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Automotive Digital Key Market Incredible Possibilities and Growth with Industry Study, Detailed Analysis and Forecast to 2028
Automotive Digital Key Market
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Companies Profiled in this report includes: BMW AG, Continental AG, Daimler AG, Giesecke+Devrient GmbH, Huf Hülsbeck and Fürst GmbH and Co. KG, Hyundai Motor Company, Robert Bosch GmbH, VALEO, Volkswagen AG, Vouch
MARKET SEGMENTATION
Based on connectivity, the global automotive digital key market is segmented into Remote Cloud Key Access, Near Field Communication, Bluetooth, and Wi-Fi.
On the basis of device type, the market is segmented into smartphone and wearables.
On the basis of platform, the market is segmented into iOS and Android.
On the basis of application, the market is segmented into single function and multi-function.
MARKET DYNAMICS
Drivers:
Increased Global Production of Luxury Cars
Advancements in Automotive Telematics and Advanced Driving Assistance Systems (ADAS)
Restraints:
Concerns Regarding Data Security and Cyberhackers.
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IMPACT OF COVID-19 ON AUTOMOTIVE DIGITAL KEY MARKET
After witnessing a significant drop in 2020 due to the COVID-19 pandemic, the automotive market has been experiencing a gradual recovery in consumer demand for trucks and cars since the last quarter of 2020. According to several automotive industry associations and organizations, the automotive sector recorded ~20â"25% loss in production and more than 30% loss in sales in 2020. The digital key manufacturers observed significant tremors in 2020 owing to the decline in automotive manufacturing. Automotive sales in Europe and the US are anticipated to rebound to pre-COVID-19 pandemic levels by 2023, while China's rebound continues to accelerate, with the potential to approach 30 million new vehicles by 2025. Rapid recovery in the global automotive sector is anticipated to boost the demand for digital vehicle security solutions, such as digital keys, during the forecast period.
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Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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