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Automotive Smart Keys Market Segmented By Application such as Single Function based automotive smart keys, Multi-Function based automotive smart keys with Technology such as Security Technology, Infra-red Sensor Technology, Capacitive Sensor Technology, Others
Automotive smart keys are a critical features for the automotive vehicle’s safety and security as well as to enable ignition of the engine. Automotive smart keys have become backbone for the vehicle model design owing to shifting people’s lifestyle towards luxurious vehicles coupled with rising disposal is also projected to shape up the market.
With the help of automotive smart keys driver can operate various operation of vehicle without physically touch, such as vehicle doors locking or unlocking, control of windows, mirrors, radio pre-sets, moon roof and seat adjustment.
Before 2010, transponder keys was used, but increased number of cases of cyber hacking or externally controlling the key’s signal, transponder key has vanished. In between 2010 and 2011, remote head type key were used for operating the vehicle’s necessary operations.
Over the last five years, the automotive smart keys are using owing to its tremendous features for instance vehicle doors locking or unlocking, start or stop of engine and others. By the use of automotive smart keys driver is not required to insert a metal key into the tumbler and rotate the key in an ignition switch cylinder.
For automotive smart keys push button has become common features for starting or stopping of vehicle. In terms of mechanism, a small chip installed inside the key that send a signal to a signal amplifier and in turn to the Electronic Control Unit (ECU), which then disengages the immobilizer system and allows engine to start.
Furthermore, rising appetite of luxury vehicle in low cost which is technologically advance and also equipped with trending automotive technology is projected to give positive potential to automotive smart keys in developing countries. In terms of growth, the global automotive smart keys market is anticipated to grow with addressable pace across the globe owing increasing trend of remote control vehicle’s operation devices.
Increasing technological advancement for vehicle’s safety and security technology such as automotive telematics system, advanced driving assistance systems (ADAS) and others. For synchronization of these technology a remote operated technology is required which can controlled vehicle’s necessary function via wireless remote are projected to enrich the demand for automotive smart keys over the forecast period.
Moreover, phase in of various types of vehicles such as hybrid vehicles and electric vehicle which are equipped with advance safety and security features is also projected to ramp up the demand for automotive smart keys over the slated time period. Automotive smart keys market is projected to gaining significant traction across end users and technologies such as Transmission, Infra-Red Sensor and Others.
On the flip side, data security and safety is projected to hinder the growth of the global automotive smart key market across the globe by the end of 2028. However, high initial cost, owing to smart key is as a wireless technology and counterfeit product comes from China may decline the growth trend of the global automotive smart keys market during the forecast period.
Renowned automotive smart keys manufacturer are focused towards to design and develop a compact and attractive automotive smart keys which could be used as multifunction for instance South Korea’s largest automaker Hyundai Motor Co. has launched an “H-band” type smart key for start or stop of vehicle.
Luxury car manufacturer such as Mercedes Benz (Daimler), BMW, Audi, Lexus (Toyota), Jaguar Land Rover (Tata), Volvo (Geely), Porsche (VW) and Bentely (VW) are highly shifted towards automotive smart keys owing to its phenomenal features and they are using light weight and eco-friendly material for manufacturing of smart key’s chip and buttons.
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Asia Pacific is projected to be dominate in the global automotive smart keys market owing to rising automotive vehicle production and increasing installation of safety features in commercial vehicles and passenger vehicles. In Asia Pacific region, the embryonic stage and potential for automotive smart keys is projected to grow with addressable pace.
North America region is projected to be second largest market for the automotive smart keys due to increasing adoption of smart technology for automotive vehicles during the forecast period.
Europe is projected to account for relatively less contribution in the automotive smart keys market due to increasing hacking and cybercrime. Since, automotive smart keys are consider as wireless device. Therefore, the chance for vehicle theft or hacking could be high. However, Germany is projected to account for noteworthy value share in the Europe automotive smart keys market owing to Germany is considered as a hub for automotive industry and coupled with rising production of luxury car and passenger car.
Middle East and Africa region is projected to grow with nethermost growth rate and accounted for minimal value share in the global automotive smart keys market over the slated time period owing to no production facility for automotive vehicles in the region. However, North African and GCC countries are projected to grow with noteworthy growth rate as compared to other countries in the region.
Leading players in the global Automotive Smart Keys market are following:
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