Technavio report forecasts global automotive biometric market 2017-2021
Technavio published a new report titled “Global Biometric Market in the Automotive Sector, 2017-2021”, which forecasts that the market will grow steadily during the next four years and see a CAGR increase of more than 19 percent by 2021.
The report states that one of the main growth drivers of the market is the vulnerability in existing keyless entry systems in which criminals use hacking devices to break into vehicles.
To combat this, automotive original equipment manufacturers (OEMs), suppliers, and keyless entry system manufacturers are expected to invest in advanced technologies such as biometrics for vehicle access over the next four years.
The report also finds that EMEA will lead other geographical regions to become the major revenue contributor to the market throughout the next forecast period.
Other major market drivers include the presence of major automotive manufacturers such as BMW, Audi, Mercedes-Benz and Volkswagen in Europe as well as the demand for sophisticated design and advanced features in automotive technologies from countries in the Middle East.
The market is characterized by the presence of a considerable number of biometric system manufacturers and is competitive. The evolution of biometric technology has resulted in its application in several other functionalities other than vehicle security systems.
The report says that the strong competition among the industry’s players is driving automotive companies to offer features that will provide a more personalized experience for drivers, resulting in the increased demand for biometrics including voice and facial recognition.
Biometric vendors are continuously increasing their R&D efforts to commercialize the usage of biometric systems in automobiles while automotive OEMs continue to develop advanced technologies to introduce innovative products that will serve the industry’s changing needs, according to the report.
To acquire advanced technologies and enter new industry verticals, several biometric companies have also begun implementing mergers and acquisition strategies.
The report identifies the market’s leading vendors as BioEnable, Miaxis, Sonavation, Synaptics and Techshino, as well as highlights other prominent vendors including BIODIT, DENSO, EyeLock, Fingerprint Cards, Fujitsu, HID Global, IriTech, KeyLemon, NEC, Nuance, Olea Sensor Networks, Safran, and VOXX International.
The low-cost of fingerprint scanners is driving automotive companies to incorporate their vehicles with this technology, fueling market growth in the consumer vehicle segment.
The report estimates that the consumer vehicle segment dominated the market during 2016 as the increasing preference for advanced technology features is compelling automotive manufacturers to offer biometrics-enabled safety features in their premium vehicles.
At last month’s CES show, several firms demonstrated integrated biometrics technology for vehicle authentication including: Continental’s fingerprint and facial recognition technology for vehicle personalization and authentication; Delta ID and Gentex’s iris-based in-car biometrics system that authenticates the driver and delivers customized security and convenience features, and; Chrysler’s new Portal concept minivan with biometric technology.