Biometric Driver Identification System Market Accelerates at 23.8% CAGR to Cross US$ 144.44 Billion by 2033 | Fact.MR

Integration of AI and ML in Biometric Driver Identification Systems Offering Personalized and Secure Driving Experiences

/EIN News/ -- Rockville , Oct. 31, 2023 (GLOBE NEWSWIRE) -- As per a detailed study by Fact.MR, a market research and competitive intelligence provider, the global Biometric Driver Identification System Market is valued at US$ 17.08 billion in 2023 and is projected to reach US$ 144.44 billion by 2033-end.

The market is experiencing remarkable growth and transformation due to the convergence of automotive and biometric technologies. Biometric driver identification systems aid in enhancing vehicle security, personalization, and user experience by integrating biometric authentication methods, such as facial recognition, fingerprint scanning, and iris detection, into vehicles.

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Key Segments of Biometric Driver Identification System Industry Research Report

By Vehicle Type	By Identification Technique	By Application
Passenger Cars Light Commercial Vehicles Heavy Trucks and Buses	Face Recognition Iris Recognition Fingerprint Recognition Palm Recognition Voice Recognition	Vehicle Security Systems Driver Safety Systems Advanced Steering and Infotainment Others

Advancement of the automotive industry towards autonomous and connected vehicles is driving the need for robust driver identification systems. Biometric driver identification systems offer a sophisticated solution that not only ensures security but also provides a seamless and personalized driving experience.

Artificial intelligence (AI) and machine learning (ML) algorithms are increasingly incorporated into these systems for continuous monitoring and adaptation to driver behavior, leading to a more personalized and secure driving experience. Biometric systems are also being integrated with connected vehicle technologies, which help in communicating with other vehicle systems and even external devices, offering a holistic approach to vehicle control and safety.

Stringent regulations related to vehicle safety and data privacy are encouraging automakers to integrate advanced security measures, including biometric systems. Also, the development of electric and autonomous vehicles is fueling the adoption of biometric systems, as they play a crucial role in ensuring that only authorized individuals can access these advanced vehicles.

Key Takeaways from Market Study

• The global biometric driver identification system market is predicted to increase at a CAGR of 23.8% from 2023 to 2033.
• Stricter regulations and a growing focus on vehicle security are driving sales of biometric driver identification systems in North America.
• Europe, led by countries such as Germany and the United Kingdom, is a significant market for luxury and premium vehicles with integrated biometric systems.
• The Asia Pacific market is exhibiting rapid growth due to a tech-savvy consumer base, a strong automotive industry, and an increasing demand for biometric system-enabled electric vehicles, especially in Japan and South Korea.

“Advancements in biometric driver identification systems are reducing the risk of unauthorized access and vehicle theft, which is a major concern among vehicle owners,” says a Fact.MR analyst.

Competitive Analysis

Leading biometric driver identification system manufacturers are Gentex Corporation, Denso Corporation, Fingerprint Cards AB, and Hitachi, among others. Leading companies are focusing on product differentiation, partnerships with vehicle manufacturers, and adherence to data security regulations to gain a competitive edge. Regional expansion and collaborations are also contributing to market growth.

• In January 2022, LG Electronics introduced a technology that enables car owners to start their vehicles without a physical key. This system utilizes in-car cameras to recognize facial expressions and finger gestures. One camera identifies body parts, while the other camera adjusts angles to capture the iris and other biometric data.
• Daimler Mobility, a subsidiary of Mercedes-Benz, joined forces with Visa to implement fingerprint scans for secure digital payments directly from the vehicle. This pioneering solution enables drivers to seamlessly complete transactions, eliminating the need for voice commands or PINs. The technology was first introduced in the United Kingdom in 2022 and has since expanded on a global scale.

Report Attribute	Details
Value Projection (2033)	USD 144.44 Billion
Growth Rate (2023-2033)	23.8% CAGR
No. of pages	170 Pages
No. of Tables	276 Tables
No. of Figures	102 Figures

Key Companies Profiled

• Bayometric
• Iritech, Inc.
• Marquis ID Systems
• Techshino
• 3M Cogent Inc.
• Fulcrum biometrics
• Griaule Biometrics
• SRI International
• NEC Corporation
• Iritech Inc.
• Griaule Biometrics
• Thales Group
• Continental AG
• Fujitsu Ltd.
• Fingerprint Cards
• Gentex Corporation

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global biometric driver identification system market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights on the market based on vehicle type (passenger cars, light commercial vehicles, heavy trucks & buses), identification technique (face recognition, iris recognition, fingerprint recognition, palm recognition, voice recognition), and application (vehicle security systems, driver safety systems, advanced steering & infotainment, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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