The biometric identification market for automotive is projected to grow at a CAGR of 25.61% from 2017 to 2022 and is estimated to reach USD 21.72 Billion by 2022. The growth of the biometric identification market can be observed with the increase in demand for premium vehicles. These vehicles are equipped with comfort applications and safety features, resulting in increased demand for biometric system/components. The biometric identification market is projected to have significant growth in the North American region, which can be attributed to the presence of a large number of players with their manufacturing base in the U.S. and increasing demand for luxury vehicles equipped with the biometric features.
The biometric identification system manufacturers have adopted the strategies of new product development and geographical expansion to gain traction in the automotive biometric identification market. While new product development helps a company to have a competitive advantage in terms of technology, expansion helps to formulate a better business strategy as it enables a strong global footprint. For example, EyeLock LLC (U.S.), a subsidiary of VOXX International Corp. (U.S.), developed a new iris identification technology to start the ignition of cars. Safran (France), one of the emerging players in the automotive biometric market, expanded its presence in Malaysia with a newly opened facility that will deliver biometric products to its clients.
The key market players in the automotive biometric identification market are Hitachi, Ltd. (Japan), FUJITSU (Japan), Synaptics Incorporated (U.S.), Robert Bosch GmbH (Germany), Continental AG (Germany), and Valeo (France).
FUJITSU has a strong presence in the Asia-Oceania market. It has been adopting multiple strategies such as new product development, expansion, and networking to strengthen its position in the automotive biometric identification market. Of these, new product development is the key strategy adopted by the company owing to its strong R&D capabilities. The company developed the latest generation of authentication system, which is palm vein authentication system, and named the product as PalmSecure F-Pro. It has also developed a wide range of biometric-based products for passenger cars to widen its product line and cater to the requirements of clients more efficiently. Also, in April 2016, the company opened a new facility at its Tatebayashi Data Center (Japan), which will act as support for the digital business of the company.
Hitachi, Ltd. has strong R&D and production capacities. Strong presence in the emerging Asian markets has made the company a formidable competitor in the global biometric identification market. The company’s key strengths are a strong revenue base and advanced R&D capabilities, which have helped to adopt the strategy of new product development. The company upgraded its product line by introducing innovative technologies and launched an automated safety requirement verification technique for automotive control systems. In June 2015, the company opened a new manufacturing plant at Chongqing City (China). This facility would help to expand the automotive systems business in China. These strategies have helped the company to increase its presence in the automotive biometric identification market.
Biometric Identification Market for ICE, EV, & Autonomous Vehicles, by Authentication Process (Fingerprint, Voice, Iris, Facial, Gesture, Multimodal), Sensor (CMOS, Optical, Retinal), Processing Component, Application, Wearable, and Region - Forecast to 2022
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