According to a new market report published by Lucintel, 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.
Bluetooth, biometric, Wi-Fi, remote cloud key access, & near field communication are the major market segments of the automotive digital key market by technology. On the basis of its comprehensive research, 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.
Infineon Technologies, Telefonaktiebolaget LM Ericsson, Continental, Denso, Tokai Rika, ALPHA, Garmin, Firstech, GARIN System, and STMicroelectronics are the major suppliers in the global automotive digital key market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive digital key market by, technology, application, vehicle type, sales channel, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Digital Key Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. 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
A more than 150 pages and in-depth TOC on “Global Automotive Digital Key Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the 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?