Automotive Digital Key Market to Grow by USD 640.39 Mn| The standardization for using smart devices as keys to boost market growth| Technavio

NEW YORK, Feb. 25, 2022 /PRNewswire/ —


Attractive Opportunities in Automotive Digital Key Market by Application and Geography - Forecast and Analysis 2021-2025

Automotive Digital Key Market Facts at a Glance-

  • Total Pages: 120
  • Companies: 10+ – Including BMW AG, Continental AG, Daimler AG, Ford Motor Co., General Motors Co., Giesecke + Devrient GmbH. HELLA GmbH and Co. KG, Hyundai Motor Co., Infineon Technologies AG, Robert Bosch GmbH, RoboArt Inc., Samsung Electronics Co. Ltd., STMicroelectronics NV, Telefonaktiebolaget LM Ericsson, Tesla Inc., Toyota Motor Corp., Valeo SA, Volkswagen AG, Volvo Car Corp., Apple Inc., DENSO Corp. among others.
  • Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape.
  • Segments: Application (personal use and car-sharing and car rental) and geography (Europe, North America, APAC, South America, and the Middle East and Africa).

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According to the recent market study by Technavio, the Automotive Digital Key Market is expected to increase by USD 640.39 million from 2021 to 2026, at an accelerated CAGR of 6.25%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

Download FREE Sample: for more additional information about the key regions in Europe

Top 3 Vendor Analysis of Automotive Digital Key Market

The Automotive Digital Key Market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market. Companies are employing mergers, expansions, acquisitions, and partnerships, as well as new product development, as strategic tactics to increase their brand visibility.

Daimler.com: Offers a wide range of products such as payment solution, subscription management, APIs and integrations. 

Ford.com: Offers a wide range of solutions such as sell physical products, sell digital products, optimize B2B sales.

Gi-de.com: Offers Fenix that is an industry-aligned execution framework, that helps organizations rewire their core DNA to realize digital transformation objectives.

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Automotive Digital Key Market 2022-2026: Segmentation

Automotive digital key market is segmented as below:

  • Application
    • Personal Use
    • Car Sharing And Car Rental
  • Geography
    • Europe
    • North America
    • APAC
    • South America
    • MEA

Download our FREE sample report for more key highlights on the regional market segmentation of the above-mentioned country.

Latest Drivers & Trends Driving the Market-

  • Automotive Digital Key Market Key Driver:
    • The standardization for using smart devices as keys:
      • The necessity for standardizing technical standards and the security provided when accessing vehicles via smart devices are motivating groups like the Car Connectivity Consortium (CCC) to strive toward security and standardization. The CCC made the effort using existing standard technologies such as the global platform, the Groupe Speciale Mobile Association (GSMA), Bluetooth, and NFC.
  • Automotive Digital Key Market Key Trend:
    • the use of smart wearables as digital keys:
      • The use of a smartphone to access a digital key is still in its early stages of development. However, some manufacturers have begun to include digital key accessibility in smart wearables. For example, Jaguar Land Rover has introduced the Activity key, a new smart wearable. Furthermore, Apple Inc. introduced digital car keys in June 2020, allowing iPhone or Apple Watch users to unlock cars wirelessly. In the next years, the trend of adopting smart wearables as digital keys would positively benefit the worldwide automotive digital key market

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

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Automotive Digital Key Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.25%

Market growth 2022-2026

$ 640.39 million

Market structure

Fragmented

YoY growth (%)

6.02

Regional analysis

Europe, North America, APAC, South America, and the Middle East and Africa

Performing market contribution

Europe at 46%

Key consumer countries

US, Canada, China, Germany, UK, and Sweden

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

BMW AG, Continental AG, Daimler AG, Ford Motor Co., General Motors Co., Giesecke + Devrient GmbH, HELLA GmbH and Co. KG, Hyundai Motor Co., Infineon Technologies AG, Robert Bosch GmbH, RoboArt Inc., Samsung Electronics Co. Ltd., STMicroelectronics NV, Telefonaktiebolaget LM Ericsson, Tesla Inc., Toyota Motor Corp., Valeo SA, Volkswagen AG, Volvo Car Corp., Apple Inc., and DENSO Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

Executive Summary

Market Landscape

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2021
  • Market outlook: Forecast for 2021-2026

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Personal use – Market size and forecast 2021-2026
  • Car sharing and car rental – Market size and forecast 2021-2026
  • Market opportunity by Application

Customer Landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe – Market size and forecast 2021-2026
  • North America – Market size and forecast 2021-2026
  • APAC – Market size and forecast 2021-2026
  • South America – Market size and forecast 2021-2026
  • Middle East and Africa – Market size and forecast 2021-2026
  • US – Market size and forecast 2021-2026
  • Germany – Market size and forecast 2021-2026
  • UK – Market size and forecast 2021-2026
  • Sweden – Market size and forecast 2021-2026
  • Canada – Market size and forecast 2021-2026
  • China – Market size and forecast 2021-2026
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Market challenges
  • Impact of drivers and challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption
  • Industry risks

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • BMW AG
  • Continental AG
  • Daimler AG
  • DENSO Corp.
  • Hyundai Motor Co.
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.
  • Tesla Inc.
  • Valeo SA
  • Volkswagen AG

Appendix

  • Scope of the report
  • Inclusions and exclusions checklist
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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