Digital Car Key Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Vehicle Type ; By Technology ; By Application ; By Hardware ; By Sales Channel ; By Region

Description

Global Digital Car Key Market Size More Than Triples to Touch USD 4.4 Billion by 2029.

Global digital car key market is gaining traction because of the rise in the integration of luxury features in vehicles and the deepening penetration of wireless connectivity in vehicles.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global digital car key market size at USD 1.39 billion in 2022. During the forecast period between 2023 and 2029, the global digital car key market size is projected to grow at a robust CAGR of 18% reaching a value of USD 4.39 billion by 2029. The development and invention by manufacturers to offer more contemporary features than traditional keys, such as enhanced driver safety features, networked autos, and keyless entry, are major growth factors for the global digital car key market. It is expected that as thin, environmentally friendly materials are used more often for smart keys' internal chips and buttons, the market for digital car keys will experience new growth opportunities.

Global Digital Car Key Market - Overview:

The ability to utilize smart devices as keys is provided by the digital key function. Like a real key or key fob, a digital key may be used in the same manner. It is mostly used to lock and unlock doors. The user often has to install the automobile manufacturer's application in order to utilize a digital car key. Through a wireless network, generally NFC, Bluetooth, or Bluetooth Low Energy (BLE), the application connects to the car. The Digital Key offers far greater defense against car thefts since it makes use of more sophisticated communication technologies like UWB and BLE, neither of which are susceptible to MITM assaults.

Global Digital Car Key Market - By Technology:

Based on technology, the global digital car key market is segmented into Bluetooth, biometric, Wi-Fi, remote cloud key access, and near-field communication (NFC). The NFC segment accounts for the highest market share. The NFC technology used by the digital key initiative enables safe connections between smart gadgets and moving cars. When NFC and the digital key project are used in the automobile industry, designers have the option of including yet another practical way to start, enter, or even share access to vehicles, which plays a crucial factor in propelling its market growth.

Impact of COVID-19 on Global Digital Car Key Market

The outbreak of COVID-19 had a detrimental impact on the expansion of the global market for digital automobile keys. Lockdowns in major auto-producing nations, such as India, China, and Japan, interrupted market operations and had an immediate impact on the suppliers of digital vehicle keys. Furthermore, the cessation of research activities is expected to have a significant negative impact on the global digital car key market in the long run because the market is still emerging and is still undergoing extensive research and development.

Competitive Landscape:

Major players operating in the global digital car key market include: ALPHA Corporation, Continental AG, Denso Corporation, Heights Security, Inc., HELLA GmbH & Co. KGaA, Hyundai Mobis, Minda Corporation, Mitsubishi Electric Corporation, NXP Semiconductors, Robert Bosch GmbH, Samsung, Silca, STMicroelectronics, Telefonaktiebolaget LM Ericsson, and Valeo SA. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Digital Car Key Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Digital Car Key Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC23337

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Digital Car Key Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Rise in integration of luxury features in vehicles
  - 3.2.1.2. Increase in penetration of wireless connectivity in vehicles
- 3.2.2. Restraints
  - 3.2.2.1. A digital key is more likely to face cyber security issues
- 3.2.3. Opportunities
  - 3.2.3.1. Government subsidies & incentives provided for the production & consumption of smart digitized vehicles
- 3.2.4. Challenges
  - 3.2.4.1. Impact of COVID-19
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Digital Car Key Market Overview

4.1. Market Size & Forecast, by Value, 2019-2029
- 4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
- 4.2.1. By Vehicle Type
  - 4.2.1.1. Passenger Vehicle
  - 4.2.1.2. Commercial vehicle
- 4.2.2. By Technology
  - 4.2.2.1. Bluetooth
  - 4.2.2.2. Biometric
  - 4.2.2.3. Wi-Fi
  - 4.2.2.4. Remote Cloud Key Access
  - 4.2.2.5. Near Field Communication
- 4.2.3. By Application
  - 4.2.3.1. Single Function
  - 4.2.3.2. Multi-Function
- 4.2.4. By Hardware
  - 4.2.4.1. Remote Key Entry Devices
  - 4.2.4.2. Smartphones & Tablets
  - 4.2.4.3. Wearables
- 4.2.5. By Sales Channel
  - 4.2.5.1. OEMs
  - 4.2.5.2. Aftermarket
- 4.2.6. By Region
  - 4.2.6.1. North America
  - 4.2.6.2. Europe
  - 4.2.6.3. Asia Pacific (APAC)
  - 4.2.6.4. Latin America
  - 4.2.6.5. Middle East and Africa (MEA)

5. North America Digital Car Key Market

5.1.1. Market Size & Forecast, by Value, 2019-2029
5.1.2. By Value (USD Million)

5.2. Market Share & Forecast
- 5.2.1. By Vehicle Type
- 5.2.2. By Technology
- 5.2.3. By Application
- 5.2.4. By Hardware
- 5.2.5. By Sales Channel
- 5.2.6. By Country
  - 5.2.6.1. United States
  - 5.2.6.1.1. By Vehicle Type
  - 5.2.6.1.2. By Technology
  - 5.2.6.1.3. By Application
  - 5.2.6.1.4. By Hardware
  - 5.2.6.1.5. By Sales Channel
  - 5.2.6.2. Canada
  - 5.2.6.2.1. By Vehicle Type
  - 5.2.6.2.2. By Technology
  - 5.2.6.2.3. By Application
  - 5.2.6.2.4. By Hardware
  - 5.2.6.2.5. By Sales Channel

6. Europe Digital Car Key Market

6.1. Market Size & Forecast, by Value, 2019-2029
- 6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
- 6.2.1. By Vehicle Type
- 6.2.2. By Technology
- 6.2.3. By Application
- 6.2.4. By Hardware
- 6.2.5. By Sales Channel
- 6.2.6. By Country
  - 6.2.6.1. Germany
  - 6.2.6.1.1. By Vehicle Type
  - 6.2.6.1.2. By Technology
  - 6.2.6.1.3. By Application
  - 6.2.6.1.4. By Hardware
  - 6.2.6.1.5. By Sales Channel
  - 6.2.6.2. United Kingdom
  - 6.2.6.2.1. By Vehicle Type
  - 6.2.6.2.2. By Technology
  - 6.2.6.2.3. By Application
  - 6.2.6.2.4. By Hardware
  - 6.2.6.2.5. By Sales Channel
  - 6.2.6.3. Italy
  - 6.2.6.3.1. By Vehicle Type
  - 6.2.6.3.2. By Technology
  - 6.2.6.3.3. By Application
  - 6.2.6.3.4. By Hardware
  - 6.2.6.3.5. By Sales Channel
  - 6.2.6.4. France
  - 6.2.6.4.1. By Vehicle Type
  - 6.2.6.4.2. By Technology
  - 6.2.6.4.3. By Application
  - 6.2.6.4.4. By Hardware
  - 6.2.6.4.5. By Sales Channel
  - 6.2.6.5. Spain
  - 6.2.6.5.1. By Vehicle Type
  - 6.2.6.5.2. By Technology
  - 6.2.6.5.3. By Application
  - 6.2.6.5.4. By Hardware
  - 6.2.6.5.5. By Sales Channel
  - 6.2.6.6. The Netherlands
  - 6.2.6.6.1. By Vehicle Type
  - 6.2.6.6.2. By Technology
  - 6.2.6.6.3. By Application
  - 6.2.6.6.4. By Hardware
  - 6.2.6.6.5. By Sales Channel
  - 6.2.6.7. Rest of Europe
  - 6.2.6.7.1. By Vehicle Type
  - 6.2.6.7.2. By Technology
  - 6.2.6.7.3. By Application
  - 6.2.6.7.4. By Hardware
  - 6.2.6.7.5. By Sales Channel

7. Asia Pacific Digital Car Key Market

7.1. Market Size & Forecast, by Value, 2019-2029
- 7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
- 7.2.1. By Vehicle Type
- 7.2.2. By Technology
- 7.2.3. By Application
- 7.2.4. By Hardware
- 7.2.5. By Sales Channel
- 7.2.6. By Country
  - 7.2.6.1. China
  - 7.2.6.1.1. By Vehicle Type
  - 7.2.6.1.2. By Technology
  - 7.2.6.1.3. By Application
  - 7.2.6.1.4. By Hardware
  - 7.2.6.1.5. By Sales Channel
  - 7.2.6.2. India
  - 7.2.6.2.1. By Vehicle Type
  - 7.2.6.2.2. By Technology
  - 7.2.6.2.3. By Application
  - 7.2.6.2.4. By Hardware
  - 7.2.6.2.5. By Sales Channel
  - 7.2.6.3. Japan
  - 7.2.6.3.1. By Vehicle Type
  - 7.2.6.3.2. By Technology
  - 7.2.6.3.3. By Application
  - 7.2.6.3.4. By Hardware
  - 7.2.6.3.5. By Sales Channel
  - 7.2.6.4. South Korea
  - 7.2.6.4.1. By Vehicle Type
  - 7.2.6.4.2. By Technology
  - 7.2.6.4.3. By Application
  - 7.2.6.4.4. By Hardware
  - 7.2.6.4.5. By Sales Channel
  - 7.2.6.5. Australia & New Zealand
  - 7.2.6.5.1. By Vehicle Type
  - 7.2.6.5.2. By Technology
  - 7.2.6.5.3. By Application
  - 7.2.6.5.4. By Hardware
  - 7.2.6.5.5. By Sales Channel
  - 7.2.6.6. Indonesia
  - 7.2.6.6.1. By Vehicle Type
  - 7.2.6.6.2. By Technology
  - 7.2.6.6.3. By Application
  - 7.2.6.6.4. By Hardware
  - 7.2.6.6.5. By Sales Channel
  - 7.2.6.7. Malaysia
  - 7.2.6.7.1. By Vehicle Type
  - 7.2.6.7.2. By Technology
  - 7.2.6.7.3. By Application
  - 7.2.6.7.4. By Hardware
  - 7.2.6.7.5. By Sales Channel
  - 7.2.6.8. Singapore
  - 7.2.6.8.1. By Vehicle Type
  - 7.2.6.8.2. By Technology
  - 7.2.6.8.3. By Application
  - 7.2.6.8.4. By Hardware
  - 7.2.6.8.5. By Sales Channel
  - 7.2.6.9. Philippines
  - 7.2.6.9.1. By Vehicle Type
  - 7.2.6.9.2. By Technology
  - 7.2.6.9.3. By Application
  - 7.2.6.9.4. By Hardware
  - 7.2.6.9.5. By Sales Channel
  - 7.2.6.10. Vietnam
  - 7.2.6.10.1. By Vehicle Type
  - 7.2.6.10.2. By Technology
  - 7.2.6.10.3. By Application
  - 7.2.6.10.4. By Hardware
  - 7.2.6.10.5. By Sales Channel
  - 7.2.6.11. Rest of Asia Pacific
  - 7.2.6.11.1. By Vehicle Type
  - 7.2.6.11.2. By Technology
  - 7.2.6.11.3. By Application
  - 7.2.6.11.4. By Hardware
  - 7.2.6.11.5. By Sales Channel

8. Latin America Digital Car Key Market

8.1. Market Size & Forecast, by Value, 2019-2029
- 8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
- 8.2.1. By Vehicle Type
- 8.2.2. By Technology
- 8.2.3. By Application
- 8.2.4. By Hardware
- 8.2.5. By Sales Channel
- 8.2.6. By Country
  - 8.2.6.1. Brazil
  - 8.2.6.1.1. By Vehicle Type
  - 8.2.6.1.2. By Technology
  - 8.2.6.1.3. By Application
  - 8.2.6.1.4. By Hardware
  - 8.2.6.1.5. By Sales Channel
  - 8.2.6.2. Mexico
  - 8.2.6.2.1. By Vehicle Type
  - 8.2.6.2.2. By Technology
  - 8.2.6.2.3. By Application By Hardware
  - 8.2.6.2.4. By Sales Channel
  - 8.2.6.3. Argentina
  - 8.2.6.3.1. By Vehicle Type
  - 8.2.6.3.2. By Technology
  - 8.2.6.3.3. By Application
  - 8.2.6.3.4. By Hardware
  - 8.2.6.3.5. By Sales Channel
  - 8.2.6.4. Peru
  - 8.2.6.4.1. By Vehicle Type
  - 8.2.6.4.2. By Technology
  - 8.2.6.4.3. By Application
  - 8.2.6.4.4. By Hardware
  - 8.2.6.4.5. By Sales Channel
  - 8.2.6.5. Rest of Latin America
  - 8.2.6.5.1. By Vehicle Type
  - 8.2.6.5.2. By Technology
  - 8.2.6.5.3. By Application
  - 8.2.6.5.4. By Hardware
  - 8.2.6.5.5. By Sales Channel

9. Middle East & Africa Digital Car Key Market

9.1. Market Size & Forecast, by Value, 2019-2029
- 9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
- 9.2.1. By Vehicle Type
- 9.2.2. By Technology
- 9.2.3. By Application
- 9.2.4. By Hardware
- 9.2.5. By Sales Channel
- 9.2.6. By Country
  - 9.2.6.1. Saudi Arabia
  - 9.2.6.1.1. By Vehicle Type
  - 9.2.6.1.2. By Technology
  - 9.2.6.1.3. By Application
  - 9.2.6.1.4. By Hardware
  - 9.2.6.1.5. By Sales Channel
  - 9.2.6.2. UAE
  - 9.2.6.2.1. By Vehicle Type
  - 9.2.6.2.2. By Technology
  - 9.2.6.2.3. By Application
  - 9.2.6.2.4. By Hardware
  - 9.2.6.2.5. By Sales Channel
  - 9.2.6.3. Qatar
  - 9.2.6.3.1. By Vehicle Type
  - 9.2.6.3.2. By Technology
  - 9.2.6.3.3. By Application
  - 9.2.6.3.4. By Hardware
  - 9.2.6.3.5. By Sales Channel
  - 9.2.6.4. Kuwait
  - 9.2.6.4.1. By Vehicle Type
  - 9.2.6.4.2. By Technology
  - 9.2.6.4.3. By Application By Hardware
  - 9.2.6.4.4. By Sales Channel
  - 9.2.6.5. South Africa
  - 9.2.6.5.1. By Vehicle Type
  - 9.2.6.5.2. By Technology
  - 9.2.6.5.3. By Application
  - 9.2.6.5.4. By Hardware
  - 9.2.6.5.5. By Sales Channel
  - 9.2.6.6. Nigeria
  - 9.2.6.6.1. By Vehicle Type
  - 9.2.6.6.2. By Technology
  - 9.2.6.6.3. By Application
  - 9.2.6.6.4. By Hardware
  - 9.2.6.6.5. By Sales Channel
  - 9.2.6.7. Algeria
  - 9.2.6.7.1. By Vehicle Type
  - 9.2.6.7.2. By Technology
  - 9.2.6.7.3. By Application
  - 9.2.6.7.4. By Hardware
  - 9.2.6.7.5. By Sales Channel
  - 9.2.6.8. Rest of MEA
  - 9.2.6.8.1. By Vehicle Type
  - 9.2.6.8.2. By Technology
  - 9.2.6.8.3. By Application
  - 9.2.6.8.4. By Hardware
  - 9.2.6.8.5. By Sales Channel

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. Global Digital Car Key Company Market Share Analysis, 2022
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)

11. Impact of Covid-19 on Global Digital Car Key Market

12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)

12.1. ALPHA Corporation
12.2. Continental AG
12.3. Denso Corporation
12.4. Heights Security, Inc.
12.5. HELLA GmbH & Co. KGaA
12.6. Hyundai Mobis
12.7. Minda Corporation
12.8. Mitsubishi Electric Corporation
12.9. NXP Semiconductors
12.10. Robert Bosch GmbH
12.11. Samsung
12.12. Silca
12.13. STMicroelectronics
12.14. Telefonaktiebolaget LM Ericsson
12.15. Valeo SA
12.16. Other Prominent Players

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations