Scope in Biometric Driver Identification System Market: Size, Trends, Share and Growth Forecast till 2022

The global market for biometric driver identification system is projected to bring in US$ 25,559.5 million revenue by the end of 2022.

Fact.MR
Fact.MR

Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting the market growth of organic bakery market. The study is titled as Biometric Driver Identification System Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2022. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global biometric driver identification market.

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According to the report by Fact.MR, the global biometric driver identification system market is expected to see healthy growth throughout the forecast period. The global market for biometric driver identification system is projected to bring in US$ 25,559.5 million revenue by the end of 2022. Increasing awareness about vehicle safety among individuals is one of the factors boosting the demand for biometric driver safety system. Along with security, the biometric systems in vehicles are also equipped with advanced features, enhancing the driving experience.

3 Key Insights on Global Biometric Driver Identification System Market

  1. North America is expected to emerge as the biggest market in the global biometric driver identification system market. North America is estimated to surpass US$ 9,000 million revenues by the end of 2022. North America biometric driver identification system market will witness an impressive growth. Increasing adoption of advanced technologies, growing awareness towards vehicle safety and presence of individuals with high disposable income are some of the factors driving growth in the region.
  2. Europe is expected to be the second most lucrative market for biometric driver identification system. Due to the government initiatives towards vehicle safety and road safety is one of the reasons for increasing adoption of advanced vehicle safety technology, thereby boosting the demand for biometric driver identification system in Europe.
  3. Compact passenger cars are likely to be the largest deployer of biometric driver identification system. Experiencing healthy growth, compact passenger cars are estimated to bring in nearly US$ 7,700 million revenue towards 2022 end.

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Engine Start-Stop System to Gain Maximum Revenue Share

Engine start-stop system is expected to experience impressive growth during 2017-2022. By the end of 2022, engine start-stop system is estimated to create an incremental opportunity exceeding US$ 4,500 million between 2017 and 2022.

Iris Scan to Emerge as Leading Biometrics Technology in Vehicles

Among various biometrics technologies for vehicle authentication, Iris scan will gain maximum traction in a biometric driver identification system. Iris scan is expected to register healthy growth rate during the forecast period. Meanwhile, face recognition technology is also likely to witness robust growth through 2022.

Compact Passenger Cars to Emerge as Largest User of Biometric Driver Identification System

Towards the end of 2017, compact passenger cars are expected to account for nearly one-third of the revenue share. Compact passenger cars are projected to surpass US$ 7,600 million value by the end of 2022. Meanwhile, mid-sized passenger cars will also experience impressive growth throughout the forecast period.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global biometric driver identification system market through 2022, which include Bioenable Technologies Pvt. Ltd, Bayometric LLC, Continental AG, Fujitsu Ltd, Denso Corporation, HID Global Corporation, Gentex Corporation, Mitsubishi Heavy Industries Ltd, Robert Bosch GmbH, and Hitachi Ltd.

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