Vehicle Access Control Market worth $22.6 billion by 2027 - PowerPoint PPT Presentation

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Vehicle Access Control Market worth $22.6 billion by 2027

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Vehicle Access Control Market by Biometric (Fingerprint, Face, Iris, Voice), Non-biometric (Stolen Vehicle Assist, Keyless, Immobilizer, Alarm, Steering Lock), Technology (Bluetooth, NFC, RFID, Wi-Fi), Vehicle Type, EV & Region - Global Forecast to 2027 – PowerPoint PPT presentation

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Title: Vehicle Access Control Market worth $22.6 billion by 2027


1
MarketsandMarkets Presents

Vehicle Access Control Market worth 22.6 billion
by 2027
https//www.marketsandmarkets.com/Market-Reports/v
ehicle-access-control-market-266613080.html
2
The report "Vehicle Access Control Market by
Biometric (Fingerprint, Face, Iris, Voice),
Non-biometric (Stolen Vehicle Assist, Keyless,
Immobilizer, Alarm, Steering Lock), Technology
(Bluetooth, NFC, RFID, Wi-Fi), Vehicle Type, EV
Region - Global Forecast to 2027" The global
vehicle access control market is projected to
grow from USD 10.8 billion in 2020 to reach USD
22.6 billion by 2027, at a CAGR of 11.2. The
growth of the vehicle access control market is
influenced by the rising demand for security
safety features, increase in vehicle theft,
advanced technological investments in automotive,
the growing concern of insurance companies over
vehicle theft, and increasing sales of the
electric vehicles. Browse 58 market data Tables
and 67 Figures spread through 161 Pages and
in-depth TOC on "Vehicle Access Control
Market Get The PDF Brochure For This Report
https//www.marketsandmarkets.com/pdfdownloadNew.
asp?id266613080
3
Passenger car is expected to be the largest
market The passenger car segment is expected to
be the largest market during the forcasted year
due to the adoption of advanced features in
passenger cars such as keyless entry,
immobilizer, stolen vehicle assist, and alarm.
Increasing vehicle theft is one of the primary
reasons for OEMs to pre-install vehicle access
control systems. According to the Insurance
Information Institute (III), there were 773,139
vehicles stolen in 2017, up by 0.8 from 767,290
vehicles in 2016. One motor vehicle theft was
reported every 40.9 seconds in the United States
in 2017. The contribution of non-biometric
systems has increased significantly in automotive
as all basic models are offering non-biometric
systems in passenger cars in the developed
countries such as US, Germany, UK, France,
Canada, Spain, and Japan. Biometric system is
expected to lead the vehicle access control
market   Although, PCs and LCVs are equipped with
basic security features like anti-theft alarms
and immobilizers, the upcoming advanced features,
especially in premium cars, are demanding
biometric systems to make access more convenient
for the driver and provide multiple
authentications. The personalization offered by
biometric systems in cars favors the demand for
safety and security in the future. Fingerprint
recognition is the most researched and ready to
launch feature today in PCs. The first car to get
the fingerprint access will be Hyundai Santa Fe
(for China market first), and this feature will
most likely come down the stream and find itself
on a range of vehicles in the coming few years.
4
Asia Pacific is expected to be the fastest
growing market during the forecast period The
Asia Pacific market is the largest because of the
growth in China, Japan, and South Korea. Rising
vehicle production, increasing demand for luxury
vehicles, growing sales of electric cars, and
high technological development in the region are
driving the vehicle access control market in Asia
Pacific. Companies such as KIA, Aptiv, Nissan,
and Hyundai are the major players present in the
region. The digitalization in the region also
drives growth. For instance, China will be the
first country to test fingerprint and face
recognition in the upcoming years. OEMs are
collaborating with biometric manufacturers to
implement these systems for car authentication.
For example, in March 2019 Hyundai invested USD 5
million in Chinas Deep Glint, a Chinese startup
specializing in computer vision technology
utilizing artificial intelligence. The global
vehicle access control market is dominated by
major players such as Denso Corporation (Japan),
Valeo (France), Continental AG (Germany), Robert
Bosch (Germany), and Nuance Communication
(US). Dont miss out on business opportunities
in Vehicle Access Control Market. Speak to our
analyst and gain crucial industry insights that
will help your business grow.
5
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https//www.marketsandmarkets.com/Market-Reports/v
ehicle-access-control-market-266613080.html
6
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