Biometric Vehicle Access Market

Rising demand for premium and luxury vehicles fuels market growth.

The increased demand for premium and luxury automobiles is driving the market CAGR for biometric vehicle access. Biometric car entry systems are frequently seen as a luxury feature and can be found in high-end vehicles. Automakers are implementing more biometric solutions into their vehicles to suit this need as more consumers are willing to pay a premium for luxury features.

Furthermore, biometric vehicle access systems can be employed to provide drivers with a more personalized and easy experience. Some systems, for example, can alter the seat, mirrors, and climate control settings based on the driver's biometric profile. This can make driving more pleasant and enjoyable, which is especially significant in premium and luxury vehicles.

Another driver of market expansion for biometric vehicle access is the increased worry about vehicle theft and carjacking. Biometric vehicle access systems offer a higher level of security than standard key and fob systems, making them an appealing option for consumers worried about the safety of their automobiles.

For instance, some high-end vehicles have fingerprint scanners that only allow the registered driver to start the car. This stops car thieves from stealing the vehicle because they would need to obtain the registered driver's fingerprint to start the car. This might provide consumers with peace of mind if they live in locations where vehicle theft and carjacking are common.

In recent years, the growing popularity of connected cars has fueled the demand for sophisticated technologies such as IoT, AI, and machine learning, and so on. Furthermore, the demand for self-driving autonomous automobiles to bring comfort and convenience to the driver is driving the connected car technology forward.  The deployment of Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) technologies for improved mobility communication, on the other hand, is boosting the biometric vehicle access system market during the forecast year.

The use of modern information technology such as human-machine interface (HMI), passenger window touchscreens, and so on is driving market expansion. Furthermore, the implementation of iris recognition technology will expand the prospects for biometric vehicle access systems. The HMI also enables the driver's dashboard to function similarly to an iPad, with a voice-activated interface for browsing information from the cloud. These positive attributes will benefit the automobile industry, hence promoting market expansion.

The Global Biometric Vehicle Access Market Industry is experiencing a surge in demand for enhanced security features in vehicles. As vehicle theft rates continue to rise, consumers are increasingly seeking advanced security solutions. Biometric systems, which utilize unique physical characteristics such as fingerprints or facial recognition, offer a higher level of protection compared to traditional key-based systems. This trend is particularly evident in urban areas where vehicle theft is prevalent. The integration of biometric technology in vehicles not only deters theft but also provides convenience for users, thereby driving the growth of the Global Biometric Vehicle Access Market Industry.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America is predicted to occupy a considerably higher proportion of the worldwide automotive biometrics vehicle access system market due to the region's expanding disposable income and increased customer adaptability to such incredibly technologically advanced items.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Biometric Vehicle Access Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Biometric Vehicle Access Market accounts for the second-largest market share. The market is rapidly expanding as a result of increased passenger automobile sales in this region. Further, the German Biometric Vehicle Access Market held the largest market share, and the UK Biometric Vehicle Access Market was the fastest growing market in the European region

The Asia-Pacific Biometric Vehicle Access Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of increased demand for luxury passenger cars. Moreover, China’s Biometric Vehicle Access Market held the largest market share, and the Indian Biometric Vehicle Access Market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Biometric Vehicle Access Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Biometric Vehicle Accessindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Biometric Vehicle Access industry to benefit clients and increase the market sector. In recent years, the Biometric Vehicle Access industry has offered some of the most significant advantages to medicine. Major players in the Biometric Vehicle Access Market, including Voxx International, Fingerprint Cards Ab, Synaptics Incorporated, Methode Electronics, Voicebox Technologies, and Hid-Global and others, are attempting to increase market demand by investing in research and development operations.

Fingerprint Cards is a Swedish biometrics firm that designs and manufactures biometric solutions. Lennart Carlson founded Fingerprint Cards in 1997. Their products include fingerprint sensors, algorithms, packaging innovations, and biometric identification software. Bo Löfberg pioneered the creation of the fingerprint sensor in the 1980s. During his latter years, he focused on developing a fingerprint sensor, which he later patented before passing away in 1986. The sensor was barely halfway constructed when he died, but the license was sold to Lennart Carlson, who later founded Fingerprint Cards.

In 2019, Fingerprints Cards AB has introduced its first AEC-Q100 compliant biometric capacitive fingerprint sensor that meets automotive industry standards. This launch has benefited the automotive sector by providing increased security and convenience to the vehicle and the passenger.

Hyundai Motor Company, sometimes known as Hyundai Motors, is a South Korean multinational automobile manufacturer located in Seoul, South Korea, that was formed in 1967. Currently, the firm controls 33.88 percent of Kia Corporation and entirely owns two marques, namely Genesis Motor, a luxury automotive subsidiary, and Ioniq, an electric vehicle sub-brand. The Hyundai Motor Group is made up of these three brands. December 2020, Hyundai Motor Corp. created an improved biometric system for automobiles that allows drivers to unlock and start the engine with a light touch.

Furthermore, Hyundai's fingerprint recognition technology allows only authorized drivers to start and stop the car, reducing the risk of vehicle theft.