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Automotive Digital Key Market

Automotive Digital Key Market Forecasts to 2028 – Global Analysis By Product (Smart Watch, Smart Key Fob), Technology (Remote, Passive), Application (Personal Use, Vehicle Security), and By Geography

4.8 (71 reviews)
Published: July 2021 ID: SMRC20764
4.8 (71 reviews)
Published: July 2021 ID: SMRC20764

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Automotive Digital Key Market is accounted for $2.16 billion in 2020 and is expected to reach $6.17 billion by 2028 growing at a CAGR of 14.0% during the forecast period. Factors such as increasing focus on vehicle safety features and rising demand for automation and electric vehicles are driving the growth of the market. However, possibility of cyber security issues is hampering the growth of the market.

Automotive digital keys provide advanced features over conventional keys such as enhanced driver safety features, connected automobiles, keyless entry, among others.

Based on the vehicle class, the passenger car (PC) segment is anticipated to expand at a rapid pace during the forecast period owing to the increase in per capita income, along with rapid industrialization. By geography, Asia Pacific is going to have high growth during the forecast period which can be attributed to the presence of developed countries that are home to advanced research and development facilities for digital key.

Some of the key players profiled in the Automotive Digital Key Market include Robert Bosch GmbH, Hyundai Mobis, Continental AG, Valeo SA, Mitsubishi Electric Corporation, Denso Corporation, HELLA GmbH & Co. KGaA, Samsung, STMicroelectronics, NXP Semiconductors, Heights Security, Inc, ALPHA Corporation, Silca, Minda Corporation, and Telefonaktiebolaget LM Ericsson.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 2.16 billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

14.0%

Predicted 2028 Value:

USD 6.17 billion

Forecast Years:

2021-2028

Tables, Graphs& Figures

311

Chapters Covered:

Product, Hardware, Component, Connectivity, Function, Vehicle Type, Vehicle Class, Technology, Application, Sales Channel and Region

Core Drivers and Opportunities:

  • Increasing focus on vehicle safety features
  • Rising demand for automation
  • Growing adoption of Internet of Things (IoT)

Restraining Factors & Market Threats:

  • Possibility of cyber security issues
  • Decreasing business possibilities due to COVID-19 pandemic


Products Covered:
• Smart Watch
• Smart Key Fob
• Key Card

Hardwares Covered:
• Wearables
• Remote Key Entry Devices
• Smartphones & Tablets   

Components Covered:
• Electronic Control Unit (ECU)
• Sensors
• Switches
• Other Components

Connectivity’s Covered:
• Bluetooth
• Wi-Fi
• Near Field Communication (NFC)
• Biometric
• Remote Cloud Key Access 

Functions Covered:
• Single-Function
• Multi-Function

Vehicle Types Covered:
• Electric (Hybrid Electric Vehicle (HEV))
• Non-Electric

Vehicle Classes Covered:
• Passenger Car (PC)
• Commercial Vehicle

Technologies Covered:
• Remote Keyless Entry System
• Passive Keyless Entry System

Applications Covered:
• Personal Use
• Car Sharing/Shared Mobility
• Car Rental
• Fleet Management
• Payment
• Vehicle Engine Start/Stop
• Charging
• Vehicle Security

Sales Channels Covered:
• Original Equipment Manufacturer (OEM's)
• Aftermarket

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Automotive Digital Key Market is majorly driven by increasing focus on vehicle safety features and rising demand for automation and electric vehicles.

The passenger car (PC) segment is growing at a highest CAGR owing to increase in per capita income, along with rapid industrialization.

North America dominated with a significant market share due to the factors such as high disposable income of people and early adoption of modern technologies.

Asia Pacific market is growing at a highest CAGR owing to the advanced researches being carried out in the region.

Key players in Automotive Digital Key Market include Robert Bosch GmbH, Hyundai Mobis, Continental AG, Valeo SA, Mitsubishi Electric Corporation, Denso Corporation, HELLA GmbH & Co. KGaA, Samsung, STMicroelectronics, NXP Semiconductors, Heights Security, Inc, ALPHA Corporation, Silca, Minda Corporation, and Telefonaktiebolaget LM Ericsson.

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