Vehicle Access Control Market is Booming. Watch Out Latest Trends

The Vehicle Access Control Market is projected to grow from USD 10.8 billion in 2020 to reach USD 22.6 billion by 2027, at a CAGR of 11.2%.

Car manufacturers are focusing more on vehicle safety and security to prevent the rising instances of thefts. The continuous increase in vehicle theft has led to the growth of the vehicle access control market. Other major factors responsible for growth are the demand for luxury vehicles, increasing vehicle production, increasing sales of electric vehicles, and the advent of autonomous and semi-autonomous vehicles.

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).

Biometric system is expected to lead the vehicle access control market 

Although, PCs and LCVs are equipped with basic security features like anti-theft alarms and immobilizers, the upcoming advanced features, especially in premium cars, are demanding biometric systems to make access more convenient for the driver and provide multiple authentications. The personalization offered by biometric systems in cars favors the demand for safety and security in the future. Fingerprint recognition is the most researched and ready to launch feature today in PCs. The first car to get the fingerprint access will be Hyundai Santa Fe (for China market first), and this feature will most likely come down the stream and find itself on a range of vehicles in the coming few years.

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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 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.

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.

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Europe is expected to have the second-largest market during the forecast period.

Europe accounted for the second-largest market in 2020. It is a major hub for several renowned OEMs including Volkswagen, Daimler, Renault, Volvo, and others. Germany is the largest market in the region. The country is likely to hold the largest share of the global market by 2027. The country has sufficient investment in technology and the production of premium car segments for the testing of vehicle access control. As per industry experts, Germany OEMs would soon deploy vehicle access control systems, especially biometric authentications for PCs and LCVs, on a large scale.

Critical Questions:

• Where will biometric access take the industry in the long term? What will be the growth of the biometric and non-biometric based vehicle access control systems?
• How will the biometric access control market cope with the challenge of the high cost of implementation?
• What is the impact of a phone-based vehicle access system on the market?
• What are the upcoming trends in-vehicle access technology? What impact would they make post-2020?
• What are the key strategies adopted by the top players to increase their revenue?

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