Industry Background:
Automotive biometrics, a radical approach which has transformed driving experience, vehicle safety, and comfort features. It has already paved its way in the industry more than a decade and there has been significant increase in the sales of passenger cars in the developing countries generating significant demand of automotive biometrics installed in the vehicles. As cars have become an indispensable part of society, there has been a greater need to enhance the safety and security of cars. Automotive Biometrics are being used in various purpose notably the driver identification systems.This growth is primarily driven by The Growing Focus on the Development of Autonomous Vehicles
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Sensor Systems sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Hitachi (Japan), Fujitsu (Japan), Nuance Communications (United States), Voxx International (United States), Safran (France), Synaptics Incorporated (United States), ASSA ABLOY AB (Sweden), BioEnable Technologies (India), Fingerprint Cards (Sweden) and Methode Electronics (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2021, a major new technology company with ambitious growth and environmental goals entered the automotive market. It is due to the merger of Hitachi Automotive Systems with former Honda affiliates Nissin Kogyo, Keihin, and Showa. Hitachi Ltd. owns 66.6% of the new car supplier, with Honda holding 33.4%.
In January 2021, Fujitsu Laboratories, Ltd. develops a new multi-factor biometric authentication technology that combines palm-based identification with non-contact biometrics filtering authentication targets through facial data to provide an innovative shopping experience in the “new normal” era. The technology, which can identify users with over 99% accuracy even when wearing a mask, was showcased at the cashless concept Lawson convenience store at the Fujitsu Technology Square office in Shinkawasaki, Japan.
Regulatory Insights:
In most of the states in United States, laws specific to biometric data are yet to be implemented and biometric data is regulated by existing privacy laws, which are highly inadequate to protect it. In those states, government, private and commercial outfits can collect biometric information and can use it as per their privacy policy unless it is not directly regulated with specific federal or state laws like Privacy Act of 1974, HIPPA, FCRA, GLBA, FERPA, etc.
Influencing Trend:
Advancements in Future Mobility Solutions Including Integrated Mobility Solutions
Market Growth Drivers:
The Growing Focus on the Development of Autonomous Vehicles and Increasing Demand for Aesthetics and Comfort Features in Vehicles
Challenges:
Technological Advances that Maximize Automotive Biometric
Restraints:
High Installation Cost of the Biometric Systems
Opportunities:
Increase in Need for Safety and Developments of Automotive Across the Globe
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Automotive Biometric Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Automotive Biometric Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Automotive Biometric players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Automotive Biometric Study Sheds Light on
The Automotive Biometric Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Biometric industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Biometric industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.