Description
Automotive Digital Key Market Outlook 2030
Automotive digitization is on the horizon. The industry is experiencing significant changes. Manufacturers are developing automotive digital keys to offer more advanced features than traditional keys. These include enhanced driver safety features and connect cars. The popularity of smart keys for vehicles has increased dramatically over the past decade due to their safety features. Companies such as Honda are creating smart keys for low-cost cars, including features like high-end luxury cars. Using lightweight, environmentally friendly materials to create internal chips and buttons for smart keys is growing in popularity. A University of Leuven research report found that a car’s digital keys can be easily hacked and unlocked by using loopholes in its security system. Researchers bypassed the keyless entry system for a Tesla Model Son 28 August 2019. Leap Motor launched its S01 smart electric coupe in China in January 2019 with a biological entry system. The vehicles come with the Leap lock/unlock system, which integrates finger vein recognition and faces recognition technologies. Customers can then enter cars without keys, as well as start engines.
Major automotive digital keys market players still focus on crucial cards, intelligent vital fobs, and wearable smart keys or smartwatches with RFID technology. Centurion key, for example, has developed a wearable key/smartwatch. It can be used to enter vehicles and perform other functions such as the engine start/stop, or door lock/unlock.
Market scope and structure analysis:
| Report Metric | Details |
| Market size available for year | 2030 |
| Base year considered | 2021 |
| Forecast year | 2030 |
| Forecast units | Value (USD) |
| Segments covered | Application, Technology, Key Type, Vehicle Type, and Region |
| Regions covered | North America (U.S., Canada and Mexico), Europe (Germany, U.K, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa) |
| Companies covered | Infineon Technologies AG, Telefonaktiebolaget LM Ericsson, Continental AG, Denso Corporation, Tokai Rika Co. Ltd., ALPHA Corporation, NXP Semiconductors, Garmin Ltd., FASTECH, LLC., GARIN System Co., Ltd., and STMicroelectronics |
COVID-19 Analysis of
Global restrictions on producers and declared lockdowns have severely affected vendors in the digital market sector. This has, in turn, caused a severe impact on digital key industry manufacturers around the world. The digital key market for 2020 has seen a decline in size due to the pandemic. A significant problem was also observed in the growth rate of digital key manufacturers due to the coronavirus. The digital key market is still in its infancy and is affected by the ongoing pandemic. All production and installation activities were stopped, and operations were disrupted. Most digital key manufacturers face significant problems such as closing factories and the inability to hire workers due to lockdowns. This further impacts the production of cars.
Top Influencing Factor:
- The rise of the Internet of things, rapidly growing innovations in the automotive industry, and ease of use drive the growth of automotive digital vital markets.
- Cyber security threats could impact demand for automotive digital keys and hinder the market growth.
- The automotive digital key market offers the potential for technological advancement and improvement in quality of life.
Market Trends
Internet of Things (IOT),
Automotive manufacturers have always focused on integrating Internet of Things technology into their vehicles. This allows them to create new solutions and applications that make cars more intelligent and improve safety and comfort. Manufacturers use the Internet of Things to offer connected car services such as fuel tracking and advanced driver assistance systems (ADAS), speed control, in-vehicle infotainment, and more. Manufacturers participate in developing advanced network security systems to provide greater security against hackers. The National Highway Transportation and Safety Administration also work with suppliers, federal partners, and vehicle manufacturers to solve vehicle cybersecurity problems. The Internet of Things has brought innovations to the automotive industry. Digital car keys are expected to continue gaining popularity among consumers and car manufacturers over the next few years.
Key segments covered:
| Segments | Subsegments |
| Application
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| Technology
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| Key Type
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| Vehicle Type
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Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
The report’s key benefits are:
- This study provides an analytical representation of the automotive digital key industry and current trends and future estimates to determine the likely investment pockets.
- This report provides information about key drivers, limitations, opportunities, and challenges in the automotive digital market.
- To highlight the potential growth of the automotive digital vital markets, we have quantified the current demand from 2020 to 2028.
- This report comprehensively analyzes the automotive digital key market based on competition intensity and how it will shape over time.
Questions Answered in the Automotive Digital Key Market Research Report:
- What are the top market players in the automotive digital market?
- What would the exact impact of COVID-19 be upon the market?
- What trends will influence the market over the next few years?
- What are the automotive digital market’s drivers, limitations, and opportunities?
- What are projections available for the future to help with strategic planning?