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Automotive Smart Key Fob Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027

Format: PDF | Pages: 267 | Report ID: MRS1148


Report Description

The global Automotive Smart Key Fob market size is estimated at USD 4,000.5 million in 2020, expanding at a CAGR 3.8% from 2021-2027 to reach 4,807.4 million USD in 2027.

Market Dynamics

A smart key also called an intelligent key, is a key that contains information or digital capabilities that allow it to perform more functions than simply opening a digital or physical lock system. It is a component of a computerized system that employs microchips and sensors to unlock the doors and start the car without the use of a key. The smart key is a component of the key fob supplied by the manufacturer with the car. Even if the key fob is in the driver's pocket, it may still unlock, lock, or start the vehicle via antennae in the bodywork and the wireless pulse generators in the key.

The convenience and safety associated with enhanced vehicle access options are one of the primary aspects of key growth in the automotive smart key fob market. Because of its high penetration level in vehicles, particularly passenger vehicles, the automotive smart key fob market is expanding in tandem with increasing automobile sales volume. Because of the benefits associated with the automobile smart key fob, major automakers are upgrading their cars with modern key systems, which is boosting the smart key fob market. Automotive smart key fobs allow for hands-free opening and shutting of doors, trunks, and windows, as well as finding the car in a parking lot. The smart key fob increases the vehicle's security against theft. The immobilizer system of the car identifies and confirms the code supplied by the smart key fob to start the engine. The majority of smart key fob-based car access systems include computer-encrypted coding and microchips, which increases the vehicle's security quotient. These elements serve as market facilitators.

Regional Insights

With the rising purchasing power parity, greater involvement of the North American market's main automotive businesses, and advantageous technical infrastructure, North America is expected to dominate the vehicle keyless fob or smart key fob market. Furthermore, the United States and Canada make for a sizable portion of the region's market. Furthermore, increased internet penetration and a rise in the number of smartphone owners boost the automobile industry, ultimately fueling the North American market.

Segment Insights

The market for Automotive Smart Key Fobs is segmented into three segments: Type, Applications, and region. One of the factors driving the rise of the automotive smart key fob market share is the increasing penetration rate of sophisticated functions in entry-level vehicles. The global automobile sector is experiencing a variety of market dynamics in various geographic locations. Consumers' evolving requirements and expectations in the global automobile market, particularly for entry-level passenger vehicles, are defined by economic factors, employment prospects, infrastructure, and road networks. The competition in the compact and small car segment (entry-segment vehicles) has grown significantly.

Competitive Insights

Major market players are constantly involved in various strategies such as mergers, acquisitions, partnerships, and others. For example, in 2020, NXP Semiconductors has introduced a new smart key solution, which allows cell phones, smartwatches, key fobs, and fitness trackers to open and start automobiles. The new method is based on near-field communications (NFC) technology.

The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Forklift Truck by type, application, and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):

  • ZF Friedrichshafen AG
  • Valeo SA
  • Toyota Motor Corporation
  • Tokai Rika Co., Ltd.
  • Panasonic Corporation
  • NXP Semiconductors
  • Mitsubishi Electric Corp.
  • Marelli Corporation
  • Lear Corporation
  • Hyundai Mobis co.,Ltd
  • HELLA GmbH & Co. KGaA.
  • Denso Corporation
  • Continental AG
  • Car Keys Express
  • ALPS ALPINE CO., LTD.

Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Passive Keyless Entry System (PKES)
  • Remote Keyless Entry System (RKES)

Application Coverage (Market Size & Forecast, Main Consumer Analysis etc.):

  • Entry-Segment Vehicles
  • Mid-Segment Vehicles
  • Luxury-Segment Vehicles

Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)

Frequently Asked Questions

The global Automotive Smart Key Fob market size is estimated at USD 4,000.5 million in 2020, expanding at a CAGR 3.8% from 2021-2027 to reach 4,807.4 million USD in 2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global Automotive Smart Key Fob market size is expanding at a CAGR 3.8% from 2021-2027 to reach 4,807.4 million USD in 2027.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
Major market players are constantly involved in various strategies such as mergers, acquisitions, partnerships, and others. For example, in 2020, NXP Semiconductors has introduced a new smart key solution, which allows cell phones, smartwatches, key fobs, and fitness trackers to open and start automobiles. The new method is based on near-field communications (NFC) technology.

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