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
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.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 2.16 billion |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
14.0% |
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Predicted 2028 Value: |
USD 6.17 billion |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
311 |
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Chapters Covered: |
Product, Hardware, Component, Connectivity, Function, Vehicle Type, Vehicle Class, Technology, Application, Sales Channel and Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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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.
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automotive Digital Key Market, By Product
5.1 Introduction
5.2 Smart Watch
5.3 Smart Key Fob
5.4 Key Card
6 Global Automotive Digital Key Market, By Hardware
6.1 Introduction
6.2 Wearables
6.3 Remote Key Entry Devices
6.4 Smartphones & Tablets
7 Global Automotive Digital Key Market, By Component
7.1 Introduction
7.2 Electronic Control Unit (ECU)
7.3 Sensors
7.4 Switches
7.5 Other Components
8 Global Automotive Digital Key Market, By Connectivity
8.1 Introduction
8.2 Bluetooth
8.3 Wi-Fi
8.4 Near Field Communication (NFC)
8.5 Biometric
8.6 Remote Cloud Key Access
9 Global Automotive Digital Key Market, By Function
9.1 Introduction
9.2 Single-Function
9.3 Multi-Function
10 Global Automotive Digital Key Market, By Vehicle Type
10.1 Introduction
10.2 Electric (Hybrid Electric Vehicle (HEV))
10.3 Non-Electric
11 Global Automotive Digital Key Market, By Vehicle Class
11.1 Introduction
11.2 Passenger Car (PC)
11.2.1 Sport Utility Vehicle (SUV)
11.2.2 Compact
11.2.3 Midsize
11.2.4 Luxury
11.3 Commercial Vehicle
11.3.1 Light Commercial Vehicle (LCV)
11.3.2 Heavy Commercial Vehicle (HCV)
12 Global Automotive Digital Key Market, By Technology
12.1 Introduction
12.2 Remote Keyless Entry System
12.3 Passive Keyless Entry System
13 Global Automotive Digital Key Market, By Application
13.1 Introduction
13.2 Personal Use
13.3 Car Sharing/Shared Mobility
13.4 Car Rental
13.5 Fleet Management
13.6 Payment
13.7 Vehicle Engine Start/Stop
13.8 Charging
13.9 Vehicle Security
14 Global Automotive Digital Key Market, By Sales Channel
14.1 Introduction
14.2 Original Equipment Manufacturer (OEM's)
14.3 Aftermarket
15 Global Automotive Digital Key Market, By Geography
15.1 Introduction
15.2 North America
15.2.1 US
15.2.2 Canada
15.2.3 Mexico
15.3 Europe
15.3.1 Germany
15.3.2 UK
15.3.3 Italy
15.3.4 France
15.3.5 Spain
15.3.6 Rest of Europe
15.4 Asia Pacific
15.4.1 Japan
15.4.2 China
15.4.3 India
15.4.4 Australia
15.4.5 New Zealand
15.4.6 South Korea
15.4.7 Rest of Asia Pacific
15.5 South America
15.5.1 Argentina
15.5.2 Brazil
15.5.3 Chile
15.5.4 Rest of South America
15.6 Middle East & Africa
15.6.1 Saudi Arabia
15.6.2 UAE
15.6.3 Qatar
15.6.4 South Africa
15.6.5 Rest of Middle East & Africa
16 Key Developments
16.1 Agreements, Partnerships, Collaborations and Joint Ventures
16.2 Acquisitions & Mergers
16.3 New Product Launch
16.4 Expansions
16.5 Other Key Strategies
17 Company Profiling
17.1 Robert Bosch GmbH
17.2 Hyundai Mobis
17.3 Continental AG
17.4 Valeo SA
17.5 Mitsubishi Electric Corporation
17.6 Denso Corporation
17.7 HELLA GmbH & Co. KGaA
17.8 Samsung
17.9 STMicroelectronics
17.10 NXP Semiconductors
17.11 Heights Security, Inc
17.12 ALPHA Corporation
17.13 Silca
17.14 Minda Corporation
17.15 Telefonaktiebolaget LM Ericsson
List of Tables
1 Global Automotive Digital Key Market Outlook, By Region (2019-2028) ($MN)
2 Global Automotive Digital Key Market Outlook, By Product (2019-2028) ($MN)
3 Global Automotive Digital Key Market Outlook, By Smart Watch (2019-2028) ($MN)
4 Global Automotive Digital Key Market Outlook, By Smart Key Fob (2019-2028) ($MN)
5 Global Automotive Digital Key Market Outlook, By Key Card (2019-2028) ($MN)
6 Global Automotive Digital Key Market Outlook, By Hardware (2019-2028) ($MN)
7 Global Automotive Digital Key Market Outlook, By Wearables (2019-2028) ($MN)
8 Global Automotive Digital Key Market Outlook, By Remote Key Entry Devices (2019-2028) ($MN)
9 Global Automotive Digital Key Market Outlook, By Smartphones & Tablets (2019-2028) ($MN)
10 Global Automotive Digital Key Market Outlook, By Component (2019-2028) ($MN)
11 Global Automotive Digital Key Market Outlook, By Electronic Control Unit (ECU) (2019-2028) ($MN)
12 Global Automotive Digital Key Market Outlook, By Sensors (2019-2028) ($MN)
13 Global Automotive Digital Key Market Outlook, By Switches (2019-2028) ($MN)
14 Global Automotive Digital Key Market Outlook, By Other Components (2019-2028) ($MN)
15 Global Automotive Digital Key Market Outlook, By Connectivity (2019-2028) ($MN)
16 Global Automotive Digital Key Market Outlook, By Bluetooth (2019-2028) ($MN)
17 Global Automotive Digital Key Market Outlook, By Wi-Fi (2019-2028) ($MN)
18 Global Automotive Digital Key Market Outlook, By Near Field Communication (NFC) (2019-2028) ($MN)
19 Global Automotive Digital Key Market Outlook, By Biometric (2019-2028) ($MN)
20 Global Automotive Digital Key Market Outlook, By Remote Cloud Key Access (2019-2028) ($MN)
21 Global Automotive Digital Key Market Outlook, By Function (2019-2028) ($MN)
22 Global Automotive Digital Key Market Outlook, By Single-Function (2019-2028) ($MN)
23 Global Automotive Digital Key Market Outlook, By Multi-Function (2019-2028) ($MN)
24 Global Automotive Digital Key Market Outlook, By Vehicle Type (2019-2028) ($MN)
25 Global Automotive Digital Key Market Outlook, By Electric (Hybrid Electric Vehicle (HEV)) (2019-2028) ($MN)
26 Global Automotive Digital Key Market Outlook, By Non-Electric (2019-2028) ($MN)
27 Global Automotive Digital Key Market Outlook, By Vehicle Class (2019-2028) ($MN)
28 Global Automotive Digital Key Market Outlook, By Passenger Car (PC) (2019-2028) ($MN)
29 Global Automotive Digital Key Market Outlook, By Sport Utility Vehicle (SUV) (2019-2028) ($MN)
30 Global Automotive Digital Key Market Outlook, By Compact (2019-2028) ($MN)
31 Global Automotive Digital Key Market Outlook, By Midsize (2019-2028) ($MN)
32 Global Automotive Digital Key Market Outlook, By Luxury (2019-2028) ($MN)
33 Global Automotive Digital Key Market Outlook, By Commercial Vehicle (2019-2028) ($MN)
34 Global Automotive Digital Key Market Outlook, By Light Commercial Vehicle (LCV) (2019-2028) ($MN)
35 Global Automotive Digital Key Market Outlook, By Heavy Commercial Vehicle (HCV) (2019-2028) ($MN)
36 Global Automotive Digital Key Market Outlook, By Technology (2019-2028) ($MN)
37 Global Automotive Digital Key Market Outlook, By Remote Keyless Entry System (2019-2028) ($MN)
38 Global Automotive Digital Key Market Outlook, By Passive Keyless Entry System (2019-2028) ($MN)
39 Global Automotive Digital Key Market Outlook, By Application (2019-2028) ($MN)
40 Global Automotive Digital Key Market Outlook, By Personal Use (2019-2028) ($MN)
41 Global Automotive Digital Key Market Outlook, By Car Sharing/Shared Mobility (2019-2028) ($MN)
42 Global Automotive Digital Key Market Outlook, By Car Rental (2019-2028) ($MN)
43 Global Automotive Digital Key Market Outlook, By Fleet Management (2019-2028) ($MN)
44 Global Automotive Digital Key Market Outlook, By Payment (2019-2028) ($MN)
45 Global Automotive Digital Key Market Outlook, By Vehicle Engine Start/Stop (2019-2028) ($MN)
46 Global Automotive Digital Key Market Outlook, By Charging (2019-2028) ($MN)
47 Global Automotive Digital Key Market Outlook, By Vehicle Security (2019-2028) ($MN)
48 Global Automotive Digital Key Market Outlook, By Sales Channel (2019-2028) ($MN)
49 Global Automotive Digital Key Market Outlook, By Original Equipment Manufacturer (OEM's) (2019-2028) ($MN)
50 Global Automotive Digital Key Market Outlook, By Aftermarket (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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