Allied Market Research

2024

Automotive Smart Key Market

Automotive Smart Key Market Size, Share, Competitive Landscape and Trend Analysis Report by Application (Single Function, Multi-function), by Technology (Remote Keyless Entry, Passive Keyless Entry) and by Installation (OEM, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2023-2032

Select an option
Author's: | Lalit Janardhan Katare
Publish Date:

Get Sample to Email

Automotive Smart Key Market Outlook 2027 -

The automotive smart key is computerized to lock or unlock the vehicle without using the conventional key and pressing the buttons on the remote or any smart key. The critical features of automotive vehicle safety & security are to enable the ignition of the engine, control of windows, mirrors, radio pre-sets, moon roof, and seat adjustment. Therefore, automotive smart key became the backbone of vehicle model design, owning to a shift in people's lifestyles toward luxurious vehicles. Furthermore, rise in demand for a luxury vehicle at low cost is projected to drive the automotive smart keys market.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast unit

  Value (USD)

  Segments covered

  Application, Technology, and Installation

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

Denso Corporation, Valeo, TRW Automotive, Continental AG, HELLA KGaA Hueck & Co., Hyundai Mobis, Visteon Corporation, Silca S.p.A., Continental Automotive GmbH, Toyota Motor Corporation, and ALPHA Corporation

COVID-19 scenario analysis:

  • The global economy is highly dependent on the automotive industry along with many other industries such as steel, chemicals, and textile. However, as they are shut down due to pandemic, it has tremendously affected the automobile industry.
  • The global automobile sector has faced the most challenges during the COVID-19 pandemic as their production houses are shut, their inventories are overflowing, and the demand has subsided.
  • The automobile company may enter the recession period after the supply chain gets destroyed in many countries and production houses have overflowing inventories.
  • The COVID-19 pandemic has forced the automotive industry to re-think its business.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Increase in technological advancement for vehicle safety & security and the introduction of hybrid vehicles & electric vehicles are expected to drive the growth of the global automotive smart key market. Moreover, high cost acts as a major barrier and is projected to hinder the growth of the global market. Furthermore, increase in data security & safety can provide new opportunities for the global market.

The automotive smart key market trends are as follows:

Increasing technological advancement for vehicle’s safety & security

Advanced Driving Assistance Systems (ADAS) are used to increase the technological advancement in automotive technology. For synchronization of this technology, a remotely operated technology is required to control the vehicle’s necessary functions via wireless.

Introduction of hybrid vehicles and electric vehicles

Various types of vehicles have been introduced in the market in the past few years, such as hybrid vehicles and electric vehicles, which are equipped with advanced safety & security features. Therefore, they are also projected to fuel the demand for automotive smart keys.

Key segments covered:

Segments

Sub-segments

  Application

  • Single Function
  • Multi-function

  Technology

  • Remote Keyless Entry
  • Passive Keyless Entry

  Installation

  • OEM
  • Aftermarket

Key benefits of the report:

  • This study presents the analytical depiction of the automotive smart key market along with current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the automotive smart key market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the automotive smart key market research report:

  • Which are the leading market players active in the automotive smart key market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?

Automotive Smart Key Market Report Highlights

Aspects Details
Automotive Smart Key Market By Application
By Application
  • Single Function
  • Multi-function
Automotive Smart Key Market By Technology
By Technology
  • Remote Keyless Entry
  • Passive Keyless Entry
Automotive Smart Key Market By Installation
By Installation
  • OEM
  • Aftermarket
Automotive Smart Key Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players
Key Market Players

Denso Corporation, Continental AG, Toyota Motor Corporation, Valeo, Silca S.p.A., HELLA KGaA Hueck & Co., Visteon Corporation, TRW Automotive, ALPHA Corporation, Continental Automotive GmbH, Hyundai Mobis

Loading Table Of Content...

Individual sections of the reports are available for purchase.
Would you like to see a breakdown of prices by section?

Automotive Smart Key Market

Global Opportunity Analysis and Industry Forecast, 2023-2032