Vehicle Access Control Market

Vehicle Access Control Market Size (2023-2028):

The Global Vehicle Access Control Market was worth US$ 12.96 billion in 2022 and is anticipated to reach a valuation of US$ 23.09 billion by 2028 and is predicted to register a CAGR of 10.37% during 2023-2028.

Vehicle access control is created to cater to the requirements of those facilities that are generally utilized as parking bays. A few of the commercial places where automobile owners demand secure and strict regulations are corporate offices, IT parks, special economic zones (SEZs), public sector undertakings (PSUs), universities, and government firms, among others.

Market  Drivers:

The vehicle access control system saves the high working costs of an organization, as it removes the working hours utilized for safety and frees the resources for other undertakings. The increase in the number of automobiles and traffic has substantially increased the usage of automatic systems to detect and evaluate a vehicle quickly, which is projected to drive the vehicle access control market. Increasing demand for premises safety among customers is driving this market. The rising threat of security breaches, theft, and crimes further triggers the global vehicle access control market.

Market Restraints:

There exist some limitations that are hampering the implementation of these systems. First, while incorporating access control systems based on biometrics in a vehicle can be a challenging undertaking for vehicle organizations, end users can also find it difficult to get used to with latest and innovative vehicle access control systems. Second, the price incurred in repairing these systems is also very much.

Market Recent Developments:

• With the Valeo Inblue® System, drivers can virtually share the key to their automobile via mobile phone and lock, unlock and start the vehicle, as well as control applications and access certain vehicle information remotely. Developed in collaboration with CAPGEMINI, the app "Inblue Mobility Solution" is the concrete and unequalled response for vehicle sharing, destined for firm fleets and vehicle rental organizations.
• VOXXHirschmann removes the requirement for vehicle Keys with the Introduction of Groundbreaking eFob mobile Phone-Based Bluetooth Technology for the Automotive Market. 
• VOXX Automotive Forms Strategic Collaboration with UniKey. Partnership to Bring Easier, Smarter, More Secure Phone-as-a-Key abilities to Global Automakers, Fleet Operators, and Customers.

VEHICLE ACCESS CONTROL MARKET REPORT COVERAGE:

Market Segmentation:

Vehicle Access Control Market - By Type:

• Biometric System 
• Non-Biometric System 

Vehicle Access Control Market - By Biometric System: 

• Face Recognition 
• Fingerprint Recognition 
• Iris Recognition 
• Voice Recognition

The biometric sector is projected to emerge as a rapidly growing sector over the foreseen period. The fast growth can be attributed to the rising usage of biometrics-based access control systems in vehicles. Biometric systems can baffle vehicle theft efforts and ensure easy access to the owner of the car. Biometric systems can also be configured to provide a personalized experience to consumers, thereby contributing to their popularity. Thus, the use of biometrics-based vehicle access control systems, particularly in premium vehicles, is predicted to grow over the outlook period.

Vehicle Access Control Market - By Non-Biometric System:

• Keyless entry 
• Alarm 
• Immobilizer 
• Steering wheel lock 
• Stolen Vehicle Assist 
• Others (Tire Lock, Gear Lock, and Hood Lock)

The non-biometric system is projected to be the biggest and the rapidly growing market. The system utilizes automotive sensors that are reliable and low-cost technology. These sensors are comparatively simple and used in applications such as keyless entry, permitting OEMs to use such features in almost all premium models, quickly. This trend for safety features with dependability is projected to trigger the market.

Vehicle Access Control Market - By Technology:

• Bluetooth 
• NFC 
• RFID 
• Wi-Fi 

Vehicle Access Control Market - By Vehicle Type:

• PC 
• LCV 
• HCV 

The light commercial vehicle is projected to be the rapidly growing market during the projection time. Safety features such as alarms, immobilizers, and central locking are now added as standard attributes by OEMs in developed nations. Furthermore, a shift in customer preference is boosting vehicle access control market growth. Moreover, the sales of LCV are continuously increasing in many countries, which will trigger demand.

Vehicle Access Control Market - By Electric Vehicle:

• BEV 
• HEV 
• PHEV 
• FCEV 

The PHEV segment is predicted to account for the protruding portion of the global market in the next few years.

Market Reginal Analysis:

The Global Vehicle Access Control Market Report includes the segmentation of regions:

• North America - U.S., Canada
• Europe - Norway, Germany, Sweden
• Asia Pacific - China, India, Japan
• Latin America - Brazil, Mexico, Argentina
• Middle East and Africa - Middle East, Africa

North American vehicle access control market accounted for the largest share of this global business in 2018 with an economic share of more than 30%. North America has been witnessing a surge in sales of premium automobiles, which feature built-in advanced access control systems. Furthermore, automakers in this area are also progressively implementing the latest and innovative vehicle access control systems. Vehicle access control systems are also utilized extensively on tollways across North America to manage the traffic on highways effectively.

Europe is anticipated to hold a significant share of this global market, as these technologies are first used in developed revenues and gradually maximize penetration in developing ones. Asia Pacific is projected to emerge as the rapidly-increasing regional market accounting for a CAGR of over 12% over the gauge time frame. Automotive organizations are spending more on research and development to lower deployment prices so that these systems are no longer reduced only to high-end vehicles. They can also be installed in low-end and mid-end cars. Low-end and mid-end automobiles are particularly popular in the developing revenues of Asia Pacific. Thus, manufacturers in this area are stressing installing access control systems in such cars without increasing the costs of these vehicles beyond a specific limit.

Market Key Players:

1. Johnson Electric
2. Valeo
3. Synaptics Incorporate
4. Voxx International
5. Denso Corporation
6. Robert Bosch
7. Methode Electronics
8. Mitsubishi Electronic
9. Fingerprint Cards Ab
10. Continental AG