Biometric technology refers to an automated access monitoring system that is based on behavioral or physiological characteristics to verify and recognize before provision of access. There are numerous types of biometric security systems that use different biometric authentication methods such as voice recognition, fingerprints, hand geometry, and iris/ face recognition. With a surge in demand for automated security systems in automobiles, the biometric vehicle access market is anticipated to register a lucrative CAGR during the forecast period of 2016-2022.
Factors leading to prominent market growth include a rise in the need for efficiency and higher demand for accurate security systems for automobiles. Increase in the number of automobile thefts has led to high awareness towards automotive safety, causing propulsion in demand for biometric vehicle access systems. Advancements in biometric technologies have also pushed the automotive industry to adopt biometric security solutions to reduce/ eliminate most automotive theft risks. Further, due to the growing population, the need for biometric security systems for vehicles is observed due to higher reliability, accuracy and lower breaches, driving substantial market growth.
Design standards specified by the International Organization for Standardization (ISO) as well as the International Electrotechnical Commission (IEC) are set to ensure optimal system operationality which, in turn, results in improved performance, further pushing the market. In contrast, various concerns relating to the owners’ data security and a rise in the number of cyber threats witnessed due to increased use of electronic components in the automobiles is anticipated to hinder the market growth for biometric vehicle access market. Further, system dysfunctionality leading to system failure and false authentication are projected to slow down the adoption of biometric vehicle access technology during the review period.
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TABLE OF CONTENTS:
1 Introduction
1.1 Definition
1.2 Scope Of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Propulsionology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
3.5 Macroeconomic Indicators
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Biometric technology is a system, which measures the statistical analytics of any individual, based on the physiological and behavioural characteristics.
Increasing demand for authentication and high security are the major factors driving growth of the global biometric vehicle access market
Privacy is the major concern regarding biometric solution resulting in the increasing demand for authentication.
Vehicle theft is one of the major problems faced by the consumers due to lack of security systems in the vehicles.
Therefore, increasing threat of vehicle stealing is resulting in increasing demand for biometric authentication solutions in vehicles, which is a safer security solution.
Therefore, the probabilities of fraudulence in the fingerprint recognition system is less than that in the conventional recognition, which is expected to significantly increase the use of finger print recognition systems in the biometric vehicles.
