Automotive Smart Key Market 2021 Global Insights and Business Scenario – Alpha Corp., Minda Corp. Ltd, Denso Corporation, Continental AG

The report presents an in-depth assessment of the Automotive Smart Key Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Automotive Smart Key investments from 2021 till 2025.

Automotive Smart Key market is growing at a CAGR of 7% during the forecast period (2021-2025).

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The Automotive Smart Key market is highly competitive and consists of a number of major players. Top Companies like Alpha Corp., Minda Corp. Ltd, Denso Corporation, Continental AG, Huf Hulsbeck & Furst GmbH & Co. KG, Honda Lock Mfg Co. Ltd, ZF Friedrichshafen AG, Valeo SA, HELLA GmbH & Co. KGaA, Tokai Rika Co. Ltd, Silicon Laboratories Inc.

Scope of the Report

– Advancements in terms of automotive technology, as well as increasing vehicle thefts are likely to propel the development of smart keys, thus, leading to a growth in the market in the coming years.

– The usage of lightweight and eco-friendly materials for the manufacturing of the inside chip and buttons for smart keys is gaining traction, thus, leading to various car manufacturers, such as BMW, Volkswagen, and Mercedes-Benz developing compact and attractive smart keys. Thus, the usage of lightweight materials for developing the components of a smart key shall provide growth opportunities for the market in the years to come.

Key Market Trends

The Other Technology Segment Projected to Grow at a High Pace

Majority of the other technologies are based on passive keyless entry (PKE) technology, where the PKE device operates while stored in the user’s pocket or bag, unlike a standard remote keyless entry (RKE) device, which requires the user to hold the device and push a button to lock or unlock the vehicle. Auto companies, such as Leap Motor, have introduced biological entry system with the launch of their smart electric coupe S01 model in China, in January 2019. These vehicles will be equipped with a Leap In biological lock/unlock system that integrates finger vein recognition and face recognition technologies, thus, giving the customers a keyless experience from entering the vehicle to starting the engine.

Asia-Pacific is expected to Witness the Highest Growth

In the automotive smart key market, the growth of the Asia-Pacific region is expected to be more during the forecast period. China is one of the biggest automotive markets in the world. In 2018, the volumes of production and sales of vehicles were lower than expected at the beginning of the year, due to political factors and microeconomics. However, new energy vehicle (NEV) sales continued to rise rapidly, while exports also showed fast growth. The demand for smart keys in the Chinese, as well as the Indian market, is growing rapidly, as various Chinese and Indian companies are launching vehicles with keyless entry features, which shall lead to a growth of the automotive smart key market in China and India.

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What are the market factors that are explained in the report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Analytical Tools: Automotive Smart Key Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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