The finger print vehicle access global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Finger Print Vehicle Access Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The fingerprint vehicle access market size has grown strongly in recent years. It will grow from $1.47 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to a rise in concerns over vehicle theft, a rise in integration with connected car technologies, an increasing focus on personalization in vehicles, increasing urbanization, and a rise in the adoption of electric vehicles.
The fingerprint vehicle access market size is expected to see strong growth in the next few years. It will grow to $2.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to rising investments in vehicle security, increasing awareness of cybersecurity threats, growing vehicle production, growing demand for vehicle safety, and increasing consumer preference for convenience. Major trends in the forecast period include technological innovations, enhanced biometric accuracy, integration with mobile apps, focus on data privacy, and autonomous vehicles.
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Scope Of Finger Print Vehicle Access Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Finger Print Vehicle Access Market Overview
Market Drivers -
Growing vehicle production is expected to propel the growth of the fingerprint vehicle access market going forward. Vehicle production is rising due to a surge in demand fueled by rapid economic development, ongoing urbanization, a growing consumer class, and supportive industry regulations and policies. Fingerprint vehicle access systems enhance vehicle production by providing a more secure access method, reducing theft risk compared to traditional keys or key fobs, and significantly improving both security and user experience. For instance, in May 2023, according to the International Organization of Automobile Manufacturers, a France-based trade association, global motor vehicle production increased from 84.83 million in 2022 to 93.55 million in 2023. Therefore, growing vehicle production is driving the growth of the fingerprint vehicle access market.
Market Trends -
Major companies operating in the fingerprint vehicle access market are developing innovative technologies, such as biometric authentication, to enhance vehicle security and user convenience. Biometric authentication is a security process that uses unique biological characteristics to verify an individual's identity. For instance, in November 2023, Eagle Eye Defence, a South Africa-based security company, developed an affordable biometric security system for vehicles that uses fingerprint authentication to start the car engine. The system scans the user's fingerprint and only allows authorized users to start the vehicle, providing increased security over traditional keys and preventing unauthorized access and theft. The fingerprint security system is connected to the vehicle's ignition system via a microcontroller. When a fingerprint is scanned, the system checks if the user is authorized and starts the engine only for approved users. Multiple users can be registered as authorized users in the system.
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
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Hemasri Paruchuri 
