Automotive Digital Key Market Expected to Grow USD 640.39 Million | Standardizing the Use of Smart Devices as Keys to Drive Market Growth | Technavio
- 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.
- Blanket: Main Drivers, Trends and Challenges; Product information and news; Value chain analysis; Parent market analysis; Vendor landscape.
- segments: Application (personal use and car sharing and car rental) and geography (Europe, North AmericaACPA, South Americaand the Middle East and Africa).
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According to recent Technavio market research, the automotive digital key market is expected to grow by USD 640.39 million from 2021 to 2026, at an accelerated CAGR of 6.25%. The report provides a detailed analysis of drivers and opportunities, top winning strategies, competitive scenario, future market trends, market size and estimates, and major investment pockets.
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Top 3 Vendor Analysis of Automotive Digital Key Market
Automotive Digital Key market is fragmented and the vendors are deploying growth strategies such as focusing on delivering product through multiple distribution channels to compete in the market. Companies use 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 selling physical products, selling digital products, optimizing B2B sales.
Gi-de.com: Fenix offers an industry-aligned execution framework that helps organizations rewire their core DNA to achieve digital transformation goals.
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Automotive Digital Key Market 2022-2026: Segmentation
The Automotive Digital Key Market is segmented as follows:
- Personal use
- Car sharing and car rental
- North America
- South America
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Latest drivers and trends driving the market-
- Automotive Digital Key Market Key Driver:
- Standardization for using smart devices as keys:
- The need to standardize technical standards and the security offered when accessing vehicles via smart devices is driving groups like the Car Connectivity Consortium (CCC) to strive for security and standardization. The CCC has made this effort using existing standard technologies such as the Global Platform, the Special Group Mobile Association (GSMA), Bluetooth and NFC.
- Key Automotive Digital Key Market Trend:
- the use of smart wearable devices as digital keys:
- Using a smartphone to access a digital key is still in its infancy. However, some manufacturers have started to include digital key accessibility in smart wearable devices. For example, Jaguar Land Rover introduced the Activity Key, a new smart wearable. Also, Apple Inc. introduced digital car keys in June 2020, allowing iPhone or Apple Watch users to unlock cars wirelessly. Over the next few years, the trend of adopting smart wearable devices as digital keys would positively benefit the global automotive digital key market.
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Automotive Digital Key Market Scope
Year of reference
Growth momentum and CAGR
Accelerate at a CAGR of 6.25%
Market Growth 2022-2026
Annual growth (%)
Europe, North America, APAC, South America, Middle East and Africa
Successful market contribution
Europe at 46%
Main consumer countries
United States, Canada, China, Germany, United Kingdom and Sweden
Leading Companies, Competitive Strategies, Consumer Engagement Reach
Profiled Key Companies
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.
Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID-19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis market for the forecast period
If our report does not include the data you are looking for, you can contact our analysts and customize the segments.
Five forces analysis
- Summary of the five forces
- The bargaining power of buyers
- Bargaining power of suppliers
- The threat of new entrants
- The threat of substitutes
- Threat of rivalry
- Market state
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
- 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
- United States – Market size and forecast 2021-2026
- Germany – Market size and forecast 2021-2026
- United Kingdom – 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 factors
- Market challenges
- Impact of drivers and challenges
- Market trends
- Supplier Landscape
- Landscape disturbance
- Industrial risks
- Suppliers Covered
- Positioning on the supplier market
- BMW AG
- Continental AG
- Daimler S.A.
- DENSO Corp.
- Hyundai Motor Co.
- Robert Bosch GmbH
- Samsung Electronics Co.Ltd.
- Tesla Inc.
- Valeo SA
- Volkswagen AG
- Report scope
- Checklist of inclusions and exclusions
- Currency conversion rates for the US dollar
- Research methodology
- Abreviations list
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