Biometrics will create ‘new business models’
Partnerships between car makers and technology partners will create incredible opportunities for growth as wearable devices become ever-more popular.
According to a report by Frost & Sullivan entitled The Biometrics in the Global Automotive Industry, 2016–2025, one in three new cars will feature fingerprint recognition, iris recognition, voice recognition, gesture recognition, heart beat monitoring, brain wave monitoring, stress detection, fatigue monitoring, eyelid monitoring, facial monitoring, and pulse detection by 2025.
These will be driven by built-in, brought-in and cloud enabled technologies, and major automotive original equipment manufacturers (OEMs) and Tier 1 suppliers must stay abreast of technologies, business models, and regulations shaping this dynamic space.
Frost & Sullivan Intelligent Mobility Industry analyst Joe Praveen Vijayakumar said, ‘Partnerships between automotive OEMs and wearable companies will result in faster penetration of biometrics within the automotive industry , allowing OEM’s to save on biometrics related R&D expenditure, while creating growth avenues for wearables companies. New business models such as device as a service and health as a service will also emerge.
‘Urbanisation will continue to fuel emphasis on biometrics-driven advanced driver assistance system (ADAS) features to navigate heavy traffic while ensuring, safety and comfort. However, customer concerns surrounding the safety of the sensitive data collected through biometrics will compel suppliers to also invest in cybersecurity measures to build credibility and increase growth.’