What Is The Current and Historic Market Size Analysis Of The Finger Print Vehicle Access Market?
The finger print vehicle access market has seen considerable growth due to a variety of factors.
• The fingerprint vehicle access market has seen strong growth in recent years. It is projected to grow from $1.59 billion in 2024 to $1.72 billion in 2025, at a compound annual growth rate (CAGR) of 8.4%.
Factors driving this growth include rising concerns over vehicle theft, integration with connected car technologies, increasing personalization in vehicles, urbanization, and greater adoption of electric vehicles.
What are the Market Size and Expected Growth Rates for the Finger Print Vehicle Access Market?
The finger print vehicle access market is expected to maintain its strong growth trajectory in upcoming years.
• The fingerprint vehicle access market is forecasted to grow strongly, reaching $2.36 billion by 2029 at a CAGR of 8.2%.
The growth is driven by investments in vehicle security, rising cybersecurity awareness, increasing vehicle production, demand for safety, and consumer preference for convenience. Trends include technological innovations, improved biometric accuracy, integration with mobile apps, focus on data privacy, and autonomous vehicles.
Which Key Drivers Are Propelling The Finger Print Vehicle Access Market's Growth?
The growing vehicle production is expected to drive the fingerprint vehicle access market. Vehicle production is increasing due to higher demand, fueled by economic development, urbanization, and changing consumer preferences. Fingerprint vehicle access systems enhance security by replacing traditional keys, offering a safer and more convenient entry method. In May 2023, the International Organization of Automobile Manufacturers reported that global motor vehicle production rose from 84.83 million in 2022 to 93.55 million in 2023, supporting the growth of the fingerprint vehicle access market.
What Are The Key Segments Within The Global Finger Print Vehicle Access Market?
The finger print vehicle access market covered in this report is segmented –
1) By Type: Fingerprint Opens The Door, Fingerprint Ignition
2) By Vehicle: Passenger Car, Battery Electric Vehicle
3) By Application: Door, Steering Wheel, Car Mirror, On Board
Subsegments:
1) By Fingerprint Opens The Door: Biometric Door Lock System, Keyless Entry via Fingerprint, Passive Fingerprint Recognition for Door Unlocking
2) By Fingerprint Ignition: Fingerprint-Based Engine Start Systems, Biometric Start Or Stop Button, Secure Ignition Control Via Fingerprint Authentication
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What Emerging Trends Are Influencing The Growth Of The Finger Print Vehicle Access Market?
Companies in the fingerprint vehicle access market are enhancing vehicle security and user convenience by developing biometric authentication systems. Biometric authentication uses unique biological characteristics to verify identity. For example, in November 2023, South Africa-based Eagle Eye Defence developed a fingerprint authentication system for vehicles. This system ensures that only authorized users can start the vehicle, improving security compared to traditional keys. It connects to the vehicle's ignition system, scanning the user's fingerprint to determine authorization before allowing the engine to start.
Who Are the Key Players In The Finger Print Vehicle Access Market?
Major companies operating in the finger print vehicle access market are:
• Qualcomm Technologies Inc.
• NEC Corporation
• Thales Group
• IDEX Biometrics ASA
• Synaptics Incorporated
• Japan Display Inc.
• Suprema Inc.
• Goodix Technology Inc.
• ELAN Microelectronics Corporation
• CrucialTec Co. Ltd.
• M2SYS Technology
• Anviz Global Inc.
• Fingerprint Cards AB
• Mantra Softech India Pvt. Ltd.
• CMOS Sensor Inc.
• ID3 Technologies
• Touch Biometrix Ltd.
• Egis Technology Inc.
• Next Biometrics Group ASA
• Focaltech Systems Ltd.
• Sonavation Inc.
• Vkansee Technology Inc.
What Are The Regional Insights Into The Finger Print Vehicle Access Market?
Europe was the largest region in the finger print vehicle access market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the finger print vehicle access market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
