Biometric Driver Identification System Market

Biometric Driver Identification System Market – Key Insights

• The biometric driver identification system market registered a striking CAGR of over 19% during the period, 2012 to 2016. Sales of biometric driver identification system are anticipated to remain driven by their adoption in the fleet management companies, where drivers’ safety is a ‘top-of-the-mind’ concern.
• The biometric driver identification system market was valued at US$ 10 Bn in 2018, and forecast to register a remarkable Y-o-Y growth of nearly 25% in 2019.
• North America will remain a lucrative market for biometric driver identification system, attributed to the region’s technological and economic vigor, along with strong awareness pertaining to vehicle safety.
• Europe is anticipated to hold the second largest position in the biometric driver identification system market, on account of stringent government policies in the region to ensure road safety, and encourage the adoption of security systems in manned vehicles.

What are the Significant Growth Determinants for the Biometric Driver Identification System Market?

• Growing preference for on-demand cab booking businesses have paved lucrative growth opportunities for the biometric driver identification system market. Gains are expected to witness a tremendous rise as these security systems witness rapid adoption in on-demand cab services for safety of passenger and driver alike.
• Incorporation of the biometric driver identification system for monitoring health conditions such as fatigue and drowsiness among drivers is gaining widespread popularity to control and prevent the road accidents.
• Biometric driver identification systems seek extensive use in the fleet management, on the back of their efficacy to gauge individual driver’s performance and prevent unauthorized use of vehicles, thereby ensuring safety.
• Focus of the fleet management companies to expand their driver base has resulted in the incorporation of advanced features in vehicles. This has complemented the adoption of biometric driver identification system as a unique selling proposition, in line with strengthening their marketing campaigns.
• Evolving consumer lifestyle and spending capacity have underpinned sales of vehicles with enhanced safety features, to prevent unauthorized access and reduce the risk of theft. This will significantly complement growth of the biometric driver identification system market.
• Growth of the biometric driver identification system market is also expected to remain influenced by the stringent government policies pertaining to road safety, which recommend and mandate the incorporation of key security systems into vehicles.

What are the Key Challenges Encountered by the Biometric Driver Identification System Industry?

• Limited penetration of technology in emerging economies and lack of consumer awareness apropos of advanced vehicle safety features will impede the sales of biometric driver identification system.
• High cost of these safety modules, when incorporated in vehicles, make them a premium feature, which in turn impacts the overall cost of the vehicles. This has further constrained adoption to a certain extent.

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.

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.

Additional Insights

Multi-Biometrics Equipped with Real-Time Recognition – A Key Trend

The biometric driver identification market has been witnessing a significant growth in the development of solutions that operate multiple features, with competent security and accuracy. Key players in the biometric driver identification system market have been working on matching fingerprint and face details, apart from the multi-modal capabilities. Additionally, real-time biometric recognition while matching databases has emerged as the next level of identification security.

Leading players in the biometric identification system market have also been working on the development of facial recognition systems that would detect the tiredness of drivers, thereby reducing the chances of road accidents. Infrared sensors have recently begun witnessing adoption in the biometric driver identification system for monitoring and anticipating distractions to drivers. It is highly likely that the biometric driver identification system will replace the drivers’ license in the long run.

Research Methodology

This detailed research report on the biometric driver identification system market is the result of an accurate and reliable research methodology employed to compile the study and assess the crucial drivers, trends, and restraints of biometric driver identification system market. Primary as well as the secondary research methodologies have been leveraged to obtain significant insights into the biometric driver identification system market.

Interviews with the experts of biometric driver identification system market were set up in order to form the basis of the primary research of biometric driver identification system market, while press releases, trade journals, paid sources and similar other publications related to biometric driver identification system market.

Ultimately, the data obtained from the primary and secondary methodologies are combined to filter out any misleading and vague information and the research report is compiled with only accurate of the insights into biometric driver identification system market.