Automotive Key Market: Global Industry Analysis and Forecast (2021-2027)

Automotive Key Market size was valued at US$ 16.2 Bn. in 2020 and the total revenue is expected to grow at 5.42 % through 2021 to 2027, Automotive Key Market is reaching nearly US$ 26.37 Bn. by 2027.

Automotive Key Market Overview:

The automotive industry is now growing in tremendous way to the digitalization. Automotive key is also known as smart keys which provides features like digitalization and more functionalities. It embedded with the microchip and sensors to automatic lock and unlock the doors and start and stop vehicle without using manual key. The automotive key available in standard equipment format depending on the model of the car. Automotive digital keys are being developed by manufacturers to give more advanced features than traditional keys, such as better driver safety features, connected cars, and keyless entry. Automotive keys have grown in popularity over the last years as a result of benefits such as better vehicle safety. Companies such as Honda are producing keys for affordable automobiles with features similar to those seen in high-end luxury cars. Internal chips and buttons of smart keys are increasingly being made of lightweight and environmentally friendly materials. Automotive Key Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2027. 2020 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Automotive Key Market Dynamics:

Increasing demand for luxury cars which contains advanced technology and equipped with automotive technology is likely to drive the market over the forecast period. Also the electric and hybrid cars are introduces in the market with advanced safety and security features increasing demand of automotive key market. Over the forecast period, the market is expected to benefit from increasing technical advancements in vehicle security and safety, as well as other technologies such as automotive telematics systems and experienced driving assistance systems. Increasing advancements in car safety and security technology, such as automotive telematics, advanced driver assistance systems (ADAS), and others. The demand for automotive keys is expected to increase over the forecast period. Due to the synchronisation of these technologies, which will necessitate a remote operated technology that can control vehicle's necessary functions via wireless remote. The benefits such as better vehicle security, the automotive key has gained traction during the forecast period. Companies like Honda, which are working on developing smart keys for budget cars, are incorporating features comparable to those seen in high-end luxury automobiles into cheap cars. The introduction of innovative technology that uses radio frequency (RF) signals to convert them to digital information has improved the use of keys in the automotive industry, which is expected to drive market growth in the forecast period. For instance, on August 28, 2019, researchers successfully circumvented the Tesla Model S's keyless entry system. With the launch of their smart electric coupe S01 model in China in January 2019, Leap Motor launched a biological entrance mechanism. These vehicles include a "Leap in" biological lock/unlock system that combines finger recognition and face recognition technology to provide consumers with a keyless entry and start experience. By the end of 2027, data security and safety are expected to be limiting to the global automotive key market. Also, the high initial cost of a smart key as a wireless technology, as well as fake products from China, may hamper the global automotive keys market's growth trend throughout the forecast period.

Global Automotive Key Market Segment Analysis:

The Automotive Key Market is segmented into product type, vehicle type, Installation, Technology and Application. Automotive Key Market 1 Based on Product Type, market is sub-segmented into smart key fob, key card and smart watch. Smart key fob is expected to grow at a CAGR of 3.1 % during the forecast period. To perform door lock and unlock activities, the smart key fob communicates through radio waves. Without inserting a key in the ignition, some keys are used to regulate inactivate operations and ignition activation. The market's and customers' positive responses are expected to raise the smart key fob segment's share of the global automotive key market.

Global Automotive Key Market Regional Analysis –

Asia-pacific region leading the market in 2020. Over the forecast period, Increased imports, rapid growth of keys in the Indian and Chinese markets, Chinese and Indian enterprises introducing cars with keyless input characteristics, the growing demand for advanced technology autonomous keys, rising vehicle production, increasing the installation of safety features in passenger cars and commercial vehicles, high customer demand, high purchasing power that has increased the demand for vehicles, China being the world's largest car industry, increasing the demand for vehicles. Automotive Key Market 2 Increasing adoption of smart technology for automotive vehicles in North America is expected to make the region the second largest market for automotive keys over the forecast period. Due to rising hacking and cybercrime, Europe is expected to provide a smaller contribution to the automotive key industry. Because keys for automobiles are considered wireless devices. As a result, the risk of car theft or hacking may be considerable. The objective of the report is to present a comprehensive analysis of the global Automotive Key Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Automotive Key Market dynamics, structure by analyzing the market segments and project the global Automotive Key Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Automotive Key Market make the report investor’s guide.

Global Automotive Key Market Scope: Inquire before buying

Global Automotive Key Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 16.2 Bn.
Forecast Period 2021 to 2027 CAGR: 5.42 % Market Size in 2027: US $ 26.37 Bn.
Segments Covered: by Product Type • Smart Key Fob • Key Card • Smartwatch
by Vehicle Type • Passenger Car • LCV • HCV • HEV
by Installation • OEM • Aftermarket
by Technology • Remote Keyless Entry • Passive Keyless Entry
by Application • Single Function • Multi-function

Global Automotive Key Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Global Automotive Key Market Key Players

• Infineon Technologies AG • Telefonaktiebolaget LM Ericsson • Continental AG • Denso Corporation • Tokai Rika Co. Ltd. • ALPHA Corporation • Garmin Ltd. • Firstech, LLC. • GARIN System Co., Ltd. • STMicroelectronics • SENTURION KEY • Silca S.p.A. • Valeo • United Technology Corporation • Kwikset • Hyundai motor company

Frequently Asked Questions:

1) What was the market size of Global Automotive Key Market in 2020? Ans - Global Global Automotive Key Market was worth US$ 16.2 Bn. in 2020. 2) What is the market segment of the Automotive Key Market? Ans -The market segments are based on Product type, Vehicle type, Installation, Technology and Application. 3) What is the forecast period considered for Global Automotive Key Market? Ans -The forecast period for Global Automotive Key Market is 2021 to 2027. 4) What is the market size of Global Automotive Key Market markets in 2027? Ans – Global Automotive Key Market is estimated as worth US$ 26.37 Bn. 5) Which region is dominated in Global Automotive Key Market? Ans -In 2020, the Asia pacific region dominated the Global Automotive Key Market.
1. Global Automotive Key Market : Research Methodology 2. Global Automotive Key Market : Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Automotive Key Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Automotive Key Market : Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-17.6 Impact 4. Global Automotive Key Market Segmentation 4.1. Global Automotive Key Market ,by Product type (2020-2027) • Smart Key Fob • Key Card • Smart watch 4.2. Global Automotive Key Market , by Vehicle type (2020-2027) • Passenger Car • LCV • HCV • HEV 4.3. Global Automotive Key Market , by Installation (2020-2027) • OEM • Aftermarket 4.4. Global Automotive Key Market , by Technology (2020-2027) • Remote Keyless Entry • Passive Keyless Entry 1.1. Global Automotive Key Market , by Application (2020-2027) • Single Function • Multi-function 5. North America Automotive Key Market (2020-2027) 5.1. North America Automotive Key Market , by Product type (2020-2027) • Smart Key Fob • Key Card • Smart watch 5.2. North America Automotive Key Market , by Vehicle type (2020-2027) • Passenger Car • LCV • HCV • HEV 5.3. North America Automotive Key Market , by Installation (2020-2027) • OEM • Aftermarket 5.4. North America Automotive Key Market , by Technology (2020-2027) • Remote Keyless Entry • Passive Keyless Entry 5.5. North America Automotive Key Market , by Application (2020-2027) • Single Function • Multi-function 5.6. North America Automotive Key Market , by Country (2020-2027) • US • Canada • Mexico 6. European Automotive Key Market (2020-2027) 6.1. European Automotive Key Market , by Product type (2020-2027) 6.2. European Automotive Key Market , by Vehicle type (2020-2027) 6.3. European Automotive Key Market , by Installation (2020-2027) 6.4. European Automotive Key Market , by Technology (2020-2027) 6.5. European Automotive Key Market , by Application (2020-2027) 6.6. European Automotive Key Market , by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Automotive Key Market (2020-2027) 7.1. Asia Pacific Automotive Key Market , by Product type (2020-2027) 7.2. Asia Pacific Automotive Key Market , by Vehicle type (2020-2027) 7.3. Asia Pacific Automotive Key Market , by Installation (2020-2027) 7.4. Asia Pacific Automotive Key Market , by Technology (2020-2027) 7.5. Asia Pacific Automotive Key Market , by Application (2020-2027) 7.6. Asia Pacific Automotive Key Market , by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Automotive Key Market (2020-2027) 8.1. Middle East and Africa Automotive Key Market , by Product type (2020-2027) 8.2. Middle East and Africa Automotive Key Market , by Vehicle type (2020-2027) 8.3. Middle East and Africa Automotive Key Market , by Installation (2020-2027) 8.4. Middle East and Africa Automotive Key Market , by Technology (2020-2027) 8.5. Middle East and Africa Automotive Key Market , by Application (2020-2027) 8.6. Middle East and Africa Automotive Key Market , by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Automotive Key Market (2020-2027) 9.1. Latin America Automotive Key Market , by Product type (2020-2027) 9.2. Latin America Automotive Key Market , by Vehicle type (2020-2027) 9.3. Latin America Automotive Key Market , by Installation (2020-2027) 9.4. Latin America Automotive Key Market , by Technology (2020-2027) 9.5. Latin America Automotive Key Market , by Application (2020-2027) 9.6. Latin America Automotive Key Market , by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. AAR Corp 10.1.1. Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Air-France Industries KLM Engineering & Maintenance 10.3. Bombardier Inc. 10.4. Delta TechOps 10.5. GE Aviation 10.6. Hong Kong Aircraft Engineering Co. Ltd. 10.7. Lufthansa Technik 10.8. MTU Aero Engines AG 10.9. Triumph Group, Inc 10.10. Airgas, Inc. (Air Liquide S.A.) 10.11. WESCO International, Inc. 10.12. Sonepar SA 10.13. W.W. Grainger, Inc. 10.14. Interline Brands, Inc. 10.15. Motion Industries 10.16. Greenwich Aero Group 10.17. Abu Dhabi Aircraft Technologies 10.18. Turkish Technic

About This Report

Report ID 81555
Category Automotive and Transportation
Published Date January 2021
Updated Date Dec 2021
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