The automotive biometrics market will reach a value of $969 million by 2023, according to a new report from Goode Intelligence. Entitled, “Biometrics for the Connected Car; Automotive Biometrics Market Analysis & Forecasts 2018-2023”, the report asserts that this value will reflect a CAGR of 96 percent over the forecast period.
In a statement announcing the report, Goode Intelligence CEO and Chief Analyst Alan Goode explained that while biometric adoption in the auto sector is currently low, that’s set to change as “cars evolve into smartphones on wheels”. Goode suggests that car makers are wary of emerging threats from more tech-focused companies like Tesla and even Apple and Google, and that digital identity is thus becoming “a key battleground for this market”, with biometrics “fast becoming the easiest way for people to prove their identity” across a range of applications.
And while the identification of drivers “has become a crucial function in the development of next-generation personal transportation systems,” biometric technology also serves other uses such as helping to track the wellness of drivers and passengers, Goode added.
The predictions appear to be in line with a Technavio forecast from earlier this year, which pointed to a more modest forecast of 19 percent CAGR for the automotive biometrics market between 2017 and 2021; Goode’s forecast predicts that the market will see a particular ramp-up starting in 2021. And the report arrives amid a growing convergence between the IT and automotive sectors, which may be an important first stage on the road to biometric smart cars.