Automotive biometric market is expected to reach at $1,128 Mn by 2024, Asia-Pacific is anticipated to exhibit the highest CAGR during forecast period 2018-2024

PORTLAND, ORAGON, UNITED STATES, August 18, 2021 /EINPresswire.com/ -- Biometric system is a technology that uniquely identifies biological traits such as fingerprints, hand geometry, voice waves, DNA, signatures, earlobe geometry, and retina & iris patterns. Increase in application of biometric technology for better security purpose in airports, automobiles, offices, personal gadget, and others has led to significant market growth.

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The biometric market in automotive sector is driven by surge in investment on R&D activities by biometric vendors to commercialize the use of biometric systems in automobiles and increase in adoption of keyless entry systems, owing to reduced vehicle thefts.

However, lack of awareness among consumers is expected to hinder the market growth. Moreover, growth in demand for automobiles in emerging market due to strong economic growth, ideal demographics, and high standard of living is expected to offer numerous opportunities for market growth.

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The biometric market in automotive sector is divided based on end user, technology, and geography. On the basis of end user, it is bifurcated into commercial and consumer vehicles. Based on technology, it is divided into voice recognition, iris recognition, fingerprint biometrics, facial recognition, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the biometric market in automotive sector are Suprema Inc., NEC Corporation, Safran, Infineon Technologies, CrossMatch Technologies, Fulcrum Biometrics, Synaptics, Techshino, BioEnable, and Miaxis.

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Key Benefits

This report provides an extensive analysis of the current and emerging market trends and dynamics in the global biometric market in automotive sector to identify the prevailing market opportunities.

In-depth analysis is done by constructing market estimations for the key market segments between 2016 and 2023.

Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.

Comprehensive analysis of all regions is provided to determine the prevalent opportunities in these geographies.

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