasing demand for vehicle security and comfort is projected to fuel the demand for advanced technologies such as iris or facial recognition system.

On the other hand, the major factors hindering the growth of the biometric identification market in vehicles are the high cost of system or module and the possibility of potential failure of electronic components used for biometric systems.

Browse and in-depth TOC on “Biometric Identification Market"
105 - Tables
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200 - Pages

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“Optical sensors is estimated to showcase the fastest growing and is expected to dominate the biometric identification market, by components”

The market for optical sensors is projected to grow at the highest CAGR during the forecast period from 2017 to 2022. The optical sensors are lightweight and consume less power. As these components are used in the authentication system/modules such as fingerprint recognition, signature/keystroke recognition, and iris recognition, the increase in demand for biometric systems would directly influence the demand for components.

“Biometric vehicle access system to have the largest market in automotive biometric identification market”

The biometric vehicle access system is projected to be the largest segment of the biometric identification market for automotive, by the application. The growth of this segment can be attributed to the increasing focus on comfort, safety, and vehicle security in premium cars in North America and Europe. The manufacturers are now offering advanced features such as fingerprint authentication in high-end vehicles. With the increase in demand for luxury vehicles in Asia-Oceania, the market for biometric identification is expected to grow in the region in the near future.

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“Asia-Oceania and North America to dominate the market growth”

Asia-Oceania and North America are estimated to dominate the global biometric identification market for automotive. While Asia-Oceania is estimated to be the fastest growing market, North America is estimated to be the largest market during the forecast period. In Asia-Oceania, the growth of automotive biometric solutions has been observed owing to rapid technological changes and increasing demand for luxury vehicles, which have boosted the application of biometric and the overall biometric identification market. On the other hand, the market growth in North America can be attributed to advanced state-of-the-art technology and increasing demand for premium cars, which ultimately increases the application of biometrics in the automotive industry.

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Automotive biometric system manufacturers have adopted the strategies of new product development and geographical expansion to gain traction in the automotive biometric identification market. The key market players are Hitachi, Ltd. (Japan), Fujitsu (Japan), Synaptics Incorporated (U.S.), Robert Bosch GmbH (Germany), Continental AG (Germany), and Valeo (France).