Biometric Identification Market for ICE, EV & Autonomous Vehicles to be worth 21.72 Billion USD by 2022
The biometric identification market for automotive, by value, is projected to grow at a CAGR of 25.61% from 2017 to 2022, to reach USD 21.72 Billion by 2022. Factors such as rising focus on safety, security, and comfort and increase in sales of premium vehicles are projected to fuel the demand for advanced biometric identification technologies. The increase in sales of hybrid, electric, and plug-in hybrid vehicles would also influence the demand for biometric identification system in the near future.
So why is this market booming?
- Voice recognition systems to be the largest market for biometric identification
- Fingerprint recognition showing the fastest growth across all segments in the last decade
- Presence of large number of manufactures across the North American Sub-Urban areas
