Automotive Smart Key Market Size, Growth & Forecast to 2028

Automotive Smart Key Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Single Function and Multi-function) and Technology (Remote Keyless Entry and Passive Keyless Entry) and Geography

  • Report Code : TIPRE00007451
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 150
Buy Now

[Research Report] The automotive smart key market is expected to grow from US$ 8,023.9 million in 2021 to US$ 12,020.4 million by 2028; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028.

With rapid technological advancements, the global automotive smart key market is estimated to grow at a significant CAGR during the forecast period. The increasing awareness about the vehicle safety and security among customers is boosting the need for automotive smart keys substantially. In addition, the rising demand for automobiles, electrification of vehicles, and the surge in the number of government policies and regulations pertaining to vehicle safety are anticipated to propel this market in the next few years. The production and sales of passenger and commercial vehicles have surged significantly across the world. This has resulted in high demand for central locking or comfort closing systems to increase the convenience of the driver and the security of the cabin. Further, automotive smart keys can benefits by conferring the added conveniences of opening doors, enabling users to start the engine without taking the key fob out of the pocket, and allowing the storage of vehicle settings data and remote opening of windows.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Automotive Smart Key Market: Strategic Insights

automotive-smart-key-market
Market Size Value inUS$ 8,023.9 million in 2021
Market Size Value byUS$ 12,020.4 million by 2028
Growth rateCAGR of 5.9% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
Analyst Image

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Automotive smart key manufacturers are actively focusing on design innovations, opening new opportunities for the market. Smart keys with two-way vehicle communications and rolling security code with changing patterns are also encouraging the market growth. Automakers are introducing smart key systems that employ radio communications and advanced detection systems to detect the presence of the key fob near or inside the vehicle. The automotive smart keys are waterproof and durable and, thus, exhibit extended performance. Technological advancements have enabled car manufacturers to employ sophisticated equipment for car security and safety at reduced costs. For instance, Mercedes-Benz’s “Smart Key” transmits a unique code to car’s onboard computer system, which is hard to duplicate for the benefit of heightened security.


Impact of COVID-19 Pandemic on Automotive Smart Key Market

Growth of economies, and improvements in production and manufacturing infrastructures, especially in developing countries, have bolstered the growth of the automobile market. According to several automotive industry associations and organizations, the automotive sector recorded ~20–25% loss in production and more than 30% loss in sales in 2020.  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.

Lucrative Regions for Automotive Smart Key Market

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Market Insight

Increased Global Production of Luxury Cars Drives Automotive Smart Key Market Growth

Shifting preferences of consumers and their increasing disposable incomes have fueled the demand for luxury cars worldwide. The need for a high level of comfort and safety and the new trend of electric vehicles is further bolstering the luxury cars segment. China’s luxury car market currently exhibits the highest growth potential among all the developing countries with a significant presence of carmakers, such as Audi, Mercedes-Benz, and BMW. According to the China Automobile Dealers Association, the China automotive industry reported the sale of approximately 2,77,000 luxury cars in April 2020, an 11.1% increase over April 2019. In September 2017, Continental Aftermarket & Services announced its Keys-as-a-Service Portfolio with the availability of its cloud-based solutions continental smart access (CoSmA) and remote cloud key (RCK) to provide keyless vehicle access and start authorization. This solution enables owners to access vehicles using a smart device, such as a smartphone. Such developments are significantly driving the automotive smart keys market.

Application Segment Insights

Based on application, the global automotive smart key market is segmented into single function and multi-function. The adoption of multi-function smart automotive keys is growing with the rising demands for luxury vehicles with equipped with advanced safety and security features. With access to standard car operations, many market players are offering multi-functional smart keys with creative solutions to modern problems. Smart keys make key sharing simple by digitizing the process and integrating with the customer’s phone. In 2016, Hyundai Motor Co. introduced a band-type wearable multi-function smart key that enables the driver to open car doors and trunk, and start the engine from remote areas. The key also features real-time fitness tracker such as heart rate monitoring during sleep or workout. Similarly, Valeo launched a smart watch system that allows drivers to lock and unlock vehicles by enabling the synchronization of data between the car and the smartphone; the drivers can these data to check tire pressure and fuel levels. The Ford Escape has settings to prevent the vehicle from exceeding a maximum speed if it has been started with a certain key. Technological advancements are further bolstering the growth of the market for multi-functional automotive smart keys.

Automotive Smart Key Market, by Application (% Share)

Automotive Smart Key Market, by Application (% Share)
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Technology Segment Insights

Based on technology, the global automotive smart key market is segmented into remote keyless entry and passive keyless entry.

The remote keyless entry (RKE) is an electronic access system commonly used to protect vehicles from theft. Advanced features such as modular design with integrated electronic control unit (ECU), entry protection for the vehicle, separate unlocking of driver door and passenger door, and window lift function to prevent injury at automatic closing are bolstering the growth of the market for the RKE segment. In 2017, Hyundai Mobis developed an integrated smart key system, wherein an app on a smartphone supported by the Near Field Communication (NFC) technology is used as a smart key for the vehicle. Drivers can unlock their vehicle by positioning NFC-supported smartphone that acts as a remote control closer to the door of the vehicle. They can also start it by pressing the start button after setting their smartphone on the wireless charging pad inside their vehicles. The vehicle owners can also authorize a third party to use an NFC-based smart key, alongside controlling user permissions for the smart key, to prevent unwanted incidents.

The automotive smart key market players focus on new product innovations and developments by using advanced technologies and features. In October 2021, TOKAI RIKA CO., LTD. decided to establish a new cloud business center, Aichi Prefecture, in Nagoya, to expand its cloud-based business activities, particularly those involving digital keys. This new office will be primarily responsible for the development and design of digital key systems and applications.

Automotive Smart Key Market – by Application

  • Single Function
  • Multi-Function

Automotive Smart Key Market – by Technology

  • Remote Keyless Entry
  • Passive Keyless Entry

Automotive Smart Key Market – by Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM

Automotive Smart Key Market – Company Profiles

  • ALPHA Corporation
  • Continental AG
  • Denso Corporation
  • Honda Lock Mfg. Co., Ltd.
  • Hyundai Mobis
  • Silca S.p. A.
  • TOKAI RIKA,CO, LTD.
  • TOYOTA MOTOR CORPORATION
  • Valeo
  • HELLA GmbH and Co. KGaA
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Application, and Technology

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are the driving factors responsible for the growth of automotive smart key market?

Increased Global Production of Luxury Cars
Surge in Safety Feature Deployment in Commercial and Passenger Vehicles

What are the market opportunities for automotive smart key market?

The rising demand for an electronic technology that assists drivers through a safe human-machine interface has propelled the growth of ADAS. The use of digital or radio frequency identification (RFID) technologies for signaling or information handling has been providing lucrative growth opportunities for smart key market vendors. The advanced telematics navigation and tracking systems are increasingly becoming a standard on vehicles. Advanced driving assistance systems in vehicles are estimated to surge due to the increasing awareness about vehicle safety ratings and decreasing component costs. In March 2020, NXP Semiconductors announced an automotive Digital Key Solution that enables smartphones, key fobs, and other mobile devices to securely communicate, authenticate, and share digital keys with vehicles. The solution is built on near-field communication (NFC) chipsets and enables new features, such as key sharing, multi-car access, and configurable driving rights. The increasing contribution of high-end technologies in the passenger car segment, attributed to supporting legislation and consumer awareness, is projected to boost the smart keys market in Europe, North America, and Asia Pacific.

Which application-based segment has the largest market share in 2020?

Based on Application, the global automotive smart key market is segmented into single function, and multi-function. The global automotive smart key market is dominated by single function segment in 2020, which accounted for ~ 56%.

What are the future trend for automotive smart key market?

The demand for active and passive Keyless entry systems to lock, unlock, and start the car’s engine remotely using RF signals has increased significantly. Mechanical keys restrict unauthorized access to automobiles. Modern vehicles use microcontrollers for applications, such as passive keyless entry systems and vehicle immobilizer systems. Embedded electronic systems are convenient; however, system security can be breached through theft or fault in the wireless interface scanning. This factor has led to the development of an automobile keyless entry system using two-factor authentication, in which, the automobile can autonomously verify the user and device-based key fob authentication framework, enabling a two-factor authentication system. The emerging trends of two-factor authentication in keyless authorization systems to prevent security breaches and hacking is boosting the global automotive smart key market. A state-of-the-art radio technology, innovative keyless system, high-precision, and interference-free key location system provide optimum safety and convenience to drivers and passengers.

Who are the major vendors in the automotive smart key market?

Key companies in the automotive smart key market include ALPHA Corporation; Continental AG; Denso Corporation; Honda Lock Mfg. Co., Ltd.; Hyundai Mobis; Silca S.p. A.; TOKAIRIKA,CO, LTD.; TOYOTA MOTOR CORPORATION; Valeo; and HELLA GmbH and Co. KGaA.

Which region has the largest market share in the automotive smart key market?

APAC held the largest market share in year 2020, along with the notable revenue generation opportunities in Europe and North America.

1. Introduction. 19

1.1 Study Scope. 19

1.2 The Insight Partners Research Report Guidance. 19

1.3 Market Segmentation. 20

2. Key Takeaways. 22

3. Research Methodology. 25

3.1 Coverage. 26

3.2 Secondary Research. 26

3.3 Primary Research. 27

4. Automotive Smart Key Market Landscape. 28

4.1 Market Overview. 28

4.2 PEST Analysis. 29

4.2.1 North America. 29

4.2.2 Europe. 29

4.2.3 APAC.. 30

4.2.4 MEA. 30

4.2.5 SAM... 31

4.3 Ecosystem Analysis. 31

4.4 Expert Opinions. 32

5. Automotive Smart Key Market – Key Market Dynamics. 33

5.1 Market Drivers. 33

5.1.1 Increased Global Production of Luxury Cars. 33

5.1.2 Surge in Safety Feature Deployment in Commercial and Passenger Vehicles. 33

5.2 Market Restraints. 34

5.2.1 Concerns Regarding Data Security and Cybercrime. 34

5.3 Market Opportunities. 34

5.3.1 Advancements in Automotive Telematics and Advanced Driving Assistance Systems (ADAS) 34

5.4 Future Trends. 35

5.4.1 Increasing Uptake of Keyless Authorization Systems in Vehicles. 35

5.5 Impact Analysis of Drivers And Restraints. 35

6. Automotive Smart Key – Global Market Analysis. 36

6.1 Global Automotive Smart Key Market Overview. 36

6.2 Global Automotive smart key Market Revenue Forecast and Analysis. 38

6.3 Market Positioning – Five Key Players. 39

7. Automotive Smart Key Market Analysis – By Application. 40

7.1 Overview. 40

7.2 Automotive Smart Key Market, By Application (2020 and 2028) 40

7.3 Single Function. 41

7.3.1 Overview.. 41

7.3.2 Single Function: Automotive Smart Key Market – Revenue and Forecast to 2028 (USD Million) 41

7.4 Multi-function. 42

7.4.1 Overview.. 42

7.4.2 Multi-Function: Automotive Smart Key Market – Revenue and Forecast to 2028 (USD Million) 42

8. Automotive Smart Key Market Analysis – By Technology. 43

8.1 Overview. 43

8.2 Automotive Smart Key Market, By Technology (2020 and 2028) 43

8.3 Remote Keyless Entry. 44

8.3.1 Overview.. 44

8.3.2 Remote Keyless Entry: Automotive Smart Key Market – Revenue and Forecast to 2028 (USD Million) 44

8.4 Passive Keyless Entry. 45

8.4.1 Overview.. 45

8.4.2 Passive Keyless Entry: Automotive Smart Key Market – Revenue and Forecast to 2028 (USD Million) 45

9. Automotive Smart Key Market – Geographic Analysis. 46

9.1 Overview. 46

9.2 North America: Automotive smart key Market 47

9.2.1 North America: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 47

9.2.2 North America: Automotive Smart Key Market, By Application. 48

9.2.3 North America: Automotive Smart Key Market, By Technology. 49

9.2.4 North America: Automotive Smart Key Market, By Country. 50

9.2.4.1 United States: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 51

9.2.4.1.1 United States: Automotive Smart Key Market, By Application. 51

9.2.4.1.2 United States: Automotive Smart Key Market, By Technology. 52

9.2.4.2 Canada: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 53

9.2.4.2.1 Canada: Automotive Smart Key Market, By Application. 53

9.2.4.2.2 Canada: Automotive Smart Key Market, By Technology. 54

9.2.4.3 Mexico: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 55

9.2.4.3.1 Mexico: Automotive Smart Key Market, By Application. 55

9.2.4.3.2 Mexico: Automotive Smart Key Market, By Technology. 56

9.3 Europe: Automotive smart key Market 57

9.3.1 Europe: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 57

9.3.2 Europe: Automotive Smart Key Market, By Application. 58

9.3.3 Europe: Automotive Smart Key Market, By Technology. 59

9.3.4 Europe: Automotive Smart Key Market, By Country. 60

9.3.4.1 Germany: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 61

9.3.4.1.1 Germany: Automotive Smart Key Market, By Application. 61

9.3.4.1.2 Germany: Automotive Smart Key Market, By Technology. 62

9.3.4.2 France: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 63

9.3.4.2.1 France: Automotive Smart Key Market, By Application. 63

9.3.4.2.2 France: Automotive Smart Key Market, By Technology. 64

9.3.4.3 Italy: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 65

9.3.4.3.1 Italy: Automotive Smart Key Market, By Application. 65

9.3.4.3.2 Italy: Automotive Smart Key Market, By Technology. 66

9.3.4.4 UK: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 67

9.3.4.4.1 UK: Automotive Smart Key Market, By Application. 67

9.3.4.4.2 UK: Automotive Smart Key Market, By Technology. 68

9.3.4.5 Russia: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 69

9.3.4.5.1 Russia: Automotive Smart Key Market, By Application. 69

9.3.4.5.2 Russia: Automotive Smart Key Market, By Technology. 70

9.3.4.6 Rest of Europe: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 71

9.3.4.6.1 Rest of Europe: Automotive Smart Key Market, By Application. 71

9.3.4.6.2 Rest of Europe: Automotive Smart Key Market, By Technology. 72

9.4 Asia-Pacific: Automotive smart key Market 73

9.4.1 Asia-Pacific: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 73

9.4.2 Asia-Pacific: Automotive Smart Key Market, By Application. 74

9.4.3 Asia-Pacific: Automotive Smart Key Market, By Technology. 75

9.4.4 Asia-Pacific: Automotive Smart Key Market, By Country. 76

9.4.4.1 Australia: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 77

9.4.4.1.1 Australia: Automotive Smart Key Market, By Application. 78

9.4.4.1.2 Australia: Automotive Smart Key Market, By Technology. 78

9.4.4.2 China: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 79

9.4.4.2.1 China: Automotive Smart Key Market, By Application. 79

9.4.4.2.2 China: Automotive Smart Key Market, By Technology. 80

9.4.4.3 India: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 81

9.4.4.3.1 India: Automotive Smart Key Market, By Application. 82

9.4.4.3.2 India: Automotive Smart Key Market, By Technology. 82

9.4.4.4 Japan: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 83

9.4.4.4.1 Japan: Automotive Smart Key Market, By Application. 83

9.4.4.4.2 Japan: Automotive Smart Key Market, By Technology. 84

9.4.4.5 South Korea: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 85

9.4.4.5.1 South Korea: Automotive Smart Key Market, By Application. 85

9.4.4.5.2 South Korea: Automotive Smart Key Market, By Technology. 86

9.4.4.6 Rest of Asia-Pacific: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 87

9.4.4.6.1 Rest of Asia-Pacific: Automotive Smart Key Market, By Application. 87

9.4.4.6.2 Rest of Asia-Pacific: Automotive Smart Key Market, By Technology. 88

9.5 Middle East and Africa: Automotive smart key Market 89

9.5.1 Middle East and Africa: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 89

9.5.2 Middle East and Africa: Automotive Smart Key Market, By Application. 90

9.5.3 Middle East and Africa: Automotive Smart Key Market, By Technology. 91

9.5.4 Middle East and Africa: Automotive Smart Key Market, By Country. 92

9.5.4.1 South Africa: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 93

9.5.4.1.1 South Africa: Automotive Smart Key Market, By Application. 93

9.5.4.1.2 South Africa: Automotive Smart Key Market, By Technology. 94

9.5.4.2 Saudi Arabia: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 95

9.5.4.2.1 Saudi Arabia: Automotive Smart Key Market, By Application. 95

9.5.4.2.2 Saudi Arabia: Automotive Smart Key Market, By Technology. 96

9.5.4.3 U.A.E: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 97

9.5.4.3.1 U.A.E: Automotive Smart Key Market, By Application. 97

9.5.4.3.2 U.A.E: Automotive Smart Key Market, By Technology. 98

9.5.4.4 Rest of Middle East and Africa: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 99

9.5.4.4.1 Rest of Middle East and Africa: Automotive Smart Key Market, By Application. 99

9.5.4.4.2 Rest of Middle East and Africa: Automotive Smart Key Market, By Technology. 100

9.6 South America: Automotive smart key Market 101

9.6.1 South America: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 101

9.6.2 South America: Automotive Smart Key Market, By Application. 102

9.6.3 South America: Automotive Smart Key Market, By Technology. 103

9.6.4 South America: Automotive Smart Key Market, By Country. 104

9.6.4.1 Brazil: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 105

9.6.4.1.1 Brazil: Automotive Smart Key Market, By Application. 105

9.6.4.1.2 Brazil: Automotive Smart Key Market, By Technology. 106

9.6.4.2 Argentina: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 107

9.6.4.2.1 Argentina: Automotive Smart Key Market, By Application. 107

9.6.4.2.2 Argentina: Automotive Smart Key Market, By Technology. 108

9.6.4.3 Rest of South America: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 109

9.6.4.3.1 Rest of South America: Automotive Smart Key Market, By Application. 109

9.6.4.3.2 Rest of South America: Automotive Smart Key Market, By Technology. 110

10. Automotive smart key Market - Covid-19 Impact Analysis. 111

10.1 Overview. 111

10.2 North America: Impact Assessment of Covid-19 Pandemic. 111

10.3 Europe: Impact Assessment of Covid-19 Pandemic. 113

10.4 Asia Pacific: Impact Assessment of Covid-19 Pandemic. 114

10.5 Middle East & Africa: Impact Assessment of Covid-19 Pandemic. 115

10.6 South America Impact Assessment of Covid-19 Pandemic. 116

11. Industry Landscape. 117

11.1 Overview. 117

11.2 Market Initiative. 117

12. Company Profiles. 119

12.1 ALPHA Corporation. 119

12.1.1 Key Facts. 119

12.1.2 Business Description. 119

12.1.3 Products and Services. 119

12.1.4 Financial Overview.. 120

12.1.5 SWOT Analysis. 121

12.1.6 Key Developments. 121

12.2 Continental AG. 122

12.2.1 Key Facts. 122

12.2.2 Business Description. 122

12.2.3 Products and Services. 122

12.2.4 Financial Overview.. 123

12.2.5 SWOT Analysis. 124

12.2.6 Key Developments. 124

12.3 Denso Corporation. 125

12.3.1 Key Facts. 125

12.3.2 Business Description. 125

12.3.3 Products and Services. 125

12.3.4 Financial Overview.. 126

12.3.5 SWOT Analysis. 127

12.3.6 Key Developments. 127

12.4 Honda Lock Mfg. Co., Ltd. 128

12.4.1 Key Facts. 128

12.4.2 Business Description. 128

12.4.3 Products and Services. 128

12.4.4 SWOT Analysis. 129

12.4.5 Key Developments. 129

12.5 Hyundai Mobis. 130

12.5.1 Key Facts. 130

12.5.2 Business Description. 130

12.5.3 Products and Services. 130

12.5.4 Financial Overview.. 131

12.5.5 SWOT Analysis. 132

12.5.6 Key Developments. 132

12.6 Silca S.p. A. 133

12.6.1 Key Facts. 133

12.6.2 Business Description. 133

12.6.3 Products and Services. 133

12.6.4 SWOT Analysis. 134

12.6.5 Key Developments. 134

12.7 TOKAIRIKA,CO, LTD. 135

12.7.1 Key Facts. 135

12.7.2 Business Description. 135

12.7.3 Products and Services. 135

12.7.4 Financial Overview.. 136

12.7.5 SWOT Analysis. 136

12.7.6 Key Developments. 137

12.8 TOYOTA MOTOR CORPORATION. 138

12.8.1 Key Facts. 138

12.8.2 Business Description. 138

12.8.3 Products and Services. 138

12.8.4 Financial Overview.. 139

12.8.5 SWOT Analysis. 140

12.8.6 Key Developments. 140

12.9 Valeo. 141

12.9.1 Key Facts. 141

12.9.2 Business Description. 141

12.9.3 Products and Services. 141

12.9.4 Financial Overview.. 142

12.9.5 SWOT Analysis. 143

12.9.6 Key Developments. 143

12.10 HELLA GmbH and Co. KGaA. 144

12.10.1 Key Facts. 144

12.10.2 Business Description. 144

12.10.3 Products and Services. 144

12.10.4 Financial Overview.. 145

12.10.5 SWOT Analysis. 146

12.10.6 Key Developments. 147

13. Appendix. 148

13.1 About The Insight Partners. 148

13.2 Word Index. 148

LIST OF TABLES

Table 1. Global Automotive smart key Market Revenue and Forecast to 2028 (US$ Million) 38

Table 2. North America Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 48

Table 3. North America Automotive Smart Key Market, By Technology– Revenue and Forecast to 2028 (US$ Million) 49

Table 4. North America: Automotive Smart Key Market Revenue Share, By Country. 50

Table 5. United States Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 51

Table 6. United States Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 52

Table 7. Canada Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 53

Table 8. Canada Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 54

Table 9. Mexico Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 55

Table 10. Mexico Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 56

Table 11. Europe Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 58

Table 12. Europe Automotive Smart Key Market, By Technology– Revenue and Forecast to 2028 (US$ Million) 59

Table 13. Europe Automotive Smart Key Market, By Country – Revenue and Forecast to 2028 (US$ Million) 60

Table 14. Germany Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 61

Table 15. Germany Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 62

Table 16. France Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 63

Table 17. France Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 64

Table 18. Italy Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 65

Table 19. Italy Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 66

Table 20. UK Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 67

Table 21. UK Automotive Smart Key Market, By Technology– Revenue and Forecast to 2028 (US$ Million) 68

Table 22. Russia Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 69

Table 23. Russia Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 70

Table 24. Rest of Europe Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 71

Table 25. Rest of Europe Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 72

Table 26. Asia-Pacific Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 74

Table 27. Asia-Pacific Automotive Smart Key Market, By Technology– Revenue and Forecast to 2028 (US$ Million) 75

Table 28. Asia-Pacific Automotive Smart Key Market, By Country – Revenue and Forecast to 2028 (US$ Million) 76

Table 29. Australia Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 78

Table 30. Australia Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 78

Table 31. China Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 79

Table 32. China Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 80

Table 33. India Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 82

Table 34. India Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 82

Table 35. Japan Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 83

Table 36. Japan Automotive Smart Key Market, By Technology– Revenue and Forecast to 2028 (US$ Million) 84

Table 37. South Korea Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 85

Table 38. South Korea Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 86

Table 39. Rest of Asia-Pacific Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 87

Table 40. Rest of Asia-Pacific Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 88

Table 41. Middle East and Africa Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 90

Table 42. Middle East and Africa Automotive Smart Key Market, By Technology– Revenue and Forecast to 2028 (US$ Million) 91

Table 43. Middle East and Africa Automotive Smart Key Market, By Country – Revenue and Forecast to 2028 (US$ Million) 92

Table 44. South Africa Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 93

Table 45. South Africa Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 94

Table 46. Saudi Arabia Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 95

Table 47. Saudi Arabia Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 96

Table 48. U.A.E Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 97

Table 49. U.A.E Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 98

Table 50. Rest of Middle East and Africa Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 99

Table 51. Rest of Middle East and Africa Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 100

Table 52. South America Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 102

Table 53. South America Automotive Smart Key Market, By Technology– Revenue and Forecast to 2028 (US$ Million) 103

Table 54. SAM Automotive Smart Key Market, By Country – Revenue and Forecast to 2028 (USD Million) 104

Table 55. Brazil Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 105

Table 56. Brazil Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 106

Table 57. Argentina Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 107

Table 58. Argentina Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 108

Table 59. Rest of South America Automotive Smart Key Market, By Application– Revenue and Forecast to 2028 (US$ Million) 109

Table 60. Rest of South America Automotive Smart Key Market, By Technology – Revenue and Forecast to 2028 (US$ Million) 110

Table 61. List of Abbreviation. 148

LIST OF FIGURES

Figure 1. Automotive Smart Key Market Segmentation. 20

Figure 2. Automotive Smart Key Market Segmentation – By Geography. 21

Figure 3. Global Automotive Smart Key Market Overview. 22

Figure 4. Automotive Smart Key Market, By Application. 23

Figure 5. Automotive Smart Key Market, By Technology. 23

Figure 6. Automotive Smart Key Market, By Geography. 24

Figure 7. North America PEST Analysis. 29

Figure 8. Europe PEST Analysis. 29

Figure 9. APAC – PEST Analysis. 30

Figure 10. MEA PEST Analysis. 30

Figure 11. SAM PEST Analysis. 31

Figure 12. Automotive Smart Key Market- Ecosystem Analysis. 31

Figure 13. Automotive Smart Key Market Impact Analysis of Drivers and Restraints. 35

Figure 14. Geographic Overview of Automotive Smart Key Market 36

Figure 15. Global Automotive smart key Market Revenue Forecast and Analysis (US$ Million) 38

Figure 16. Automotive Smart Key Market Revenue Share, by Product Type (2020 and 2028) 40

Figure 17. Single Function: Automotive Smart Key Market – Revenue and Forecast to 2028 (USD Million) 41

Figure 18. Multi-Function: Automotive Smart Key Market – Revenue and Forecast to 2028 (USD Million) 42

Figure 19. Automotive Smart Key Market Revenue Share, by Application (2020 and 2028) 43

Figure 20. Remote Keyless Entry: Automotive Smart Key Market – Revenue and Forecast to 2028 (USD Million) 44

Figure 21. Passive Keyless Entry: Automotive Smart Key Market – Revenue and Forecast to 2028 (USD Million) 45

Figure 22. Global Automotive Smart Key Market Revenue Share, By Region (2020 and 2028) 46

Figure 23. North America: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 47

Figure 24. North America: Automotive Smart Key Market Revenue Share, By Application (2020 and 2028) 48

Figure 25. North America: Automotive Smart Key Market Revenue Share, By Technology (2020 and 2028) 49

Figure 26. North America: Automotive Smart Key Market Revenue Share, By Country (2020 and 2028) 50

Figure 27. United States: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 51

Figure 28. Canada: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 53

Figure 29. Mexico: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 55

Figure 30. Europe: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 57

Figure 31. Europe: Automotive Smart Key Market Revenue Share, By Application (2020 and 2028) 58

Figure 32. Europe: Automotive Smart Key Market Revenue Share, By Technology (2020 and 2028) 59

Figure 33. Europe: Automotive Smart Key Market Revenue Share, By Country (2020 and 2028) 60

Figure 34. Germany: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 61

Figure 35. France: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 63

Figure 36. Italy: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 65

Figure 37. UK: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 67

Figure 38. Russia: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 69

Figure 39. Rest of Europe: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 71

Figure 40. Asia-Pacific: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 73

Figure 41. Asia-Pacific: Automotive Smart Key Market Revenue Share, By Application (2020 and 2028) 74

Figure 42. Asia-Pacific: Automotive Smart Key Market Revenue Share, By Technology (2020 and 2028) 75

Figure 43. Asia-Pacific: Automotive Smart Key Market Revenue Share, By Country (2020 and 2028) 76

Figure 44. Australia: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 77

Figure 45. China: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 79

Figure 46. India: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 81

Figure 47. Japan: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 83

Figure 48. South Korea: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 85

Figure 49. Rest of Asia-Pacific: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 87

Figure 50. Middle East and Africa: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 89

Figure 51. Middle East and Africa: Automotive Smart Key Market Revenue Share, By Application (2020 and 2028) 90

Figure 52. Middle East and Africa: Automotive Smart Key Market Revenue Share, By Technology (2020 and 2028) 91

Figure 53. Middle East and Africa: Automotive Smart Key Market Revenue Share, By Country (2020 and 2028) 92

Figure 54. South Africa: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 93

Figure 55. Saudi Arabia: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 95

Figure 56. U.A.E: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 97

Figure 57. Rest of Middle East and Africa: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 99

Figure 58. South America: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 101

Figure 59. South America: Automotive Smart Key Market Revenue Share, By Application (2020 and 2028) 102

Figure 60. South America: Automotive Smart Key Market Revenue Share, By Technology (2020 and 2028) 103

Figure 61. South America: Automotive Smart Key Market Revenue Share, By Country (2020 and 2028) 104

Figure 62. Brazil: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 105

Figure 63. Argentina: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 107

Figure 64. Rest of South America: Automotive Smart Key Market – Revenue and Forecast to 2028 (US$ Million) 109

Figure 65. Impact of Covid-19 Pandemic in North American Country Markets. 112

Figure 66. Impact of Covid-19 Pandemic in Europe Country Markets. 113

Figure 67. Impact of Covid-19 Pandemic in Asia Pacific Country Markets. 114

Figure 68. Impact of Covid-19 Pandemic In Middle East & Africa Country Markets. 115

Figure 69. Impact of Covid-19 Pandemic in South America Country Markets. 116

The List of Companies - Automotive Smart Key Market

  1. ALPHA Corporation
  2. Continental AG
  3. Denso Corporation
  4. Honda Lock Mfg. Co., Ltd.
  5. Hyundai Mobis
  6. Silca S.p. A.
  7. TOKAIRIKA,CO, LTD.
  8. TOYOTA MOTOR CORPORATION
  9. Valeo
  10. HELLA GmbH and Co. KGaA

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Automotive Smart Key Market