Northrook, IL -- (SBWIRE) -- 02/20/2020 -- The Global Vehicle Access Control Market is projected to grow from USD 10.8 billion in 2020 to 22.6 billion by 2027, at a CAGR of 11.2%. The rising concern towards vehicle security, the growing production of PCs and LCVs, and the increasing demand for electric vehicles have led to the growth of the market. Premium car models would provide another sustainable and profitable revenue stream in the future for vehicle access based biometric systems in the automotive industry.

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).

A light commercial vehicle is expected to emerge as the fastest market during the forecast period

The light commercial vehicle is expected to be the fastest-growing market during the forecast period. Safety features like alarms, immobilizers, and central locking are now added as a standard attribute by OEMs in the developed countries. The continuous increase in the demand for LCVs in countries such as the US, Germany, France, and the UK is attributing to the growth of this market for LCVs. Moreover, a shift in consumer preference is fuelling vehicle access control market growth. Additionally, the sales of LCV is continually increasing in many countries, which will boost demand.

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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 vehicle access control 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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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?