Vehicle Access Control Market to have a Promising Future Ahead!

Vehicle Access Control Market

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 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 vehicle access control market comprises major manufacturers like Continental AG (Germany), Robert Bosch (Germany), Voxx International (US), Lear Corporation (US), Fingerprint AB (Sweden), Nuance Communication (US), Synaptics (US), and others.

The Asia Pacific is estimated to be the fastest-growing market during the forecast period, due to the increasing adoption of vehicle access control systems such as keyless entry, immobilizers, stolen vehicle assist, theft alarm and implement of biometric access systems. The region is also home to major car manufacturers such as Hyundai, Toyota, Honda, Kia, Nissan, and BYD, among others. Hyundai has planned to implement fingerprint access in the new 2019 Santa Fe model. The introduction of biometric access technology in cars will boost the demand for vehicle access control in the region. The Asia Pacific is the largest producer of vehicles in the world, which also fuels the overall growth of the market. Moreover, the increasing penetration of vehicle access control systems in the region due to the need for safety & security of automobiles is expected to propel market growth.

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The European region is the second largest market, as it focuses highly on vehicle safety and security. Moreover, it encourages the implementation of advanced vehicle access technology in vehicles such as stolen vehicle assist, electronic immobilizers, keyless entry, and many others. Europe has an extensive presence of vehicle access control manufacturers such as Continental AG, Robert Bosch, and Fingerprint AB, among others. These advancements will further increase the demand for vehicle access control technology in vehicles. European countries such as Germany and the UK were among the first to mandate the adoption of vehicle immobilizers. The positive impact of these regulations is expected to increase the demand for alarms and immobilizers.  Passenger car manufacturers such as Audi, BMW, and Mercedes-Benz, have developed their own patented GPS-based security services which further boosts the overall demand of the vehicle access control market in Europe.

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Recent Developments:

Continental, in February 2019, announced its successful acquisition of Kathrein Automotive GmbH. Incorporating the automotive division of Kathrein, a Rosenheim-based antenna, and satellite technology manufacturer is a move that will give Continental an important key segment to add to its wealth of expertise. Potential applications range from remote access keys and navigation applications to telematics solutions.

Bosch has announced its keyless digital access service, in January 2019. It recognizes the owner’s smartphone digital fingerprint and opens the vehicle only for them. The keyless service offers the driver greater convenience and flexibility. The app allows the vehicle owner to grant other users access to their vehicles. For this, an additional key is sent by the cloud.