Sales Revenue of Automotive Digital Key Market to Soar in the Near Future Owing to Growing Consumer Adoption

The global automotive digital key market is estimated to be valued at ~US$ 2 Bn in 2019, and grow at a CAGR of ~12% during the period, 2019-2031. Gains remain driven by various factors, ranging from digital revolution in the automotive industry to ever-rising consumers' demand for convenience and ease of operations.

Smart key fob continues to account for major share of manufacturers' bottom lines, while key card and smart watch are likely to experience increasing demand in the coming years. In terms of geographical outlook, East Asia is projected to be a prominent region for the automotive digital key market, owing to favourable government initiatives for industrial development along with emergence of China as the world's largest automotive market.

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Key Players:

The report has profiled some of the Important players prevalent in the global like - Infineon Technologies AG, Telefonaktiebolaget LM Ericsson, Continental AG, Silca S.p.A., Denso Corporation, Tokai Rika Co. Ltd., ALPHA Corporation, Garmin Ltd., Firstech, LLC, GARIN System Co., Ltd., SENTURION KEY, STMicroelectronics and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Automotive Digital Key.

Manufacturers Lean on Advanced Technologies to Offer Superior Products

The ongoing trend in the automotive industry is the integration of digital technology in vehicles. Significant advances in technology has resulted in fundamental changes which helped deliver value-added services to customers. In addition, digital transformation has helped manufacturers meet evolving customer expectations and deliver superior products. It has enabled a constant pace of innovation on the manufacturing front. As the automotive industry expands, expectations and demands from customers are moving beyond the traditional transportation needs to new, luxurious, stand-out mobility services that enable access to various information and communication technologies. Automotive digital key is one such technology, formed as a result of rapidly changing consumers' choices. Increasing focus of manufacturers on improving technological features and growing consumer needs for better features are expected to boost the demand for automotive digital key in the coming years.

Gains Underpinned by Rising Auto Thefts and Need for Increased Vehicle Security

PMR found that auto-thefts have been increasing at an alarming rate. The rate of vehicles stolen has increased significantly over the past five years, due to below par security features in certain vehicles. For instance, the Federal Bureau of Investigation (FBI) has recently released statistics of vehicle theft, which were 773,139 in 2017, increasing from ~686,803 in 2014. As the vehicle theft incidence continues to be on the rise, automotive manufacturers are targeted towards offering better security features and introduction of keyless solutions for vehicles; the result is likely to lead to increasing demand for automotive digital key in the foreseeable future.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders
Automotive Digital Key Market Manufacturers
Automotive Digital Key Market Distributors/Traders/Wholesalers
Automotive Digital Key Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

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Major Highlights of the Automotive Digital Key Market Report:

The Automotive Digital Key Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.

The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.

The report analyzes the Automotive Digital Key Market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.

The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.

Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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