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Emerging Business Models Hold Huge Market Potential for Biometric Applications
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The global automotive biometrics market is witnessing high growth projections, due to the emerging use cases of the technologies in the field. Despite a slowdown in the automotive market, integration of biometric technologies in vehicles remains a key area of focus for automotive vendors and OEMs. Automotive vendors are looking for biometric solutions to augment vehicle security and enable premium vehicle ownership experience for customers through value addition.Vehicle security remains a key application area for biometrics in the automotive market. Biometric modalities such as fingerprint and facial biometrics are gradually being adopted as a security alternative, with major vendors integrating the technology for keyless door unlocking, surveillance, and keyless ignition. In addition, high scrutiny over passenger security among public ride-hailing companies is creating the need for biometrics to ensure passenger safety. In the next few years, use of biometrics for vehicle security will be pervasive.While dominant modalities are being widely adopted for basic access controls, global trends such as Internet of Things (IoT) are widening the range of biometrics use. Connected cars and smart mobility are disrupting conventional automotive businesses and creating the need for high-level automation and security. Use of biometrics for driver monitoring via gesture recognition and cognitive sensing to ensure safety and alertness during automated driving will hold immense growth potential.In addition, value-added business models such as Device-as-a-Service are emerging in the industry. Role of biometrics remains seminal in enabling a high level of ownership, due to the importance of biometric data for the personalization and assessment of driver’s preferences to improve in-vehicle experience. Health Wellness and Well-being (HWW) is a new avenue for automotive biometrics that can expand the use of technology to enhance customer experience.Automotive vendors and OEMs are increasingly partnering with major technology vendors and system integrators to rapidly capitalize on the advantages of the technologies. As biometrics becomes more ubiquitous in automotive, market partnerships and acquisitions are expected to grow. Advanced biometrics and wearable technologies will become pervasive in automotive, with synergic market partnerships among companies to provide unified and turnkey biometric solutions.
Key Issues Addressed
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