Latest industry analysis by Fact MR, predicts sales of Biometric Driver Identification System to swell at propelled CAGR through 2031, as automotive sales gradually recover across the world. The report is intended at presenting insights into hidden growth opportunities and challenges. It also offers recommendations to help businesses to prep for unforeseen challenges.
The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.
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The report offers actionable and valuable market insights of Biometric Driver Identification System. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Biometric Driver Identification System Market across various industries and regions.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Biometric Driver Identification System market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Biometric Driver Identification System
This newly published and insightful report sheds light on Market Insights of Biometric Driver Identification System, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Biometric Driver Identification System Market.
Biometric Driver Identification System Market – A Glance at the Competition Landscape
- In 2017, Continental AG completed the acquisition of Quantum Inventions to leap into the intelligent transportation space. The combined strength of both companies will offer robust value propositions to customers.
- In 2017, Robert Bosch GmBH collaborated with IBM to provide novel technological solutions for updating millions of IoT devices, which will further open new avenues for various industrial applications.
- Synaptics launched fingerprint access for cars by integrating smart sensors into the control systems. The smart biometric systems will have the competency to identify the driver by monitoring the seat position monitored in the database.
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Significant players operating in the biometric driver identification system market comprise
- Bayometric LLC
- Bioenable Technologies Pvt. Ltd
- Continental AG
- Denso Corporation
- Fujitsu Ltd
- HID Global Corporation
- Mitsubishi Heavy Industries Ltd
- Gentex Corporation
- Robert Bosch GmbH
- Hitachi Ltd.
Biometric driver identification system is very new technology in vehicle safety. Enhancing vehicle security, biometric driver identification system identifies individual from a set of features. Automotive manufacturers are integrating biometric driver identification system in vehicles to offer multi-level security. The biometric identification system is also being integrated into connected cars. Biometric system is also becoming popular among ride-sharing services, where it can help to identify various drivers sharing the car, same goes for the fleets. Manufacturers are also focusing on providing innovative features such as setting maps, music, and call history based on the preference of driver, as soon as the driver is identified. Manufacturers are also including advanced biometric system technology where it can monitor eye movement of the driver and can also alert them in case of distraction and drowsiness. Biometric driver identification system is also being developed including 3D facial recognition and multi-factor authentication.
According to a study by Fact.MR, the global biometric driver identification system market is expected to experience healthy growth. The market is projected to increase to 23.9% CAGR during the forecast period 2017-2022. Owing to the increased safety and comfort features in various car models and increasing awareness towards safety are some of the factors driving the demand for biometric driver identification system. Manufacturers have started developing biometric driver identification system with advanced features that enhance driving experience along with safety.
5 Key Insights on Global Biometric Driver Identification System Market
- 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.
- 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.
- 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.
- Biometric driver identification system is expected to be largely used for engine start-stop system. Engine start-stop system will account for nearly one-third of the revenue share by the end of 2017. Meanwhile, driver fatigue & drowsiness monitoring system in biometric driver identification system is also estimated to witness impressive growth, creating an incremental opportunity of more than US$ 3,500 million during 2017-2022.
- Compared to various technologies in biometric driver identification system, Iris scan technology will likely experience robust growth. Iris scan as biometric driver identification system technology is projected to reach close to US$ 4,000 million revenues by 2022 end.
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Report Benefits & Key Questions Answered
- Biometric Driver Identification System Company & brand share analysis: The report offers in-depth Biometric Driver Identification System brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
- Biometric Driver Identification System Historical volume analysis: The report offers a comparative analysis between historic sales of Biometric Driver Identification System and projected sales performance for 2021-2031
- Biometric Driver Identification System Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
- Biometric Driver Identification System Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
- Post COVID consumer spending on Biometric Driver Identification System: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power
More Valuable Insights on Biometric Driver Identification System Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Biometric Driver Identification System, Sales and Demand of Biometric Driver Identification System, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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