Biometric in the automotive market is expected to register a healthy CAGR of over 15.30% during the forecast period (2020 - 2025). As cars evolve into smartphones on wheels, the automotive industry is facing stiff competition from new entrants with disruptive ideas such as Tesla, where identity is a key battleground for the market. With the growth of the security sector, 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 need for increased efficiency and accuracy along with high protection are encouraging organizations to use biometric in the vehicle access system with the help of fingerprint recognition, voice recognition among others, thereby ensuring easy tracking and accuracy.
- The growing demand for authentication and high security are fueling the market towards the adoption of biometric among the automotive sector. Theft of vehicles has been a very challenging and daunting task to control, and these solutions are expected to help mitigate such risks from the manufacturers' end.
- The application of biometrics for identification is likely to expand across markets primarily led by convergence trends affecting biometrics technology providers, ICT networks, security, and cloud storage industries, along with the OEMs and device manufacturers, across the automotive sector. Integration of smartphone with automobiles are expected to further enable the market with new innovation and technology up gradation as has been evident with Bosch Perfectly Keyless.
Scope of the Report
Biometric technology system is based on behavioral and psychological characteristics used for verification and recognition of manual access. It is user-friendly, reliable and convenient identification & monitoring method. Biometrics across the automotive sector is utilized for identification and authentication in vehicles for a number of applications such as for vehicular access, ignition switch, vehicle immobilizer, rationalization, and health monitoring. As per the scope of the market, biometric application in automobiles is accessed through the help of fingerprint scanner, facial recognition, voice recognition, iris recognition, palm recognition, among others.
Key Market Trends
Fingerprint Recognition is Expected to Grow at a Significant Rate
- Fingerprint identification is the most widely adopted biometric identification as the probability of finding two same fingerprints is one in 64 billion, even with twins, hence increasing its credibility. The automotive manufacturers are highly adopting the system around the world, and a surge in demand from the automobile sectors has been witnessed from last few years.
- Further, the technological advancement in smartphones has helped in bringing down the cost of fingerprint-based biometric devices. These developments have had a huge impact on making these technology adoptions an enabler in the automotive industry.
- It has replaced the manual stamping system and helps in electronically registering the name, and identity through fingerprint in the biometrics system. Moreover, the accuracy and speed, with which the modern automated fingerprint identification system (AFIS) can work are helping to be deployed with the efficiency of the highest possible degree. This is further expected to expand the scope of the studied segment over the forecast period.
North America is Expected to be the Largest Market
- Automotive manufacturing companies such as BMW, Mercedes-Benz, Volkswagen, and Ford have introduced the biometric technology across North America region, however, in the earlier phase, the installation of such systems is limited to the luxury car segment. The accuracy with high-end protection, quick processing & easy tracking along with the recent boom in the automotive sector is expected to drive the market during the forecast period.
- Automobile companies across the region are dealing with automotive biometrics thereby focusing on various segments that include vehicular access, ignition switch, vehicle immobilizer, rationalization, and health monitoring. These segments are largely aimed to function with biometric solutions thereby showing a lot of interest towards incorporating biometrics in their auto products.
- Furthermore, the region is home to some of the prominent biometric providers across the automotive segments, such as, Synaptics Incorporated, Sensory Inc., Nuance Communications Inc. among others which are expected to push the end users toward fueling the demand for the biometrics integration.
The biometric in automotive market is moderately competitive and consists of a few major players. In terms of market share, some of the prominent players currently dominate the market. However, with the advancement in the security platform services, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
- May 2019 - Nuance Communications, Inc. announced that its automotive platform provides AI-powered voice recognition for select car models from Geely, ChinaŐs fastest-growing automotive manufacturer, in its GKUI smart ecosystem powered by ECARX, a technology company under Geely Group. GKUI is GeelyŐs innovative digital cockpit system, integrating infotainment, connectivity, and vehicle management into one smart in-car system.
- April 2019 - Fingerprint Cards and FutureCard Industries L.L.C. have partnered to bring contactless biometric payment cards to bank customers in the Middle East region. The card will feature Fingerprints' recently announced software platform for payments, FPC-BEP, and the T-Shape module which is part of the 1300-series from Fingerprints. It has ultra-low power consumption and is tailored to be integrated into smartcards using standard processes.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increase in Need for Safety and Security System Across the Emerging Markets of Automobile Sector
4.3.2 Growing Adoption of Automation in Automobile Sector Due to Emergence of Industry 4.0
4.4 Market Restraints
4.4.1 Lack of standardization
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Technology Snapshot
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Scanner Type
5.2.1 Fingerprint Recognition
5.2.2 Iris Recognition
5.2.3 Palm Recognition
5.2.4 Facial Recognition
5.2.5 Voice Recognition
5.2.6 Others Sconner Types
5.3.1 North America
5.3.4 Latin America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Synaptics Incorporated
6.1.2 Fingerprint Cards AB
6.1.3 Nuance Communications Inc.
6.1.4 Continental AG
6.1.5 Sensory Inc.
6.1.6 Shenzhen Goodix Technology Co. Ltd.
6.1.7 B-Secur Ltd.
6.1.8 VOXX International Corp.
6.1.9 EyeLock Inc.
6.1.10 HID Global Corporation
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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REPORT WRITING/ PRESENTATION
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