Global Automotive Digital Key Market 2024-2028
The automotive digital key market is forecasted to grow by USD 891 mn during 2023-2028, accelerating at a CAGR of 7.22% during the forecast period. The report on the automotive digital key market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by standardization for using smart devices as keys, accessing multiple vehicles with a single device or application, and rise of internet of things (iot).
Technavio's automotive digital key market is segmented as below:
By Application
- Personal use
- Car sharing and car rental
By Vehicle Type
- Passenger cars
- Commercial vehicles
By Geography
- Europe
- North America
- APAC
- South America
- Middle East and Africa
This study identifies the use of smart wearables as digital keys as one of the prime reasons driving the automotive digital key market growth during the next few years. Also, digital key for all connected systems and expansion of digital ecosystems will lead to sizable demand in the market.
The report on the automotive digital key market covers the following areas:
- Automotive digital key market sizing
- Automotive digital key market forecast
- Automotive digital key market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive digital key market vendors that include Apple Inc., Bayerische Motoren Werke AG, Continental AG, DENSO Corp., Ford Motor Co., Giesecke Devrient GmbH, Hyundai Motor Co., IDEMIA France SAS, Infineon Technologies AG, Mercedes Benz Group AG, NXP Semiconductors NV, Robert Bosch GmbH, Samsung Electronics Co. Ltd., STMicroelectronics International N.V., Telefonaktiebolaget LM Ericsson, Tesla Inc., Thales Group, Valeo SA, Volkswagen AG, and Volvo Car Corp.. Also, the automotive digital key market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.