Vehicle Access Control Market Share & Growth | Forecast 2031

Report Description

The global vehicle access control market size was valued at USD 9.62 billion in 2021, is projected to reach USD 12.47 billion by 2030 and expanding at a CAGR of 6.7% during the forecast period, 2021–2030. The growth of the market is attributed to the rising incidence of vehicle thefts across developed and emerging economies.

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Vehicle access control is a system that allows a vehicle to enter a building depending on entrance requirements such as day, time, and occupation. Vehicle access control reduces the need for human participation in vehicle inspection and allows for automatic vehicle access. A vehicle access control system is a collection of technologies that allows a vehicle's owner to get entry without using traditional keys.

The vehicle access control system oversees and regulates which vehicles and when they enter the premises. This technology has simply enabled the function of automatic vehicle access, removing the need for human interaction in physically inspecting cars. The vehicle access control system allows permitted entry to vehicles through barriers, doors, gates, and shutters.

The COVID-19 pandemic affected the automotive industry due to the plant closure, global demand shock, and disruption of supply chain. Automotive companies are expected to keep operations afloat and leaving R&D funding for advanced technology efforts.  Strategic choices to abandon unproductive global markets and vehicle categories is projected to hastened, as production capacity is streamlined and integrated.

Market Trends, Drivers, Restraints, and Opportunities 

• Rising focus on improving the safety protocols for general public coupled with rising smart city projects are expected to drive the market.
• Increasing investments in the automotive industry is projected to propel the market during the forecast period.
• Lack of technological expertise in the developing and underdeveloped country is anticipated to hinder the market.
• High cost associated technological innovations is expected to hamper the market in the coming years.
• Growing penetration of artificial intelligence, internet of things, and connected devices is projected to create lucrative opportunities for market players. 

Scope of Vehicle Access Control Market Report

The report on the global vehicle access control market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Vehicle Access Control Market Segment Insights

On the basis of technology, the vehicle access control market is segmented into NFC, RFID, bluetooth, and others. The RFID segment is projected to expand at a considerable CAGR during the forecast period, due to its low cost, relatively easier deployment in vehicles and quick access authorization for vehicle owners.

The NFC segment is anticipated to account for a major market share during the forecast period. The low cost of NFC technology has enabled manufacturers to introduce NFC-enabled smartphone or card-based access for mainstream vehicles. Relay assaults aren't possible with NFC because of its restricted operational range. These assaults occur when hackers convince the car that the owner's mobile device is within range.

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Based on types, the market is divided into non-biometric systems and biometric systems. The biometric systems segment is expected to hold a significant share of the market in the coming years, due to the advancement of in-vehicle facial recognition software and increased adoption of fingerprint authorization among vehicle manufacturer. The non-biometric systems segment accounts for a significant market share, owing to increasing demand for cost-effective solutions such as audible alarm systems and steering column collars.

On the basis of vehicle types, the market is segregated into passenger car and commercial vehicle. The passenger car segment is anticipated to expand at a substantial CAGR during the forecast period, owing to increasing application of non-biometric systems in all basic models in developed countries. The commercial vehicle segment is expected to hold a significant share of the market, due to increasing consumer preference towards sports utility vehicles.

In terms of regions, the vehicle access control market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the forecast period, owing to increasing demand for advanced security features such as electronic immobilizers and keyless entry. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to rising vehicle production, surging demand for high-end automobiles, and greater awareness regarding the security benefits of vehicle access control solutions.

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