Emphasis on Component (Hardware, Software); Technology (Fingerprint recognition, Voice recognition, Iris recognition, Facial recognition); Sensor Type (Optical Sensor, Retinal Sensor, CMOS Fingerprint Sensors); Vehicle type (Passenger Cars, Commercial Vehicle); Sales Channel (OEMs and Aftermarket); Regions and Country
Automotive Biometric is expected to witness CAGR growth of more than 34% during the forecast period 2021-2027. Ever changing automotive industry is propelling the major automakers to equipped vehicles with innovative technology to offer high personalized vehicle experience. Rising demand for electric and driverless cars paired with growing adoption of sensor-based technology in the vehicles are enhancing the demand for Biometric technology in automotive sector. Furthermore, rising usage of text to speech and Natural language processing-based technology along with biometrics is expected to drive the market in near future. Moreover, with upcoming IRIS recognition and facial recognition technology which is expected to boost the authentication system in the vehicles would provide ample growth opportunities for the Automotive Biometrics suppliers operating in the market. Furthermore, growth in the number of vehicle theft is further expected to increase the demand with biometric system for vehicle security. In 2018, New Zealand had the highest car theft rate worldwide, with 1,172 occurrences per 100,000 inhabitants. Other countries with the highest car theft rate were Uruguay, Italy, and the United States.
Car theft rate, selected countries worldwide in 2018
Insights Presented in the Report
“Amongst Type, Software segment would witness significant growth”
Based on Component, the Automotive Biometric Market is segmented into Hardware, Software. Currently, hardware segment is expected to dominate the market, however the software segment is expected to witness significant growth during the analysis period. As per the Credit Suisse, global shipment of fingerprint sensing systems increased by 200 million units in the last 3 years and is expected to reach more than 1.1 billion units in 2020.
“Amongst Technology, Fingerprint recognition segment dominates the market in 2020”
Based on Technology, the Automotive Biometric Market is bifurcated into Fingerprint recognition, Voice recognition, Iris recognition, Facial recognition. In 2020, Fingerprint recognition segment dominated the market with more than 80% share and is expected to maintain its dominance throughout the forecast period. However, Voice recognition, Iris recognition segments are expected to witness increased adoption during the forecast period.
“Amongst Sensor Type, CMOS Fingerprint Sensors dominates the market”
Based on Sensor type, the Automotive Biometric Market is bifurcated into Optical Sensor, Retinal Sensor, CMOS Fingerprint Sensors. CMOS Fingerprint Sensors dominates the market. With the ongoing advancement of technology, the automotive sector is leading the integrate fingerprint recognition technology for improving vehicle safety, this is expected to drive the market for the segment.
“Amongst Vehicle Type, Passenger Cars segment dominates the market”
Based on Vehicle type, the market is segmented into Passenger Cars, Commercial Vehicle. Currently, biometric system is majorly deployed in passenger cars, owing to its increased adoption in luxury vehicle segment. However, increasing safety and security concern would propel the Commercial Vehicle owners to deploy advanced biometric solutions in their fleet.
“Amongst Sales Channel, OEMs segment dominates the market”
Based on Sales channel, the Automotive Biometric Market is bifurcated into OEMs and Aftermarket. OEMs segment dominated the market in 2020. However, Aftermarket segment is expected to witness significant growth during the forecast period. Growing concern related to safety and security of vehicle and drivers are propelling the automotive OEMs to deploy advanced biometric technology in their vehicle.
“Asia-Pacific is expected to witness significant growth during the forecast period”
For a better understanding of the demand of Automotive Biometric, the market is analyzed for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and Rest of World. Europe dominates the market in 2020, however, Asia-Pacific is expected to witness significant growth during the forecast period. Countries such as China, India, Thailand are expected to be major market for vehicle products, which is expected to drive for demand for technological advanced products in the automotive sector. Some of the major players operating in the market include Robert Bosch, Continental AG, Synaptics Incorporated, OSRAM Licht AG, Nuance Communications, Inc., Fingerprints Cards AB, Hitachi, Ltd., Safran S.A, Fujitsu Limited, IDEX Biometrics.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Automotive Biometric Market Covid-19 Impact
6. Automotive Biometric Market Revenue (usd Bn), 2019-2027f
7. Market Insights By Component
8. Market Insights By Technology
9. Market Insights By Sensor Type
10. Market Insights By Vehicle Type
11. Market Insights By Sales Channel
12. Market Insights By Region
13. Automotive Biometric Market Dynamics
14. Automotive Biometric Market Opportunities
15. Automotive Biometric Market Trends
16. Legal & Regulatory Framework
17. Demand And Supply Side Analysis
18. Value Chain Analysis
19. Competitive Scenario
20. Company Profiled
21. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future of the Automotive Biometric were the three major steps undertaken to create and analyze the demand and sales of the technology globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Automotive Biometric through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Automotive Biometric, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are component, technology, sensor type, vehicle type, sales channel. Further regional level analyses were conducted to evaluate the overall demand of Automotive Biometric in global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing demand for safety and security of vehicle and drivers, growth in sales of luxury vehicles, and technological advancement in the automotive sector etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Automotive Biometric market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of component, technology, sensor type, vehicle type, sales channel, and region.
The main objective of the Automotive Biometric Market Study
The current & future market trends of the Automotive Biometric Market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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