Vehicle Access Control Market Size Hit USD 23.42 Billion at a CAGR of 10.3% in 2028

Increasing incidence of vehicle theft and growing awareness regarding vehicle safety & security are key factors driving market revenue growth

Market Size – USD 10.68 Billion in 2020, Market Growth – at a CAGR of 10.3%, Market Trends – Growing adoption of electric vehicles globally

The global vehicle access control market size is expected to reach USD 23.42 Billion in 2028 and register a revenue CAGR of 10.3% over the forecast period, according to the latest report by Reports and Data. Continuous technological advancements, and rising awareness regarding benefits of integrating vehicle access control systems are key factors driving market revenue growth. Vehicle access control systems reduce company's operating costs by eliminating security-related man-hours and freeing up resources for other duties. Vehicle access control is a reliable and efficient method of controlling vehicle entry based on the day of the week, time, and credentials; as a result, demand for the product is is expected rise over the forecast period. Vehicle access control systems are electronic systems designed to manage vehicle movement in a specific area. The crime rate linked with vehicle theft is increasing, and so is the demand for secure vehicle protection solutions. Changing lifestyles and rising preference for technologically advanced vehicles for personal and commercial use are factors resulting in increasing importance of automobiles in today's time. Various systems are integrated in vehicles in order to provide hassle-free vehicle management to users such as barriers, Closed-circuit Television (CCTV), License Plate Recognition (LPR)/ Automatic Number Plate Recognition (ANPR), Radio Frequency Identification (RFID) long-range readers, RFID controllers, smart cards, video management, and biometrics. Enrollment, mapping, as well as identification of vehicles, owners, drivers, and helpers are also made easier with use of vehicle access control systems. These systems also aid in optimization of space as well as installation of security.

Major companies profiled in the market report are Denso Corporation, Valeo, Continental AG, Robert Bosch GmbH, Nuance Communications, Synaptics, Fingerprint Cards AB, Voxx International, Lear Corporation, and Johnson Electric.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1503

Market Overview:

The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.

The Vehicle Access Control Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Vehicle Access Control Market.

Some Key Highlights From the Report

  • Non-biometric systems segment is expected to register significantly high revenue growth rate over the forecast period. Automotive sensors are used in vehicle access control systems, which are reliable and less expensive technology. Original Equipment Manufacturers (OEMs) can easily incorporate these systems into any premium model, as the system sensors are relatively basic and are utilized in applications such as keyless entry.
  • Passenger cars segment accounted for the largest revenue share in 2020. In developed countries, non-biometric systems are increasingly being used in passenger car models. growing consumer preference for SUVs, and also increased demand from fleet operators for vehicles with advanced user access features to prevent theft, are expected to drive revenue growth in the passenger car segment.
  • Radio frequency identification (RFID) segment is expected to register highest revenue CAGR during the forecast period, due to its inexpensive cost, ease of implementation in automobiles, and quick access permission for vehicle owners.
  • Tollways segment is expected to register a rapid revenue growth rate over the forecast period. Generally, vehicle access control systems have been widely used in tollways. These systems make use of RFID technology to allow vehicles access to tollways and highways. These technologies can assist with traffic management on a variety of congested toll roads.
  • Market in North America is expected to register a considerably high revenue growth rate in the global vehicle access control market over the forecast period, due to increasing number of criminal attacks, rising installation of these devices in tollways, and commercial & residential buildings in countries in the region. Another major factor driving revenue growth of the market in North America is increasing number of technological advancements of these systems utilized to prevent unauthorized entry. These technological developments make the system faultless, perfect, and simple to use. Market revenue growth is also expected to be driven by increasing production and sales of Electric Vehicles (EV) and demand for Light Commercial Vehicles (LCVs) in countries in the region.

To understand how our Vehicle Access Control Market can bring difference to your business strategy:- https://www.reportsanddata.com/report-detail/vehicle-access-control-market

For the purpose of this report, Reports and Data has segmented the global vehicle access control market based on system type, vehicle type, electric vehicle, technology, application, and region:

System Type Outlook (Revenue, USD Billion; 2018-2028)

  • Biometric Systems
  • Face Recognition System
  • Fingerprint Recognition System
  • Iris Recognition System
  • Voice Recognition System
  • Non-Biometric Systems
  • Keyless Entry
  • Alarm
  • Electronic Immobilizer
  • Steering Wheel Lock
  • Stolen Vehicle Assist
  • Others

Vehicle Type Outlook (Revenue, USD Billion; 2018-2028)

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial vehicles

Electric Vehicle Outlook (Revenue, USD Billion; 2018-2028)

  • Battery Electric Vehicle (BEV)
  • Hybrid Electric Vehicle (HEV)
  • Plug-In Hybrid Electric Vehicle (PHEV)
  • Fuel Cell Electric Vehicle (FCEV)

Technology Outlook (Revenue, USD Billion; 2018-2028)

  • Near Field Communication (NFC)
  • Bluetooth
  • Radio Frequency Identification (RFID)
  • Wi-Fi

Application Outlook (Revenue, USD Billion; 2018-2028)

  • Traffic Management
  • Sensitive sites / Facilities / Zone
  • Tollways
  • Commercial Buildings
  • Residential Buildings
  • Others

Regional Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Israel
    • Rest of MEA

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/1503

Key Advantages of Vehicle Access Control Report:

  • Identification and analysis of the market size and competition
  • Qualitative and quantitative analysis of the market data
  • Data validated by industry experts after extensive primary and secondary research
  • Extensive regional analysis of the Vehicle Access Control industry
  • Profiling of key players along with their business overview,  business strategies, deals and partnerships, and product portfolio
  • SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
  • Feasibility analysis and investment analysis to enable strategic investment decisions
  • Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Vehicle Access Control Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:

John W
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Reports and Data | Web: www.reportsanddata.com
Check our upcoming research reports @ https://www.reportsanddata.com/upcoming-reports
Visit our blog for more industry updates @ https://www.reportsanddata.com/blogs

Browse More Reports:

 

 

 

Comments

Post a Comment