“A research report on Automotive Biometric Identification Market was added by SDKI in its database which discusses the product as well as the scope of its market in detail. The report provides the business clients with an in-depth overview of the market, giving an analysis of the market trends, market size, market value and market growth over the forecast period on a compound as well as on a yearly basis. Further, the market study gives an overview of the industry on the basis of several factors such as the geographical extent, market segmentation, growth drivers and challenges prevalent in the market.
Global automotive biometric identification market was valued at $ 138 million in 2019 and is projected to grow at a CAGR of over 17%, to reach $ 303 million by 2024. The growth in the market is led by rising demand for vehicle safety and security across the globe. Moreover, rising adoption of advanced technologies, such as artificial intelligence and cloud connectivity in vehicles is further anticipated to positively influence the market. Based on technology, the global automotive biometric identification market segmented into fingerprint recognition, facial recognition, iris recognition, voice recognition and multimodal recognition. Of all, facial recognition technology dominates the market owing to rising luxury car sales, increasing vehicle thefts, and technological advancements in automotive security systems.
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Objective of the Study:
• To assess the demand-supply scenario of automotive biometric identification systems in various automotive segments globally.
• To analyze and forecast the market size of automotive biometric identification.
• To classify and forecast global automotive biometric identification based on vehicle type, technology, sensors and regional distribution.
• To identify drivers and challenges for global automotive biometric identification market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global automotive biometric identification market.
• To identify and analyze the profile of leading players involved in the manufacturing of global automotive biometric identification.
Some of the major players operating in automotive biometric identification are Continental AG, Robert Bosch GmbH, Fujitsu Limited, OSRAM Licht AG, Synaptics Incorporated, Precise Biometrics AB, Nuance Communications, Inc., Fingerprints Cards A, etc.
To perform the study, SDKI conducted primary as well as exhaustive secondary research. Initially, SDKI prepared an exhaustive list of automotive biometric identification manufacturers and dealers operating globally. Subsequently, SDKI conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, SDKI could include manufacturers which could not be identified due to the limitations of secondary research. SDKI analyzed product offerings, distribution channels, and regional presence of all major automotive biometric identification suppliers across the globe.
SDKI calculated the market size for global automotive biometric identification using a bottom-up technique, wherein manufacturers’ value sales data for different applications, were recorded as well as forecast for the future years. SDKI sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by SDKI.
Key Target Audience:
• Technology investors
• Dealers and distributors of automotive biometrics components and systems
• Governments and financial institutions
• End users of automotive biometric identifications
• Research organizations and consulting companies
• Associations, organizations, forums and alliances related to automotive biometric identification
• Industry associations
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as automotive biometric identifications manufacturers, distributors and dealers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.