SAN FRANCISCO , June 17, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Vehicle Access Control - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE What's New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to our digital archives and MarketGlass Research Platform
Complimentary updates for one year
Edition: 9; Released: June 2022 Executive Pool: 893 Companies: 75 - Players covered include Biodit ; Calamp ; Continental AG ; Deepglint; Delphi Automotive ; Denso Corporation ; Fingerprint Cards AB ; Hypr ; Intellicar and Others. Coverage: All major geographies and key segments Segments: Type (Non-Biometric Systems, Biometric Systems); End-Use (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles) Geographies: World; United States ; Canada ; Japan ; China ; Europe (France ; Germany ; Italy ; United Kingdom ; Spain ; Russia ; and Rest of Europe ); Asia-Pacific (Australia ; India ; South Korea ; and Rest of Asia-Pacific ); Latin America (Argentina ; Brazil ; Mexico ; and Rest of Latin America ); Middle East (Iran ; Israel ; Saudi Arabia ; United Arab Emirates ; and Rest of Middle East ); and Africa .
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
Amid the COVID-19 crisis, the global market for Vehicle Access Control estimated at US$9.8 Billion in the year 2022, is projected to reach a revised size of US$13.8 Billion by 2026, growing at a CAGR of 7.8% over the analysis period. Non-Biometric Systems, one of the segments analyzed in the report, is projected to grow at a 7.6% CAGR, while growth in the Biometric Systems segment is readjusted to a revised 8.7% CAGR. The global market continues to be driven by increasing vehicle thefts. The rise in car thefts and crime is largely due to the growing black market for cars in developing countries in Asia-Pacific , Africa and Eastern Europe . In addition, the relative ease in liquidating stolen car parts, such as, engines, transmissions, air bags, radios, GPS units, radios, batteries, front/rear bumpers etc., is encouraging the rise in crime rates. Vehicle thieves can strip a car in less than 45 minutes and make money three times the value of the vehicle's worth by selling the individual parts. In the United States alone, an automobile is stolen every 5 seconds. Despite technology innovations in automotive security systems and growing sophistication of theft-deterrent devices, vehicle crime continues to result in billions of dollars of losses worldwide.
Most often, harvesting of key components can occur even while the car is parked and happens so quickly that it can difficult to notice even during daytime. One of the most commonly stolen components in a vehicle is the catalytic converter, which is specifically a very valuable component of a vehicle's emission control system that utilizes expensive precious metals, such as rhodium, platinum, and palladium for converting the environmentally harmful exhaust from an engine into less hazardous gasses. A stolen catalytic converter can typically fetch a price of US$50 -250. Moreover, it takes only a few minutes and the use of certain readily-available, basic battery-operated tools to remove a catalytic converter from a vehicle, in turn costing the vehicle owner substantial levels of stress and inconvenience as well as thousands of dollars for arranging an alternate transportation and getting their vehicle fixed.
Passive Keyless Entry (PKE) represents an evolving technology that the convenience of keyless entry without the need to press buttons. Although currently still a niche technology, passive keyless entry (PKE) is nevertheless poised for a period of strong growth, as the technology steadily makes it way towards the mainstream market. While a number of car brands offer pre-installed PKE systems, higher cost of PKE over RKE remains a major hindrance to widespread adoption. Although a smaller market in terms of unit installations, higher average prices make for a lucrative dollar market, thus explaining manufacturers' growing interest in this space. Cost reductions, consumer awareness and achieving economies of scale will remain prime challenges frustrating penetration of this technology in the marketplace. Increasing competition from low cost suppliers in the Asia-Pacific region is forecast to play its part in bringing down the high price structure. Manufacturer's strategies are therefore currently geared towards designing, developing and producing affordable, low cost systems. Penetration into the low-end auto segment is forecast to gain momentum as the technological moves higher up in its lifecycle. Long-term growth typically hinge onto successful development of low cost integrated solutions with value added features and functions.
Continuous technology innovations remain crucial for growth in this market segment. With currently available RKE (remote keyless entry) systems being vulnerable to hacking, efforts are underway to develop an innovative RFID (radio frequency identification) approach. Researchers are exploring the use of unique RFID cards in combination with a password authorization system to lock vehicles. The project is working to use driving license of a car owner as a unique RFID card in combination with password for added protection for vehicle access. The password-protected vehicle access system involves the use of a microcontroller based vehicle lock designed to enable authorized entry. The system consists of an LCD display with a touch screen module, mounted on the door and allows passwords to be entered through the touch screen. Entering the right password unlocks the vehicle; while 3 incorrect entries activates an alert to the car owner's registered mobile number. The project Password Protected Vehicle Access System, is designed to reduce hardware equipment. While in early stages, the project also intends to develop a theft alarm to be integrated into the RFID entry system to alert the car owner in the event of unauthorized access attempts.
Biometric technology is expected to witness robust growth in the coming years. Access control devices built on biometrics technology offer total access of all the system parameters to users, with functions such as advanced auto-alarming, anti-theft protection and anti-carjacking among others. The devices mostly use fingerprints for encoding security system of the vehicles. A few devices are able to store fingerprints of up to nine users. Biometrics based access control systems are also the most accurate and at the same-time user-friendly systems because they exclude the need for carrying keys. Entry can be gained in less time contrary to the traditional entry methods. The systems use algorithms to work and are therefore considered a key example of the use of artificial intelligence in vehicles. Furthermore, biometric-based vehicle access systems are becoming more and more affordable due to technological advancements in the area. This backdrop suggests opportunities for fingerprint scans on door handles, ensuring authorized entry into a vehicle. Chevrolet, for instance, announced an FNR self-driving concept featuring iris scan for authorized entry into vehicles. While the FNR is still deemed a future technology, iris scanning biometric technology is expected to be commercialized shortly. Ford recently secured patent approval for its novel biometric car access system also equipped with biometric sensors for keyless entry. The system utilizes fingerprints, retinal scans, and voice recognition for permitting access to the car and allows for programming and storing of physiological data of multiple drivers and vehicle users to enable easy car sharing.
There are currently dedicated companies developing automotive biometrics. These companies focus on different areas of the vehicle, including ignition switch, vehicular access, health monitoring, rationalization, and vehicle immobilizer among others. Integration of biometrics in automobiles makes the car models safer and more user-friendly providing a competitive edge to automakers. Biometric solutions therefore are here to stay for the automotive industry and the scope of applications for the technology would only increase in the years ahead. Already, quite a few car makers can be seen experimenting to see how the latest biometric solutions can be integrated into newer areas. Biometric access system in a car matches the different physiological and behavioral attributes for automating the access monitoring system. The technology could take any form including iris scan, fingerprint recognition, voice recognition or facial recognition. Primary focus is on the behavioral and physiological characteristics of an individual trying to gain access to a car or any component in a car, which differentiate the person from others. A biometric vehicle access systems works with high accuracy, which is one of its greatest advantages. It demands biological evidences from the individual trying to gain access, for ensuring utmost protection. The systems do not require passwords which also makes them less at risk of being stolen or getting hacked. Biometrics-based vehicle access controls systems are also easy-to-use. Requests are processed almost hassle-free provided the credentials match. All these benefits offered are anticipated to result in strong growth for the biometric vehicle access systems market in the years ahead. Continued technological advancements would also contribute to market growth. More
MarketGlass™ Platform Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.
Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android
About Global Industry Analysts, Inc. & StrategyR™ Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS: Zak Ali Director, Corporate Communications Global Industry Analysts, Inc. Phone: 1-408-528-9966 www.StrategyR.com Email: ZA@StrategyR.com
LINKS Join Our Expert Panel https://www.strategyr.com/Panelist.asp
Connect With Us on LinkedIn https://www.linkedin.com/company/global-industry-analysts-inc./
Follow Us on Twitter https://twitter.com/marketbytes
Journalists & Media Info411@strategyr.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/with-market-size-valued-at-13-8-billion-by-2026--its-a-healthy-outlook-for-the-global-vehicle-access-control-market-301568482.html
SOURCE Global Industry Analysts, Inc.
Yahoo Finance's Alexis Keenan explains a lawsuit levied against Tesla, SpaceX, and Elon Musk alleging dogecoin scheme.
Buffett swapped out Wells Fargo and Goldman Sachs for a beaten-down bank.
Maybe skip the fill-up in the Nordic region of the world…
Data shows new electric vehicle (EV) purchases jumped in Q1, and many industry watchers speculate that high gas prices are driving this behavior. A new study from Autolist, an online car shopping platform, shows that gas prices actually are not driving more EV consumer sentiment.
Companies will continue moving to the cloud, even in a recession. Oracle shares offer the cheapest way to play the trend.
From Sam Bankman-Fried to Mark Cuban, the biggest names in crypto highlight what’s next for the space. “People are watching and waiting to see if something else will topple,” Dexterity Capital’s Michael Safai says.
(Bloomberg) -- Most Read from BloombergPutin Gets Unexpected Pushback From Ally Over War in UkraineChina Says It May Have Detected Signals From Alien CivilizationsSergey Brin Seeks Divorce, Joining Gates and Bezos in SplitMusk, Tesla, SpaceX Are Sued for Alleged Dogecoin Pyramid SchemeMonkeypox Testing Shows the US Learned Little From the Covid-19 PandemicA shareholder dispute over one of the world’s biggest copper and cobalt mines is heating up in the Democratic Republic of Congo, after state m
When Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett speaks, Wall Street and investors wisely pay close attention. While riding Buffett's coattails has been a moneymaking strategy for decades, it's equally important to take note of the stocks that the world's most successful investor and his investing team are selling or avoiding. Thus far in 2022, Warren Buffett has overseen the aggressive selling of the following five stocks.
The popular decentralized stablecoin lost its dollar peg and fell to pennies in May. A South Korean blockchain analysis firm suggests the death spiral was sparked by transactions from a wallet linked to the lead Terra developer – though any motivation or rationale remains a mystery.
(Reuters) -A 650,000-barrel-cargo of Venezuela's oil chartered by Italy's Eni is about to set sail carrying the first export of crude from the U.S.-sanctioned country to Europe in two years, Refinitiv Eikon data showed on Friday. The U.S. State Department sent letters to Eni and Spain's Repsol in May authorizing them to resume taking Venezuelan crude as a way to settle billions of dollars of unpaid debt and dividends owed by the OPEC-member nation. A second tanker chartered by Eni, the very large crude carrier (VLCC) Pantanassa, is currently navigating towards Venezuela and expected to load 2 million barrels of the same grade, diluted crude oil (DCO), and take it to Europe, according to the Eikon data and a shipping document seen by Reuters.
Keith Johnson, a U.S. investor in the Dogecoin cryptocurrency, has filed a US$258 billion class-action lawsuit against Elon Musk and two of the companies he heads, alleging illegal behavior to manipulate the memecoin’s price. See related article: What is the real value of joke coins like Dogecoin and SHIB? Fast facts The lawsuit alleges: “Since […]
Exxon Mobil has gained as oil prices surged and Russia attacked Ukraine, but is XOM still a buy after Q1 earnings and softening oil prices?
Morning Consult Head of Industry Intelligence Joanna Piacenza joins Yahoo Finance Live to discuss the most trusted brands in the U.S. and how companies can build trust with consumers.
Being wouldn't say when it expects to certify the 737 Max 10, the largest variant of its bestselling 737 Max jet. The company could face costly delays without help from Congress.
Warren Buffett is one of the all-time greats when it comes to finding winning investments in challenging markets. Through recessions, periods of high inflation, wars, pandemics, and other tough market conditions, the Oracle of Omaha has guided his conglomerate Berkshire Hathaway -- and its impressive stock portfolio -- to market-crushing performances, and inspired generations of analysts and investors along the way. With a nod to Buffett's incredible track record, three Motley Fool contributors have singled out a few stocks in the Berkshire Hathaway portfolio that they think look like great buys in this wild market.
Natural gas markets tried to rally at the open on Friday but gave up the gain as it looks like natural gas is getting ready to roll over again.
There's increasing optimism in the energy industry that liquified natural gas production and exports will grow in the United States, although a recent industry conference also showed some concern that Appalachia won't be able to profit from the increase. LNG, after years of relative quiet in the United States, has suddenly become a much bigger issue. Not only have U.S. exports of LNG overseas increased dramatically over the past two years but also the energy crisis brought on by Russia's invasion of Ukraine has raised Europe's interest in LNG from the United States.
Costco’s hefty rotisserie chickens are the stuff of legend. They’re the professional wrestlers of the rotisserie chicken community, with crispy golden skin and some serious girth. They’re big boys. But now, a lawsuit claims that Costco is in violation of several livestock welfare laws by breeding chickens that “unnaturally” grow too fast. The boys... are simply too big.
Volkswagen AG's top U.S. executive said on Thursday the United States faces major challenges in ramping up battery production to facilitate a shift to electric vehicles including attracting skilled workers, mining for key metals and supply chain issues. Scott Keogh, chief executive of Volkswagen Group of America, told an Automotive News forum in Washington that the move to EVs is the single biggest "industrial transformation in America."
Purchase the VOOM Surf and Stream Voyage Package - 1 Device and enjoy 24-hour access to emails, internet, and messaging apps. It's generally good enough for emails and messaging apps, but streaming is very slow and not always possible (speeds can vary by ship, by your location on the ship, and by how many passengers are using the internet at any given time). Earlier this month, Royal Caribbean sent a letter to the Federal Communications Commission (FCC) asking for permission to bring Starlink to its ships. The cruise line's Group Vice President of Operational Excellence, John Maya, sent a letter to the federal agency to ask it to "expeditiously" approve a plan to use Starlink on Royal Caribbean ships.