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Global Automotive End-Point Authentication Market: Players Keen on Adhering to Safety Standards to Spell Growth
Global Automotive End-Point Authentication Market: Players Keen on Adhering to
Safety Standards to Spell Growth
The global market for automotive endpoint authentication is anticipated to witness
a healthy growth over the coming years. According to Transparency Market
Research (TMR), the vendor landscape fragmented with few market participants.
The industry is monopolized by established vendors which makes it tough for new
market participants to gain a foothold. Also, the costs involved with setting up
production plants in this industry are quite high and tend to deter medium- and
small-sized enterprises. Some of the key vendors participating in the global endpoint authentication market are Synaptics Incorporated, Symantec Corporation,
Garmin Ltd., Sonavation, Inc., and Fujitsu Ltd.
Our report predicts that the global automotive end-point authentication
market will grow at healthy CAGR of 8.6% over the forecast period of 2017 to
2025. The market, which stood at an estimated valuation of US$0.504 mn in 2017
is expected to touch US$1.115 mn by the end of the forecast period.
HVs and EVs to Emerge Popular Market Segments
The overall automotive end-point authentication market comprises of
conventional and electric & hybrid vehicles based on the vehicle type. Our report
mentions that while the conventional vehicle segment has held almost half of the
overall market revenue till date, the segment of HVs and EVs is expected to gain
prominence. Over the coming years, electric and hybrid vehicles segment is set to
experience a surge in growth rate due to their growing popularity and utilization.
Being eco-friendly and fuel efficient they will see their sales soar further.
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Considering geographical segmentation, Europe generated the most revenue with
a whopping thirty percent share of the overall market. While based on growth
rate, the Asia Pacific is foretold to see immense growth opportunities. This is
attributed to the perpetually increasing demand of passenger vehicles in growing
economies like China and India.
Regulatory Standards to Create Ample Market Opportunity
Significantly propelling the market is the stringent regulatory requirements globally
that are compelling automobile manufacturers to develop vehicles having
improved safety and security features, leveraging end-point authentication as a
major technology. Besides, automotive end-point authentication technology aids in
stemming thefts and damages to vehicles. This is also expected to catalyze growth
in the market.
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An important growth driver in the global automotive end-point authentication
market is the stringent regulatory requirements in different parts of the world.
Global standards such as Federal Motor Vehicle Standards, National Highway
Traffic Safety Administration (NHTSA), and Euro standards are egging vehicle
manufacturers to produce vehicles having enhanced safety and security features.
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