The research report studies the Biometric in the Automotive market using different methodologies and analyzers to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market. Each place is then elaborated to help the reader comprehend the growth potential of each region and its contribution to the global market. The data analysts have used primary and secondary methodologies to consolidate the information in the report.. They have also used the same data to generate the current business scenario.
The global biometric in the automotive market was valued at USD 210.31 million in 2020, and it is expected to reach USD 593.14 million by 2026, registering a CAGR of 19.06% during the period of 2021-2026.
Top Leading Companies of Biometric in the Automotive Market are Synaptics Incorporated, Fingerprint Cards AB, Aware Inc., Cerence Inc. (Nuance Communications Inc.), Continental AG, Sensory Inc., Shenzhen Goodix Technology Co. Ltd, B-Secur Ltd, EyeLock Inc., Precise Biometrics AB and others.
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Industry News and Updates:
– September 2020 – Cerence partnered with BJEV to create an intelligent, personalized voice assistant experience with speech-enabled applications for BJEV ARCFOX line’s first electric SUV: T. The vehicle’s infotainment experience is powered by the Cerence Drive portfolio. Through Cerence Drive’s hybrid architecture, ARCFOX’s T’s voice assistant integrates embedded and cloud-based technologies, including speech recognition, natural language understanding (NLU), text to speech (TTS), and speech signal enhancement (SSE).
– March 2020 – Shenzhen Goodix’s fingerprint authentication solution for automobile made its first public appearance with the commercialization on Lynk & Co. 05. Based on the forward-looking trends in automotive applications, Lynk & Co. demonstrates various premium high-tech designs on its all-new coupe SUV.
Key Market Trends:
Fingerprint Recognition is Expected to Grow at a Significant Rate
– Fingerprint recognition technology evolved rapidly in the past few years, owing to the increased adoption of mobile devices and its increased adoption of biometric systems. Its application is majorly dominated by security and access control functions. This resulted in the advancements of fast-track technology in this segment, such as in display solutions.
– The increasing rate of adoption of fingerprint sensors across the consumer industries is expected to create significant opportunities for its adoption in the automotive sector. According to Credit Suisse, the global fingerprint sensing shipments are expected to reach about 1.1 billion units in 2020, which represents a projected increase of more than 200 million units in three years.
– The decreasing price of fingerprint sensors is making it affordable for various automakers to deploy them in their future cars without significantly impacting the price of the automobile, early adoption has prompted competitors as well to offer similar solutions. The average selling price of fingerprint sensors decreased from USD 5.5 in 2014 to USD 2.1 in 2019 and is expected to reach USD 2 in 2020.
– Also, the increasing trend of keyless entry in cars and push-button ignition systems has further triggered the development of fingerprint sensors in automobiles. The driver needs to place their finger on the capacitive sensor on the door handle to open the car door.
Scope of the Report:
This Biometric in the Automotive market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading key players encompassing their successful marketing strategies, market contribution, recently developments in both historic and present contexts.
The regions are further sub-divided into:
–North America – US, Canada, and Mexico
–Europe – UK, Germany, France, Italy, Russia, Spain & Rest of Europe
–Asia-Pacific – China, India, Japan, South Korea, Australia & Rest of APAC
–Latin America – Brazil, Argentina, Peru, Chile & Rest of Latin America
–Middle East and Africa – Saudi Arabia, UAE, Israel, South Africa
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Key Questions Answered in the Biometric in the Automotive Industry Report
- What will be the Biometric in the Automotive market size?
- What are the new opportunities?
- What is the market share?
- What are targeted audiences?
- Which are the top players in Biometric in the Automotive market?
- How the competition goes in the future?
- Which are the leading countries?
- What are the challenges in future?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. Further, it also allows you to do valuable competitor research to get inspiration for marketing the products. When it comes to satisfaction, it is necessary to get definitive idea about what is exactly going in the market. This report exactly provides overall market scenario.
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