Vehicle Access Control Market Report bys

Fortune Business
Fortune Business 12/28/2020 8:18:44 AM

Vehicle Access Control Market  Report by Technology, Industry Share and Size
Expansion to 2026 | Fortune Business Insights™


Vehicle Access Control Market Size,
Share & COVID-19 Impact Analysis, By Type (Biometric System, Non-Biometric
System), By Technology (RFID, NFC, Bluetooth, Others), By Vehicle Type
(Passenger Car, Commercial Vehicle) and Regional Forecast, 2020-2027 is set to
gain momentum from the increasing adoption of standardized interface
technologies by reputed manufacturers, such as Hyundai, BMW, and Honda. These
technologies surge the commercial viability of passive vehicle access control
systems, as well as enable greater convenience for consumers.

Fortune Business Insights™ in a new
study, titled
Vehicle Access Control Market Size,
Share & COVID-19 Impact Analysis, By Type (Biometric System, Non-Biometric
System), By Technology (RFID, NFC, Bluetooth, Others), By Vehicle Type
(Passenger Car, Commercial Vehicle) and Regional Forecast, 2020-2027.” The
study further mentions that the market size was USD 9.61 billion in 2019 and is
projected to reach USD 12.45 billion by 2027, exhibiting a CAGR of 6.6% during
the forecast period.

 

COVID-19 Pandemic: Rising Focus on
Reducing Innovation Funding May Hamper Demand

The emergence of the COVID-19 pandemic
has taken a toll on the automotive industry by declining global demand,
disrupting supply chains, and closing of assembly plants. The elimination of
various passenger cars and commercial vehicles is set to affect the ability of
carmakers to invest in research and development activities. Besides, the
pandemic has compelled manufacturers to focus on reducing innovation funding
and managing day-to-day cash flow. Our detailed research report will help you
take the right decision by gaining more insights into the current scenario of
the vehicle access control industry.

 

Drivers & Restraints

Increasing Need to Reduce Vehicle
Thefts will Favor Growth

Vehicle theft is a serious problem to
tackle with nowadays. The National Insurance Crime Bureau (NICB) published an
in-depth report in March 2019 that showcases a 56 percent rise in vehicle
thefts over the 147,434 vehicles stolen between the period of January 2013 and
December 2015. Besides, in the U.S., the number of vehicle thefts by using fobs
or keys increased to 229,339 between January 2016 and December 2018. Novel
techniques, such as fingerprint authorization and facial recognition, as well
as keyless car entries would be able to boost vehicle security. This, in turn,
can lessen the number of vehicle thefts. These factors are set to propel the
vehicle access control market growth in the coming years.

However, perfectly keyless systems and
biometric access would surge design complexities and component requirements.
Hence, it would require high manufacturing and installation cost, which, in turn,
is likely to obstruct the demand for vehicle access control systems.

 

Segment

NFC Segment to Grow Significantly
Backed by its Ability to Prevent Relay Attacks

Based on technology, the NFC segment
generated 3.97% in terms of the vehicle access control market share in 2019 and
is expected to grow significantly throughout the forthcoming years. This growth
is attributable to its cost-effectiveness that enables manufacturers to develop
card-based vehicle access control or NFC-based smartphones for mainstream
vehicles. This technology can also prevent relay attacks.

 

This Report Answers the Following
Questions:


  • What are the key strategies adopted by prominent firms to surge
    revenue?

  • Which are the upcoming trends in vehicle access control technology?

  • How will facial recognition technology cope up with the challenge
    of high cost?

  • Which segment and region are set to dominate the market in terms of
    share?

 

Regional Analysis

High Demand for Electronic Immobilizers
& Keyless Entry to Spur Growth in North America

Geographically, in 2019, North America
procured USD 3.47 billion in terms of revenue. The region is characterized by
the rising popularity of unique solutions, such as remote ignition disablers
and stolen vehicle assist. Also, the increasing cases of vehicle thefts is
surging the demand for keyless entry and electronic immobilizers in this
region.

Asia Pacific, on the other hand, is
anticipated to exhibit a higher CAGR in the near future stoked by the
increasing awareness programs regarding the beneficial properties of vehicle
access control solutions. In addition to that, the rising demand for high-end
automobiles and the increasing production of vehicles would enhance growth in
this region.

 

Competitive Landscape

Key Players Focus on R&D Activities
to Develop Secure Vehicle Access Control Solutions

The market for vehicle access control
is fragmented. Most of the companies are aiming to increase their research and
development initiatives for creating novel and highly secure solutions. Apart
from that, some of the others are focusing on strategic partnerships to gain a
competitive edge in the market.

A list of all the renowned vehicle
access control operating in the global market:


  • Continental AG (Hanover, Germany)

  • Robert Bosch GmbH (Gerlingen, Germany)

  • Denso Corporation (Aichi, Japan)

  • Valeo (Paris, France)

  • Nuance Communications, Inc. (Massachusetts, US)

  • Lear Corporation (Michigan, US)

  • Mitsubishi Electric Corporation (Tokyo, Japan)

  • NXP Semiconductors (Eindhoven, Netherlands)

 

Below are the two latest industry
developments:


  • June 2020: Continental bagged new orders from three
    vehicle manufacturers based in Asia & Europe for CoSmA, its
    smartphone-based vehicle access system. This system will be blended into
    the architecture of their upcoming vehicles. The production is expected to
    begin in 2021.

  • January 2019: Bosch
    introduced its Perfectly Keyless digital access service that can easily
    recognize the owner’s smartphone just like a digital fingerprint. Only
    then it can open the vehicle.  

 

Browse Detailed Summary of Research
Report with TOC:

https://www.fortunebusinessinsights.com/vehicle-access-control-market-103664

 

 

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