LeapZipBlog: Steve Blade's blog: Biometric Identification System Market: Growing Popularity of Shared Rides to Foster Greater Adoption

Biometric Identification System Market: Growing Popularity of Shared Rides to Foster Greater Adoption

May 23, 2019 by Steve Blade  

 The automotive industry is fast embracing sophisticated technologies to ensure uncompromised vehicle security pertaining both occupant as well as pedestrian safety. Biometrics has emerged as one of the most resilient tools to ensure optimum safety standards for commuters. Passenger vehicles space has been witnessing exponential spike to ensure seamless transportation. Guided by the same, adoption of advanced security measures to curb incidences of theft as well as unauthorized access have propelled adoption of advanced technologies. Growing applications of fleet vehicles on the back of surged trade activities, besides passenger inclination towards shared rides are poised to further encourage adoption of biometric driver identification system.

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Besides ensuring driver authenticity advances in biometric technologies also determine health conditions of the drivers to ascertain safe drives. Implementing iris recognition not only authenticates driver identity but also aids in recognizing drowsiness and distraction. Such integrated biometric driver identification system remains pivotal in activating auto mode driving option in autonomous vehicles, thereby ensuring adequate safety. Additionally, such advanced technologies also aid in propelling an extremely personalized driving experience based on chosen driver preferences for in car music system, maps, and call records. Technological leaps as such, coupled with massive advances in automobile ownership are estimated to keep growth impressive in biometric driver identification system market in subsequent times.

 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.

Despite full-fledged adoption across mature economies such as North America and Europe, developing economies are yet to follow the trend. Leading market participants therefore are diverting ample resources towards sensitization programs to create ample mindfulness about the benefits of biometric driver identification system.

Biometric Driver Identification System Market: Overview

The biometric driver identification system market has been analyzed in detail to offer definitive forecast insights on the market for the period 2017-22. This report is an exhaustive compilation of a detailed overview of biometric driver identification system market and analyzes the market in terms of market dynamics, macro and micro-economic determinants that shape market growth, also shedding light on other relevant factors that direct future prospects of the market trajectory.

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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.

Biometric driver identification system market: Competition Landscape

This section of the report offers a detailed section on key contributors in biometric driver identification system market. A dashboard view of each of the mentioned profiles complete with detailed insights on their respective SWOT analysis along with detailed assessment of their product portfolio, market contribution, as well as recent developments have been slated to aid readers’ understanding about the competition spectrum.

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, and Hitachi Ltd.

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