Vehicle Access Control Market worth $22.6 billion by 2027
                     MarketsandMarkets 
Presents
Vehicle Access Control Market 
worth $22.6 billion by 2027
https://www.marketsandmarkets.com/Market-Reports/vehicle-access
-control-market-266613080.html
The report "Vehicle Access Control Market by Biometric 
(Fingerprint, Face, Iris, Voice), Non-biometric (Stolen Vehicle 
Assist, Keyless, Immobilizer, Alarm, Steering Lock), Technology 
(Bluetooth, NFC, RFID, Wi-Fi), Vehicle Type, EV & Region - Global 
Forecast to 2027" The global 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%. 
The growth of the vehicle access control market is influenced by the 
rising demand for security & safety features, increase in vehicle theft, 
advanced technological investments in automotive, the growing concern 
of insurance companies over vehicle theft, and increasing sales of the 
electric vehicles.
Browse 58 market data Tables and 67 Figures spread 
through 161 Pages and in-depth TOC on "Vehicle Access Control 
Market”
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Passenger car is expected to be the largest market
The passenger car segment is expected to be the largest market during 
the forcasted year due to the adoption of advanced features in 
passenger cars such as keyless entry, immobilizer, stolen vehicle assist, 
and alarm. Increasing vehicle theft is one of the primary reasons for 
OEMs to pre-install vehicle access control systems. According to the 
Insurance Information Institute (III), there were 773,139 vehicles stolen 
in 2017, up by 0.8% from 767,290 vehicles in 2016. One motor vehicle 
theft was reported every 40.9 seconds in the United States in 2017. The 
contribution of non-biometric systems has increased significantly in 
automotive as all basic models are offering non-biometric systems in 
passenger cars in the developed countries such as US, Germany, UK, 
France, Canada, Spain, and Japan.
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.
Asia Pacific is expected to be the fastest growing market during 
the forecast period
The Asia Pacific market is the largest because of the growth in China, 
Japan, and South Korea. Rising vehicle production, increasing demand for 
luxury vehicles, growing sales of electric cars, and high technological 
development in the region are driving the vehicle access control market 
in Asia Pacific. Companies such as KIA, Aptiv, Nissan, and Hyundai are 
the major players present in the region. The digitalization in the region 
also drives growth. For instance, China will be the first country to test 
fingerprint and face recognition in the upcoming years. OEMs are 
collaborating with biometric manufacturers to implement these systems 
for car authentication. For example, in March 2019 Hyundai invested 
USD 5 million in China’s Deep Glint, a Chinese startup specializing in 
computer vision technology utilizing artificial intelligence.
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).
Don’t miss out on business opportunities in Vehicle Access Contr
ol Market. Speak to our analyst and gain crucial industry insight
s that will help your business grow.
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