The Global Vehicle Access Control Market is forecast to reach USD 23.00 Billion by 2026, according to a new report by Reports and Data. Vehicle access control system is an electronic system that is developed to administer the movement of vehicles over an area. Growing crime rate accredited to vehicle theft has increased the demand for safe and secure procedures for the protection of automobiles. Change in lifestyle has led automotives to become a crucial component of today’s world. It has become a vital part of day-to-day activities.
These systems are integrated with entrance automation equipment such as CCTV, barriers, license plate recognition (LPR)/automatic number plate (ANPR), RFID long range readers, RFID controllers, video management, smart cards, biometrics, and specialized windshield long-range tags, to provide hassle-free vehicle management. It also helps in enrollment, mapping authentication of vehicles, owners, drivers helpers. It helps in optimizing space inculcating security
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Further key findings from the report suggest
- Passenger cars held a market share of 35% in the year 2018 owing to the adoption of several advanced features such as immobilizers, keyless entry, alarm, and stolen vehicle assist.
- Increase in vehicle theft is one of the major reasons for the original equipment manufacturer to pre-install vehicle access control systems
- Fast growing middle-class group and burgeoning consumption will fuel the growth of the commercial vehicles in emerging nations. Increase in urbanization and shift in consumption will lead to shifts in market segments.
- Traffic management is forecasted to hold a market share of 18% in the year 2026, and tollways have a CAGR of 12.3% during the forecast period.
- Biometric held the largest market share of 27% in the year 2018. Vehicles are equipped with non-biometric like alarms, keyless entry, and other security measures; premium cars are utilizing the latest technology for the protection of the vehicles.
- These cars have biometrics security measures such as fingerprint lock, face, and iris scanners. These features are demanded to provide multiple authentications and make access more convenient for drivers.
- The non-biometric system has the highest CAGR of 12.9% during the forecast period and is forecasted to hold a market share of 25% in the year 2026.
- Bluetooth, Radio Frequency Identification (RFID), and Wi-Fi are all technologies that can be connected via smartphones and used to control the movement of vehicles.
- Bluetooth held a market share of 15% in the year 2018, and Wi-Fi is forecasted to hold a market share of 12% in the year 2026.
- China, Japan, and South Korean regions are focusing on developing, testing, and deploying biometric system authentication. Hyundai in South Korea has already been successful in launching fingerprint biometric in cars.
- These research and development in automotive in the APAC region are encouraging the growth of the market in this region. Asia Pacific is forecasted to have the highest CAGR of 13.0% during the forecast period.
- Key participants include Johnson Electric, Valeo, Synaptics Incorporated, Voxx International, Denso Corporation, Robert Bosch, Methode Electronics, Mitsubishi Electronic, Fingerprint Cards Ab, and Continental AG among others.
Vehicle Type Outlook (Revenue, USD Billion; 2016-2026)
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Technology Outlook (Revenue, USD Billion; 2016-2026)
- Biometric
- Non-Biometric
- Near Field Communication (NFC)
- Bluetooth
- Radio Frequency Identification (RFID)
- Wi-Fi
Application Outlook (Revenue, USD Billion; 2016-2026)
- Traffic management
- Sensitive sites/Facilities/Zones
- Toll Ways
- Commercial Buildings
- Residential Buildings
- Others
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Based on the regional analysis, the market is divided into key geographical regions:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
The regional analysis covers a country wise analysis of each major region and offers critical insights into revenue growth, market share, market growth, current and emerging trends, production and consumption ratio, demand and trends, presence of key players in each region, and other key factors influencing the regional growth.
Table Of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
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