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.
Estimated Market Size in 2020:
USD 2.16 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 6.17 billion
Tables, Graphs& Figures
Product, Hardware, Component, Connectivity, Function, Vehicle Type, Vehicle Class, Technology, Application, Sales Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Smart Watch
• Smart Key Fob
• Key Card
• Remote Key Entry Devices
• Smartphones & Tablets
• Electronic Control Unit (ECU)
• Other Components
• Near Field Communication (NFC)
• Remote Cloud Key Access
Vehicle Types Covered:
• Electric (Hybrid Electric Vehicle (HEV))
Vehicle Classes Covered:
• Passenger Car (PC)
• Commercial Vehicle
• Remote Keyless Entry System
• Passive Keyless Entry System
• Personal Use
• Car Sharing/Shared Mobility
• Car Rental
• Fleet Management
• Vehicle Engine Start/Stop
• Vehicle Security
Sales Channels Covered:
• Original Equipment Manufacturer (OEM's)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
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.
Select License Type
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.