Press Release / Automotive / Revenues Biometric Vehicle Access System Market to top USD 0.85 billion by 2021

Revenues Biometric Vehicle Access System Market to top USD 0.85 billion by 2021

Biometric vehicle access system market is expected to grow from USD 0.44 billion in 2016 to USD 0.85 billion by 2021, at a CAGR of 14.06% from 2016 to 2021. he market for fingerprint recognition system is at the growth stage, whereas the voice recognition system market is recently introduced and a slowly growing market. A fingerprint recognition system is a device that thwarts any unauthorized entry into the vehicle unless the correct fingerprint of the driver is provided. This advanced technology is expected to propel the growth of the biometric vehicle access system market

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Market Dynamics

Opportunities
• Rising demand for safety features and convenience.
• Advent of concept cars and electric vehicles in the automotive industry.

Challenges
• Increased connectivity would increase risk of cyber attacks.
• Weather conditions might hamper the functionality of biometric systems.

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Biometric vehicle access systems comprise of different mechanisms that use biometric identification factors such as voice, iris, and fingerprint to unlock the vehicle. Biometric technology is an automated access monitoring system, based on behavioral or physiological characteristics, used for verification and recognition of a manual access. Some of the versions of this technology available for vehicle access are fingerprint recognition systems, iris recognition systems, and voice recognition systems.


Major Market Developments

• In October 2016, Fujitsu announced development of a new technology that would utilise machine learning and image processing to analyze surveillance camera images of traffic. The company is planning to increase the accuracy and incidents recognizable with this technology.

• In February 2016, EyeLock(subsidiary) has announced on a new iris identification technology to start the ignition of cars. EyeLock’s technology looks at over 240 points in each eye, and the vehicle starts only after the scan is matched to the driver’s iris template.

• In March 2016, Nuance Communications ntroduced a Dragon Drive connected car platform and Nuance Mix voice platform. This technology would provide automakers with a set of capabilities to create intelligent and conversational voice experiences for cars.

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Biometric Vehicle Access System Market Key Players

• Safran S.A (France),
• Hitachi Ltd. (Japan),
• Fujitsu Ltd. (Japan)
• Nuance Communications (U.S).

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