Stratview Research has published a new report titled “Automotive Biometric Market” which is segmented by Type (Fingerprint Scan, Voice Recognition, Face Recognition, and Others), by Vehicle Type (Passenger Cars and Commercial Vehicles), by Application Type (Vehicle Security System, Driver Safety System, Advanced Steering and Infotainment, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
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The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Type - Based on the type, the market is segmented as fingerprint scan, voice recognition, face recognition, and others. Among these, the fingerprint scan segment held the largest market share in 2021 and is expected to maintain its dominance during the forecast period. The automotive industry is pioneering the use of fingerprint recognition technology to improve vehicle safety, which has fueled the growth of this segment.
By Vehicle Type - Based on the vehicle type, the market is segmented as passenger cars and commercial vehicles. Commercial vehicles are expected to grow rapidly in the market due to factors such as increasing demand for comfort, safety, and automatic features.
By Application Type - Based on the application type, the market is segmented as vehicle security system, driver safety system, advanced steering and infotainment, and others. The growing number of vehicle and fuel theft cases necessitates the installation of vehicle security systems.
Which Region is expected to remain the largest market?
In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period. The region offers significant growth potential for the automotive biometric market due to the high demand for vehicles in countries such as China, Japan, India, and South Korea. As automotive biometric systems are used to identify and authenticate vehicles in order to improve vehicle safety and comfort, the automotive biometric market is expanding in tandem with the region's increasing vehicle sales.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Automotive Biometric Market:
Fingerprint Cards AB
Key questions answered by the report
- What is the projected CAGR for revenue from the Automotive Biometric Market during the forecast period?
- What would be the market be valued at by 2027?
- What is a major driving factor for growth of the market?
- Which region accounted for largest revenue share in the Automotive Biometric Market?
- Which are the major market players?
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