Automotive Biometric Market Share, Industry Growth and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Automotive Biometric Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive biometric market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What is the Growth Rate of the Automotive Biometric Market?

The global automotive biometric market size reached US$ 863 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,048 Million by 2028, exhibiting a growth rate (CAGR) of 14.7% during 2023-2028.

Automotive biometrics is an advanced technology used to authenticate and verify vehicle access, immobilization, ignition, and other functionalities through biological characteristics such as voice recognition, facial recognition, fingerprints, and retinal scans. By utilizing these unique features, it significantly enhances vehicle security and reduces the likelihood of theft or unauthorized access. Additionally, it tracks driver stress and anxiety levels by collecting data on the accelerator, steering wheel, and other components, ensuring a comfortable and safe driving experience. The growing demand for increased vehicle security and driver safety is driving the rapid adoption of automotive biometrics in the global market.

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What are the growth prospects and trends in the Automotive Biometric Industry?

The global automotive biometric market is primarily driven by the rising integration of biometric technology in automobiles. Moreover, there is a rise in the demand for autonomous vehicles with advanced technologies, such as machine learning (ML), the internet of things (IoT), and artificial intelligence (AI). In line with this, the increasing use of Vehicle-to-Infrastructure (V2I) and Vehicle-to-Vehicle (V2V) technology to enhance mobility communication is positively influencing the market growth.

Additionally, vehicles with biometric systems are receiving lucrative discounts from insurance companies as they have in-car payments, automatic preset adjustments, safe remote start-up, myriad passenger safety benefits, and hands-free features. Along with this, the rising collaborations among automotive original equipment manufacturers (OEMs) and wearable companies to collect biometric data have catalyzed market growth.

Furthermore, the increasing usage of human-machine interface (HMI), which enables the vehicle dashboard to function as an iPad while using the voice-activated interface to access cloud data, is contributing to the market growth. Other factors, including the rising need for safety, technological advancements, and escalating demand for aesthetics and comfort features in cars, are also anticipated to propel the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Technology:

Fingerprint Scan
Voice Recognition
Facial Recognition
Others

Breakup by Vehicle Type:

Passenger Car
Commercial Vehicle

Breakup by Sales Channel:

OEMs
Aftermarket

Breakup by Application:

Vehicle Security System
Driver Safety System
Advanced Steering and Infotainment
Others

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Aware Inc.
BioEnable Technologies Pvt. Ltd.
Continental AG
Fingerprint Cards AB
Fujitsu Limited
Hitachi Ltd.
IriTech Inc.
Methode Electronics Inc.
Precise Biometrics AB
Shenzhen Goodix Technology Co. Ltd.
Synaptics Incorporated
VOXX International Corporation

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