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Biometric driver identification market worth $10 billion and growing fast

Biometric driver identification market worth $10 billion and growing fast
 

The market for biometric driver identification systems will grow from $10 billion in 2018 by an estimated 25 percent in 2019, driven by demand for enhanced safety and driving experience, according to market research firm Fact.MR. From 2017 to 2022, the global biometric driver identification market is forecast to grow by 19 percent CAGR.

Increasing digitization in the transportation industry has unlocked new revenue streams for fleet management companies, which will also fuel the adoption of biometric modules. Possible barriers to the market include concerns about high installation and maintenance costs, the firm says.

According to the “Biometric Driver Identification System Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2017 to 2022” report, sales of biometric driver identification systems in North America will exceed $1 billion in 2019, making it the most lucrative regional market. Passenger cars are expected to account for $1 billion in global sales, with $450 million-worth sold in luxury passenger cars. The market for driver fatigue and drowsiness monitoring systems will surpass $3 billion in 2019.

Facial biometrics are catching up to fingerprints as the auto application factor of choice, and AI-powered real-time recognition is identified by the report as a growing trend. The report also considers other factors in the market’s growth, and key industry players.

The 2020 Subaru Outback is among automobile markets featuring facial biometrics, according to a press conference at the New York Auto Show reported by USA Today.

A new “distraction mitigation system” integrating the infrared camera and facial recognition technology Subaru introduced in the Forester at the event last year is now featured in the Outback. The system identifies signs of driver fatigue or distraction, according to Subaru, and gives the driver and passengers audio and visual warnings.

The Outback was the car-maker’s best-selling model in the U.S. in 2018, as Subaru became the sixth-highest selling automotive brand in the country.

Hyundai has begun selling its Santa Fe in the Chinese market with fingerprint authentication.

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