Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Biometric In the Automotive Market 2030 by Offering, Authentication Type, Vehicle Type, Application, And Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.
The global Biometric in the Automotive Market is poised for unprecedented growth, with a forecasted increase from USD 1.78 Billion in 2022 to an impressive USD 5.43 Billion by 2030.
The comprehensive market analysis, presented in the latest industry report, offers critical insights into the dynamics shaping the Biometric in the Automotive Market. It delivers a detailed view of the market's competitive landscape, highlighting key players and their strategies, market shares, and potential areas for investment.
This market is witnessing a significant compound annual growth rate (CAGR) of 14.97% during the period of 2023 to 2030. Such growth is attributed to technological innovations in multi-factor authentication and the burgeoning demand for autonomous vehicles, ensuring robust market prospects in the industry.
Key figures in the biometric technology landscape, from various regions including North America, the Asia Pacific, and Europe, have been instrumental in pushing forward the boundaries of vehicular safety and authentication. The implementation of advanced biometrics such as fingerprint and iris recognition enhances vehicle security by preventing unauthorized access and enables personalized driving experiences. These technologies play an essential role in promoting occupant safety and wellness, as well as supporting advanced driver assistance systems.
The application of multi-factor authentication (MFA) in automotive security is a trend of considerable note. MFA layers additional security by requiring multiple forms of verification, greatly increasing difficulties for potential unauthorized access. When coupled with biometric techniques, it ensures a highly secure and user-friendly environment, which is becoming increasingly imperative in today's connected and autonomous vehicles.
Moreover, the advancements in biometric sensors and technologies are envisioned to fortify the role of MFA, particularly in autonomous driving scenarios. In such applications, the technology's capacity to seamlessly transition control between the vehicle and the human driver is essential for safety and security.
North America emerges as a dominant player in the global market, driven by advancements in technology and a heightened focus on security. The integration of biometric technologies in this region is propelled by the growing prevalence of connected and autonomous vehicles, demanding enhanced security measures and personalized in-vehicle experiences.
The report also includes an impact analysis of market drivers and restraints, offering a strategic perspective on the future of the market. Detailed market forecasts and segmentation analysis provide stakeholders with valuable information to make informed decisions regarding market opportunities.
Market Segmentation Overview
- By Offerings
- Hardware
- Software
- By Authentication Type
- Fingerprint Recognition
- Iris Recognition
- Palm Recognition
- Voice Recognition
- Others
- By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- By Application
- Vehicle Security
- Health Wellness and Wellbeing
- Advanced Driver Assistance System
- Others
- By Region
- North America
- Asia Pacific
- Europe
- Rest of the World
Companies Mentioned
- Safran (France)
- NEC Technologies India Private Limited (India)
- FUJITSU (Japan)
- Aware, Inc. (U.S.)
- Gemalto Cogent, Inc. (U.S.)
- BIO-key International, Inc. (U.S.)
- Precise Biometrics AB (Sweden)
- Secunet Security Networks AG. (Germany)
- Thales Group (France)
- Cognitec Systems GmbH (Germany)
- Crossmatch. (U.S.)
- Fulcrum Biometrics, LLC. (U.S.)
- Daon (Ireland)
- Facebanx (U.S.)
- HID Global Corporation/ASSA ABLOY AB. (U.S.)
- SUPREMA. (South Korea)
- IRITECH, INC. (U.S.)
- M2SYS Technology (U.S.)
For more information about this report visit https://www.researchandmarkets.com/r/xmp3xa
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