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Vehicle Access Control Market: Possibilities, Growth, Analysis and Forecast by 2027

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Vehicle Access Control Market: Possibilities, Growth, Analysis and Forecast by 2027

January 28
21:17 2020
Vehicle Access Control Market: Possibilities, Growth, Analysis and Forecast by 2027

Vehicle Access Control Market
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.

The Global Vehicle Access Control Market is projected to grow from USD 10.8 billion in 2020 to 22.6 billion by 2027, at a CAGR of 11.2%. The rising concern towards vehicle security, the growing production of PCs and LCVs, and the increasing demand for electric vehicles have led to the growth of the market. Premium car models would provide another sustainable and profitable revenue stream in the future for vehicle access based biometric systems in the automotive industry.

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).

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.

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The non-biometric system is expected to lead the vehicle access control system during the forecast period

The non-biometric system is expected to be the largest and fastest-growing market. The system uses automotive sensors, which are a reliable and less costly technology. These sensors are relatively simple and used in applications like keyless entry, allowing OEMs to adopt such features in almost all premium models, easily. This trend for safety features with reliability is expected to boost the market.

The 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 the 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 China’s Deep Glint, a Chinese startup specializing in computer vision technology utilizing artificial intelligence.

North America is expected to witness significant growth during the forecast period.

An increasing number of vehicle theft incidents will drive the demand for advanced security features like keyless entry and electronic immobilizers. Vehicle theft instances have grown significantly in the US. According to the National Insurance Crime Bureau, USD 6 billion was lost due to vehicle thefts in the US. Therefore, OEMs are adding new features like stolen vehicle assist and electronic immobilizers for better vehicle safety and security.

Moreover, vehicles in the US are occupied mostly with advanced systems such as vehicle stolen assist, keyless entry, electronic immobilizers, and others, which will fuel the overall growth of the vehicle access control market. Rising EV sales and demand for LCVs in Canada and the US will boost the market. Large scale autonomous vehicle testing and deployment will require vehicle safety features like face and fingerprint recognition.

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Recent Developments:

• Continental, in February 2019, announced its successful acquisition of Kathrein Automotive GmbH. Incorporating the automotive division of Kathrein, a Rosenheim-based antenna, and satellite technology manufacturer is a move that will give Continental an important key segment to add to its wealth of expertise. Potential applications range from remote access keys and navigation applications to telematics solutions.

• Bosch has announced its keyless digital access service, in January 2019. It recognizes the owner’s smartphone digital fingerprint and opens the vehicle only for them. The keyless service offers the driver greater convenience and flexibility. The app allows the vehicle owner to grant other users access to their vehicles. For this, an additional key is sent by the cloud.

 

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