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(Transportation-News.com, June 28, 2019 ) The Global Vehicle Access Control Market is projected to grow from USD 10.8 billion in 2020 to 22.6 billion by 2027, at a CAGR of 11.2%.
The rising concern towards vehicle security, growing production of PCs and LCVs, and the increasing demand for the electric vehicle have led to the growth of the market. Premium car models would provide another sustainable and profitable revenue stream in the future for vehicle access based biometric systems in the automotive industry.
The global vehicle access control market is dominated by major players such as Denso Corporation (Japan), Valeo (France), Continental AG (Germany), Robert Bosch (Germany), and Nuance Communication (US). These companies have strong distribution networks at a global level. Besides, these companies offer an extensive service range in the market. The key strategies adopted by these companies to sustain their market position are new product developments, collaborations, and contracts & agreements.
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Recent Developments:
* Denso, in October 2017, announced that it would expand its US footprint with a USD 1 billion investment in its Maryville, Tennessee location. The investment would also expand multiple production lines to produce advanced safety, connectivity, and electrification products for hybrid and electric vehicles. These new products would radically improve fuel efficiency and preserve electric power by recovering and recycling energy, and by connecting all systems and products inside the vehicles.
* Denso Corporation and Toshiba Corporation, in October 2016, have reached a basic agreement to jointly develop an artificial intelligence technology called Deep Neural Network-Intellectual Property (DNN-IP), which will be used in image recognition systems developed independently by these two companies to achieve advanced driver assistance and automated driving technologies. DNN, an algorithm modeled after the neural networks of the human brain, is expected to perform recognition processing as accurately as or even better than the human brain.
* Continental, in February 2019, announced its successful acquisition of Kathrein Automotive GmbH. Incorporating the automotive division of Kathrein, a Rosenheim-based antenna, and satellite technology manufacturer is a move that will give Continental an important key segment to add to its wealth of expertise. Potential applications range from remote access keys and navigation applications to telematics solutions.
* Bosch has announced its keyless digital access service, in January 2019. It recognizes the owner’s smartphone digital fingerprint and opens the vehicle only for them. The keyless service offers the driver greater convenience and flexibility. The app allows the vehicle owner to grant other users access to their vehicle. For this, an additional key is sent by the cloud.
* Nuance Communications, in December 2018, introduced humanized mobility assistant that will be core to the digital, button-free car of the future. With these advancements, Nuance has created the world’s first multi-sensorial, cognitive mobility assistant that is poised to change the way drivers and passengers interact with their vehicles, other forms of mobility and transportation, and smart cities.
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North America is expected to witness significant growth during the forecast period.
An increasing number of vehicle theft incidents will drive the demand for advanced security features like keyless entry and electronic immobilizers. Vehicle theft instances have grown significantly in the US. According to the National Insurance Crime Bureau, USD 6 billion was lost due to vehicle thefts in the US. Therefore, OEMs are adding new features like stolen vehicle assist and electronic immobilizers for better vehicle safety and security.
Moreover, vehicles in the US are occupied mostly with advanced systems such as vehicle stolen assist, keyless entry, electronic immobilizers, and others, which will fuel the overall growth of the market. Rising EV sales and demand for LCVs in Canada and the US will boost the market. Large scale autonomous vehicle testing and deployment will require vehicle safety features like face and fingerprint recognition.
The non-biometric system is expected to lead the vehicle access control system during the forecast period
The non-biometric system is expected to be the largest and the fastest growing market. The system uses automotive sensors, which are a reliable and less costly technology. These sensors are relatively simple and used in applications like keyless entry, allowing OEMs to adopt such features in almost all premium models, easily. This trend for safety features with reliability is expected to boost the market.
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