The market for biometric driver identification systems is expected to reach US$ 116.72 Billion by 2032, growing at a 23.8% CAGR. Increasing the introduction of comfort and safety features in compact, mid-size, and luxury car models and increasing awareness about vehicle safety are creating a substantial boom for biometric driver identification system technology in the global market.
The developing lifestyle and consumer preferences over comfort and safety were changed due to the rise in per capita income in both developed and developing countries. In premium and luxury model vehicles, the biometric driver identification system provides comfort and safety features. Manufacturers are more likely to introduce biometric driver identification as a technology advancement to improve the driving experience and support vehicle safety than as a safety component. These extra benefits are predicted to promote market growth over the anticipated time period.
| Attributes | Details |
|---|---|
| Market Size (2021) | US$ 11.29 Billion |
| Market Size 2022 | US$ 13.80 Billion |
| Market Size 2032 | US$ 116.72 Billion |
| Value CAGR (2022 to 2032) | 23.8% |
The biometric driver identification system is equipped with high-tech security elements to prevent unauthorized access to driver profiles, which contain details about vehicles, custom settings, and other behavioral information. In the upcoming years, biometric driver identification technology is most likely to hit the mid-size car market. The various vehicle categories that comprise the various end-user verticals for the market demand include compact and mid-size cars, commercial vehicles, executive luxury vehicles, premium service vehicles, and executive trucks and buses.
Automotive manufacturing firms are gradually integrating biometric identification systems into their models to ensure security. The promotion of biometric driver identification systems is expected to be greatly aided by the technologically advanced and premium features related to the safety of the customer and the vehicle.
Nowadays, market participants are offering a variety of biometric identification technologies, such as iris-based in-car biometric cameras, hand gestures, face and fingerprint recognition scanners, voice identification solutions, etc., to increase their accuracy and reliability. In order to assure reliability and quality, biometric identification systems are now being developed with certain cutting-edge characteristics, such as behavior-based software and algorithms that could increase their market worth. All these factors are key supporting factors propelling the market growth.
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The market for biometric driver identification systems, which has historically evolved at a CAGR of about 15.6% from 2017 to 2021, is predicted to be worth US$ 13.8 Billion by 2022, according to the report. The COVID-19 pandemic crisis has hampered the global expansion of the automotive market industry as well as numerous other associated industries. The enforced lockdown dragged down the development of biometric driver identification systems and interrupted the current supply chain, causing deliveries to be delayed or unable to reach specific locations, which affected the market for these systems.
The automotive industry market experienced a drastic boom after the percentage of infection was reduced. The biometric driver identification system uses physiological characteristics to identify the driver and aids in gauging their level of concentration by keeping an eye on their face or iris. The biometric driver identification system guards against unauthorized access to vehicles, and monitoring aids in gauging the driver's level of attention.
The vehicle's interior can be customized to the driver's preferences using a biometric driver identification system in the forecast period. These features include things like seat alignment, steering wheel adjustment, temperature control in the car, rearview mirror adjustment, etc. FMI's estimation of the global demand for biometric driver identification systems forecasts a CAGR of 23.8% by 2032.
The biometric driver identification system is one of the latest innovations and development in active vehicle safety. Individuals spending has improved, and as a result, customers are investing more and more in advanced and improved technologies related to safety. These systems are adopted more easily by the customers as a result of awareness of the safety and security of their vehicles which fuels up the market.
The route recognition and distraction detection systems, which recognize driving attention deficits and alert drivers in real-time, operate simultaneously with the biometric driver identity system, ensuring the security of both pedestrians and drivers. This feature is more demanding and provides an opportunity for biometric driver identification systems in different vehicle types.
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The market for biometric identification systems is expanding, and a few innovative developments are prepared to meet the market in the near future. However, these biometric driver identification systems may have some technical challenges if handled by an untrained or less knowledgeable person. Such issues may only be handled and solved by a qualified individual with relevant knowledge and expertise.
Currently, the biometric driver identification system is only offered in high-end and luxury vehicles, and there aren't many places where you can find the corresponding service centers. This could present a problem for consumers in an emergency. The market will face challenges during the projected period due to the possibility of technical faults and the shortage of skilled workers in the field.
The US is the leading market in terms of acceptance and advancement of this technology, according to the analysis of biometric driver identification systems. This country is anticipated to maintain its dominant position throughout the forecast years attributed to a sizable consumer base that holds multiple vehicles and the presence of well-known biometric driver identification system market players.
Germany is also the top market in the European region due to the presence of several of the industry's major players in biometric driver identification systems. Contrarily, East Asian nations like China, Japan, and South Korea have a very strong foundation for the manufacturing of automobiles, and export companies are expanding quickly in this sector at the moment.
Moreover, it is anticipated that the innovation and requirement for biometric driver identification systems within these countries will be indirectly boosted by the countries' better economic situation and a rising fleet of passenger vehicles post the pandemic outbreak. However, a significant obstacle to the expansion of the biometric driver identification systems market in this region will likely continue to be the system's higher cost and the lack of suitable service centers dealing with this technology.
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The global market is relatively consolidated because the system is new and only offered in higher models. Players on the market will have additional opportunities as a result of the growing vehicle industry, as well as its internal advancements and demand. The market players for biometric driver identification systems are in competition with one another when it comes to product development, and they are also attempting to acquire & merge with top players to improve their market position.
The key players operating in the Biometric Driver Identification System market include Bayometric, Iritech Inc., Marquis ID Systems, Techshino, 3M Cogent Inc., Fulcrum biometrics, Griaule Biometrics, SRI International, NEC Corporation, Iritech Inc., Griaule Biometrics, Thales Group, Continental AG, Fujitsu Ltd, Fingerprint Cards, Gentex Corporation and Others.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 23.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Vehicle Type, Identification Techniques, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa (MEA) |
| Key Countries Covered | The US, Canada, Mexico, Brazil, Germany, Italy, France, The UK, Spain, Benelux, Russia, China, Japan, South Korea, India, Association of Southeast Asian Nations, Australia and New Zealand, GCC Countries, Turkey, South Africa, North Africa |
| Key Companies Profiled | Bayometric, Iritech Inc.; Marquis ID Systems; Techshino; 3M Cogent Inc.; Fulcrum biometrics; Griaule Biometrics; SRI International; NEC Corporation; Iritech Inc.; Griaule Biometrics; Thales Group; Continental AG; Fujitsu Ltd; Fingerprint Cards; Gentex Corporation; Others |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Biometric Driver Identification System Market reached over US$ 11.29 Billion.
During the forecast period, the Biometric Driver Identification System Market is estimated to expand at a CAGR of 23.8% from 2022 to 2032.
The Biometric Driver Identification System Market is projected to reach US$ 116.72 Billion by the end of 2032.
The North American region is projected to lead the Biometric Driver Identification System market in the forecast period.
The key players operating in the Biometric Driver Identification System market are Bayometric, Iritech Inc., Marquis ID Systems, Techshino, 3M Cogent Inc., Fulcrum biometrics, Griaule Biometrics, etc.
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Biometric Driver Identification System Market
