According to BlueWeave Consulting, the Global Vehicle
Access Control Market is expected to grow at a significant rate during the
forecast period. The Global Vehicle Access Control Market is projected to reach
the valuation of US$ 21,928 million by the year 2026 by growing at a CAGR of
11.6 % during the forecast period 2020- 2026. The market is growing owing to
various factors.
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The key driver of the market for vehicle access control systems
is the increase in demand for robust security and safety controls, which has
driven companies around the world to introduce innovative safety solutions
based on technology. The growing concern for vehicle safety, the rising
production of PCs and LCVs, and the increasing demand for electric vehicles
have led to a rise in the market. Premium car models would provide another
viable and competitive revenue stream for vehicle access based biometric
systems in the automotive industry in the future. Vehicles have become a
critical and vulnerable part of the day-to-day operations of any business, and
it has become essential to track and track the movement of cars in and out of
locations. Besides, rising crime rates are another factor that fuels the global
market for vehicle access control systems.
The implementation of advanced vehicle access control technologies,
such as keyless entry, monitoring, and fingerprint-enabled ignition switches,
to enhance driver experience is expected to drive market growth. However, the
high maintenance costs associated with these systems are expected to hinder the
market growth of Vehicle Access Control Market in the forthcoming years.
Integrating biometric access control systems into a vehicle may be a
challenging task for car companies, end-users may also find it challenging to
get to know the latest and creative vehicle access control systems, which may
also deter the growth of Vehicle Access Control Market.
Based on Type, the non-biometric system segment is projected to
be the largest and fastest-growing market since the system uses automotive
sensors, which are a robust and less costly technology. The demand for safety
features and reliability is expected to fuel the market, as the sensors used
for VAC are relatively simple and can be used in applications such as keyless
entry, making it easy for OEMs to incorporate such features in almost all
premium models.
The emergence of the cloud and the Internet of Things (IoT) has
had a huge impact on the entire security industry as a whole, and this
certainly involves the demand for access control. In the past, these technical
advances have opened up new possibilities for traditional access control
schemes, such as remote monitoring, less complex scales, and central reporting
/ management.
The rise in the instances of vehicle thefts all over are
compelling the consumers to install the vehicle access control systems. The
improved safety features provided by modern vehicle access control systems to
facilitate car owners to outfit their vehicles with these devices. Both in the
developing and developed countries, people are more concerns about the safety
and security of the vehicles, which is propelling the demand for vehicle access
control systems over the forecast period.
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The major market players in the Global Vehicle Access Control
are Denso Corporation, Valeo, Continental AG, Robert Bosch, Nuance Communication,
Automatic Systems, T3 Security Integration Pte Ltd., Securax Tech Solutions
Pvt. Ltd., Kambar Technologies, Nedap N.V., Avon Barrier Corporation Ltd,
Guangzhou COMA Electronics Co.Ltd., Nasatka Security, Vehicle Access Systems
Ltd., and other Prominent Players are expanding their presence in the market by
implementing various innovations and technologies.
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