Automotive Digital Key Market Accelerates with Smart Access, Connectivity, and Enhanced Vehicle Security

The automotive industry is undergoing tremendous changes and is moving in direction of vehicle digitization. Manufacturers are developing automotive digital keys that provide more advanced features than traditional keys, such as enhanced driver safety features, connected cars, and keyless entry. Due to advantages such as improved car safety, popularity of car smart keys has increased significantly in the past decade. Features like high-end luxury cars are being applied in budget cars by companies, such as Honda, which are developing smart keys for budget cars. Use of lightweight and environmentally friendly materials to make internal chips and buttons of smart keys is becoming more and more popular.

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However, a research report from the University of Leuven in Belgium stated that due to loopholes in the security system, a car's digital key can be hacked and unlocked in a short time. For instance, on 28 August 2019, researchers successfully bypassed keyless entry system of a Tesla Model S with ease. Leap Motor introduced biological entry system with the launch of their smart electric coupe S01 model in China, in January 2019. These vehicles are equipped with a "Leap in" biological lock/unlock system that integrates finger vein recognition and face recognition technologies, thus, giving customers a keyless experience from entering vehicles to starting engines.

In addition, major players in the automotive digital key market continue to focus on developing key cards, smart key fobs, and wearable smart keys or smart watches with RFID technology. For instance, Senturion key developed a wearable key or smart watch. With the use of it, one can enter a vehicle and can be used for various other operations as well such as engine start/stop and door lock/unlock.

Top Impacting Factor:

Rise of Internet of things (IOT), rapidly growing innovations in automotive industry, and ease of use drive growth of the automotive digital key market.
Cyber security threats may affect demand for automotive digital key and subsequently hinder the market growth.
Improvement in standard of living and technological development is the opportunity for the automotive digital key market.
Market Trends

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Rise of Internet of Things (IOT)

Embedding Internet of Things technology in the automotive field, creating new applications and solutions, making cars smarter, and providing comfort, efficiency and driving safety, has always been the focus of automotive manufacturers. Manufacturers are implementing Internet of Things to provide drivers with connected car applications such as fuel tracking, advanced driver assistance systems (ADAS), speed control, and in-vehicle infotainment systems. Manufacturers participate in development of advanced network security systems to provide better security against hacker attacks. In addition, to ensure vehicle safety, the National Highway Transportation and Safety Administration (NHTSA) is working with vehicle manufacturers, federal partners, and suppliers to address vehicle cybersecurity challenges. Digital car key is one of the new innovations brought about by adoption of Internet of Things, hence is expected to gain momentum among car manufacturers and consumers in the next few years.

Region

North America

U.S.
Canada
Mexico

Europe

Germany
France
UK
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
South Korea
Rest of Asia-Pacific

LAMEA

Latin America
Middle East
Africa

By Technology

Remote Keyless Entry (RKE)
Passive Keyless Entry (PKE)
Near Field Communication (NFC) Keyless Entry
Others

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Key Market Players

Garmin Ltd.,
Denso Corporation,
GARIN System Co., Ltd,
Infineon Technologies AG,
ALPHA Corporation,
Tokai Rika Co. Ltd.,
STMicroelectronics,
Continental AG,
Firstech LLC.,
Telefonaktiebolaget LM Ericsson

Key benefits of the report:

This study presents the analytical depiction of the automotive digital key industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive digital key market.
The current market is quantitatively analyzed from 2020 to 2028 to highlight the automotive digital key market growth scenario.
The report provides a detailed automotive digital key market analysis based on competitive intensity and how the competition will take shape in coming years.

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