Automotive Digital Key Market Report: Trends, Forecast and Competitive Analysis

Automotive Digital Key Market Trends and Forecast

The future of the global automotive digital key market looks promising with opportunities in the passenger vehicle and commercial vehicle markets. The global automotive digital key market is expected to grow with a CAGR of 21% to 23% from 2023 to 2028. The major drivers for this market are increase in demand of vehicles with advanced and digital technologies and ease of use.

Automotive Digital Key Market

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Automotive Digital Key Market by Segments

Automotive Digital Key Market by Segment

The study includes a forecast for the global automotive digital key market by technology, application, vehicle type, sales channel, and region, as follows:

Automotive Digital Key Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

Bluetooth

Biometric

Wi-Fi

Remote Cloud Key Access

Near Field Communication

Automotive Digital Key Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

Single function

Multi Function

Automotive Digital Key Market by Vehicle Type [Value ($B) Shipment Analysis from 2017 to 2028]:

Passenger Vehicle

Commercial Vehicle

Automotive Digital Key Market by Sales Channel [Value ($B) Shipment Analysis from 2017 to 2028]:

Aftersales

Original Equipment Manufacturer (OEM)

Automotive Digital Key Market by Region Type [Value ($B) Shipment Analysis from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of Automotive Digital Key Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive digital key companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive digital key companies profiled in this report include.

Infineon Technologies

Telefonaktiebolaget LM Ericsson

Continental

Denso

Tokai Rika

ALPHA Corporation

Garmin

Firstech

GARIN System

STMicroelectronics

Automotive Digital Key Market Insights

Lucintel forecasts that near-field communication will remain the largest segment over the forecast period due to its flexibility, which enables the vehicle’s owner to lock/unlock the vehicle with the help of a unique smartphone device, thus ensuring safe and convenient way to access.

Within this market, passenger vehicle is expected to remain the largest segment due to the improvement in the standard of living, rise in disposable income, and growing trend of owing a personal vehicle.

APAC will remain the largest region due to increasing penetration of advanced and autonomous technologies in the automotive industry combined with rising demand for vehicles with safety features.

Features of the Automotive Digital Key Market

Market Size Estimates: Automotive digital key market size estimation in terms of value ($B)

Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: Automotive digital key market size by various segments, such as by technology, application, vehicle type, sales channel, and region in terms of value ($B)

Regional Analysis: Automotive digital key market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different by technology, application, vehicle type, sales channel, and regions for the automotive digital key market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the automotive digital key market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the automotive digital key market size?

Answer: The global automotive digital key market is expected to reach an estimated $xx billion by 2028.

Q2. What is the growth forecast for automotive digital key market?

Answer: The global automotive digital key market is expected to grow with a CAGR of 21% to 23% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the automotive digital key market?

Answer: The major drivers for this market are increase in demand of vehicles with advanced and digital technologies and ease of use.

Q4. What are the major segments for automotive digital key market?

Answer: The future of the global automotive digital key market looks promising with opportunities in the passenger vehicle and commercial vehicle markets.

Q5. Who are the key automotive digital key companies?

Answer: Some of the key automotive digital key companies are as follows:

Infineon Technologies

Telefonaktiebolaget LM Ericsson

Continental

Denson

Tokai Rika

ALPHA Corporation

Garmin

Firstech

GARIN System

STMicroelectronics

Q6. Which automotive digital key segment will be the largest in future?

Answer: Lucintel forecasts that near-field communication will remain the largest segment over the forecast period due to its flexibility, which enables the vehicle’s owner to lock/unlock the vehicle with the help of a unique smartphone device, thus ensuring safe and convenient way to access.

Q7. In automotive digital key market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region due to increasing penetration of advanced and autonomous technologies in the automotive industry combined with rising demand for vehicles with safety features.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the automotive digital key market by technology (bluetooth, biometric, Wi-Fi, remote cloud key access, & near field communication), application (single function and multi function), vehicle type (passenger vehicle and commercial vehicle), sales channel (aftersales and original equipment manufacturer (OEM)), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?

For any questions related to automotive digital key market or related to automotive digital key companies, automotive digital key market size, automotive digital key market share, automotive digital key analysis, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
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