November 13, 2017 -
Goode Intelligence has published a new analyst report forecasting that the biometrics market for the connected car will be valued at $969 million, with a CAGR of 96 percent over the six year period from 2018.
In “Biometrics for the Connected Car; Automotive Biometrics Market Analysis & Forecasts 2018-2023”, the market research firm predicts that it will take the market around three to five years to start deploying biometrics in greater volumes for in-car and supporting biometrics on smart mobile and wearable devices.
The report examines in detail the benefits of using biometrics in the auto market, the technologies that will dominate, disruptive business practices that biometrics could enable, effect of regulation on the market, sectors that will see the biggest growth, vendors set to dominate the market and opportunities for investment.
“This emerging area is set to awake the wider market with many leading car OEMs planning to launch top-of-the-range vehicles supporting biometrics from 2018,” explained Alan Goode, CEO and chief analyst, Goode Intelligence. “This in turn represents significant opportunity for those supplying biometric hardware and software to the auto industry – for many different applications, not just security. Identity becomes a key battleground for this market and, as with the mobile industry, biometrics is fast becoming the easiest way for people to prove their identity across a wide-range of end-points including the connected car.”
The report also identifies the following seven key applications and use cases for biometrics for the connected car: vehicle entry, engine start, personalization, in-car payments, insurance, health and wellness and car to home automation.
Earlier this year, the Future of Privacy Forum (FPF) and the National Automobile Dealers Association (NADA) released a new consumer guide that explains the guidelines governing the way personal data is collected and used by the latest generation of vehicles.