The Finger Print Vehicle Access Market witnessed largest market share and is projected to retain its dominance during the forecast period. The finger print vehicle access technology is anticipated to hold the largest market share for biometric vehicle access systems due to its high dependability and individuality. Fingerprints may be differentiated and are particular to each individual person. As a result, finger print vehicle access systems are less likely to be fraudulent than traditional recognition systems, which is projected to result in a major increase in the use of these systems in biometric vehicles.
According to Data Bridge Market Research the Finger Print Vehicle Access accounted for USD 1,439.40 million in 2021, and expected to reach USD 2,684.03 million by 2029. The market is expected to grow with a CAGR of 6.80% in the forecast period of 2022 to 2029.
“Rising demand of finger print vehicle access for the safety and privacy purpose”
Privacy is the major concern regarding biometric solution resulting in the growing demand for the finger print vehicle access system. As a result of the lack of security measures in vehicles, one of the biggest issues consumers confront is vehicle theft. For instance, the Federal Bureau of Investigation (FBI) reports that worldwide auto theft increased from 3.8% in 2015 to 7.4% in 2020. Therefore, there is a growing need for biometric authentication solutions such as finger print vehicle access in automobiles, a safer security solution, as the possibility of vehicle theft grows. Therefore, the need for finger print vehicle access systems in vehicles is increasing as the risk of vehicle theft increases, this is a safer security option. These are the main factors that are anticipated to positively influence the growth of the finger print vehicle market.
What restraints the growth of Finger Print Vehicle Access Market?
“High cost and threat of hackers”
The high cost of the system and high expense for the installation of this system are some of the major factors which will obstruct the growth rate of the finger print vehicle access market during the forecast period. Moreover, high risk of cyber-attacks also hampers the consumers' perception of the dependability of this system which is expected to be the challenging factor for market growth rate.
Segmentation: Finger Print Vehicle Access Market
The finger print vehicle access market is segmented on the basis of technology, vehicle type and application.
- Based on technology, the finger print vehicle access market is segmented into iris recognition, face recognition.
- On the basis of vehicle type, the finger print vehicle access market is segmented into passenger car, battery electric vehicle.
- Based on application, the finger print vehicle access market is segmented into door, steering wheel, car mirror, on board.
Regional Insights: Europe is expected to dominate the Finger Print Vehicle Access Market
Europe is expected to dominate the market and is expected to grow significantly owing to the increasing adoption of advanced technologies coupled with growth and expansion of automotive industry in this region. Furthermore, the presence of many manufacturers headquartered coupled with technological developments and product modifications are some of the other major factors expected to drive the market growth in this region.
- In addition, the Asia-Pacific region is likely to register highest growth rate during the forecast period of 2022 to 2029 because of increasing adoption of modernized technology and rising vehicle production in this region. In this region. Moreover, growing prevalence of cost effective biometric system and rising sales of electric vehicles are some of the other major factors which are expected to drive the market growth in this region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-finger-print-vehicle-access-market
The Prominent Key Players Operating in the Finger Print Vehicle Access Market Include:
- Goodix (China)
- Fingerprint Cards AB (Sweden)
- Synaptics (U.S.)
- Apple Inc. (U.S.)
- Egis Technology (Taiwan)
- Crucialtec (South Korea)
- Next Biometrics (Norway)
- Novatek Microelectronics (Taiwan)
- Qualcomm Technologies, Inc. (U.S.)
- Q Technology (China)
- CMOS Sensor Inc. (U.S.)
- ELAN Microelectonics (Taiwan)
- Focaltech (China)
- ID3 Technologies (France)
- IDEX Biometrics (Norway)
- Japan Display Inc. (Japan)
- OXI Technology (China)
- Sonavation Inc. (U.S.)
- Touch Biometrix (U.K.)
- Vkansee (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list Finger Print Vehicle Access Market companies contact, https://www.databridgemarketresearch.com/reports/global-finger-print-vehicle-access-market
Research Methodology: Global Finger Print Vehicle Access Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
