LeapZipBlog: Steve Blade's blog: Biometric Driver Identification System Market: Growing Preference for On-Demand Cab Booking Businesses have Paved Lucrative Growth Opportunities

Biometric Driver Identification System Market: Growing Preference for On-Demand Cab Booking Businesses have Paved Lucrative Growth Opportunities

June 13, 2019 by Steve Blade  

Fact.MR finds that demand for biometric driver identification systems will be supported by their ability to ensure the safety of drivers, while enhancing their driving experience. According to a recent study of Fact.MR, the biometric driver identification system market is envisaged to register a remarkable Y-o-Y growth of over 25% in 2019 over 2018.

Technological vigor of North America has made it the most lucrative market for biometric driver identification system. The study estimates revenues from sales of biometric driver identification systems in North America to exceed US$ 1 Bn in 2019.  Additionally, high purchasing power of consumers in North America has enabled spending on vehicles equipped with enhanced safety features and technologies, thereby complementing demand for biometric driver identification systems.

The study states that Europe will also remain a lucrative market for the biometric driver identification system, underpinned by stringent government mandates associated with the automobile safety and security.

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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.

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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.

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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About Fact.MR
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