Vehicle Access Control Market is expected to generate a revenue of USD 18.66 Billion by 2028

The global Vehicle Access Control Market size was valued at USD 8.42 Billion in 2020 and is projected to reach USD 18.66 Billion by 2028, growing at a CAGR of 10.5% from 2021 to 2028.

Based on variables including occupation, time of day, and day of the week, the Car Access Control system permits the vehicle admission. Both biometric and non-biometric components make up the system. By allowing autonomous access to a car, this method did away with the need for human interaction to inspect the vehicle. It effectively regulates the vehicle's entrance and offers improved safety and security. It is frequently used for security purposes in the home and business sectors.

Due to rising customer demand, rising sales of electric vehicles, and rising car manufacturing, the market for vehicle access control is expanding rapidly. Another reason driving the market's expansion is the rise in vehicle theft incidents. The National Insurance Crime Bureau's statistics shows that there were 229,339 vehicle thefts in the US where the keys or fobs were left inside the vehicle (NICB). This number indicates a 56% rise in vehicle thefts involving keys over the 147.434 stolen vehicles.

Keyless car entry and more sophisticated ignition techniques, like facial recognition and fingerprint authorization, can significantly increase security and lower the loss per motor vehicle theft. As a result, the market for vehicle access control is expanding as a result of an increase in auto theft. In the past few years, false acceptance rate (FAR) and false rejection rate (FRR) of biometric access control systems using iris and fingerprint recognition and matching with faulty input have been greatly improved.

Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The "Global Vehicle Access Control Market" is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.