Automotive Digital Key Market: Post COVID Growth Opportunity Analysis, Key Players | Infineon Technologies AG, Ericsson, Continental AG, Denso Corporation, and others

The global Automotive Digital Key market size was valued at $2.23 Billion in 2020 and is expected to reach $6.65 Billion by 2028 growing at the CAGR of 14.55% from 2021 to 2028.

This growth is attributed to:
● Increasing demand to purchase high-end vehicles over the past few years, while suppliers have been working hard on improving vehicle integration.
● Internet of Things technology, which has been developing rapidly, and its implementation within vehicles is evolving from enabling simple yet helpful features such as parking assist or access control into becoming a major component of security systems.

However, an increasing number of cyber security threats are expected to become major restraint for this market's growth during the forecast period.

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The recently published research report on Global Automotive Digital Key Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Automotive Digital Key market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Automotive Digital Key market report also includes the following data points:
● COVID19 Impact on Automotive Digital Key market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Automotive Digital Key market

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Key Players
Some of the major Automotive Digital Key players holding high market share include Infineon Technologies AG, Ericsson, and Continental AG. These players use new product development and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Infineon Technologies AG
● Ericsson
● Continental AG
● Denso Corporation
● Tokai Rika Co. Ltd.
● ALPHA Corporation
● Garmin Ltd.
● Firstech, LLC.
● STMicroelectronics
● SENTURION KEY

Segmental Analysis
Market Segment By Product with focus on market share, consumption trend, and growth rate of Automotive Digital Key Market:
o Smart Key Fob
o Key Card
o Smartwatch

Market Segment By Vehicle with focus on market share, consumption trend, and growth rate of Automotive Digital Key Market:
o Passenger Car
o LCV
o HCV
o HEV

Market Segment By Sales with a focus on market share, consumption trend, and growth rate of Automotive Digital Key Market:
o OEMs
o Aftermarket

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Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

The Asia Pacific region accounted for a major share of the global automotive digital key market. The region has the major presence of developed countries that are home to advanced research and development facilities for automotive key, resulting in the adoption of several solutions based on this technology across the region. China dominates the automotive digital key market in the Asia Pacific due to its strong role as an automotive manufacturing hub across the globe.

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