Vehicle Access Control Market Outlook
According to a new report by Expert Market Research titled, “Vehicle Access Control Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global vehicle access control market reached a value of USD 12.94 billion in 2023. Aided by increasing incidence of vehicle theft and the growing awareness regarding vehicle security, the market is projected to further grow at a CAGR of 11% between 2024 and 2032 to reach a value of USD 24.15 billion by 2032.
Vehicle access control systems, often seen as the first line of defence in vehicle security, incorporate various technological components to ensure the secure access and start of vehicles. Ranging from biometric systems, smart key access, electronic device verification to RFID systems, these solutions play a critical role in mitigating vehicle thefts and ensuring the safety of both the vehicle and its occupants.
The vehicle access control market growth is primarily driven by the ever-evolving automotive industry. With vehicles becoming increasingly connected and intelligent, there is a growing need for advanced security systems to safeguard these vehicles from potential threats. Moreover, the advent of autonomous vehicles and shared mobility solutions emphasises the indispensable role of robust vehicle access control systems to authenticate users and ensure the overall safety of the mobility ecosystem.
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Biometric solutions and Internet of Things (IoT) integrated systems is considered as one of the major vehicle access control market trends. Modern vehicles, especially in the luxury segment, are increasingly adopting facial, fingerprint, and voice recognition systems to enhance security. This not only offers a personalised user experience but also adds an extra layer of security, making it nearly impossible for intruders to gain unauthorized access.
Furthermore, the vehicle access control market demand is expected to observe a significant boost from the rapidly growing electric vehicle (EV) sector. As these vehicles are operated via advanced electronic systems, their integration with sophisticated access control solutions becomes essential. Additionally, fleet management in commercial sectors and car-sharing platforms are vigorously adopting advanced vehicle access systems, ensuring that only authorised personnel can access and operate the vehicles.
The vehicle access control market analysis also reveals the technological developments taking place within the transportation sector. Innovations are not just limited to biometrics or IoT but also encompass the integration of Artificial Intelligence (AI) and machine learning. These technologies facilitate predictive analysis, wherein the system can predict potential threats based on behavioural patterns and take pre-emptive measures.
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Vehicle Access Control Market Segmentation
The market can be divided based on system type, technology, vehicle type, electric vehicle, and region.
Market Breakup by System Type
- Biometric System
- Face Recognition System
- Fingerprint Recognition System
- Iris Recognition System
- Voice Recognition System
- Non-Biometric System
- Immobilizer
- Steering Wheel Lock
- Stolen Vehicle Assist
- Others
Market Breakup by Technology
- NFC
- Bluetooth
- RFID
- Wi-Fi
Market Breakup by Vehicle Type
- Passenger car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Market Breakup by Electric Vehicle
- Hybrid Electric Vehicle
- Plug-In Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global vehicle access control market. Some of the major players explored in the report by Expert Market Research are as follows:
- DENSO Corporation
- Valeo
- Continental AG
- Robert Bosch GmbH
- Mitsubishi Electric Corporation
- HELLA GmbH & Co. KGaA
- Intellicar Telematics
- Others
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