United States Automotive Smart Keys Market Size, Share, and COVID-19 Impact Analysis, By Technology (Remote Keyless Entry, Passive Keyless Entry), By Application (Single Function, Multi-function), and United States Automotive Smart Keys Market Insights Forecasts to 2033

Industry: Automotive & Transportation

RELEASE DATE Dec 2023
REPORT ID SI3354
PAGES 200
REPORT FORMAT PathSoft

United States Automotive Smart Keys Market Size Insights Forecasts to 2033

  • The Market Size is Growing at a CAGR of 17.56% from 2023 to 2033.
  • The United States Automotive Smart Keys Market Size is Expected to Hold a Significant Share by 2033.

United States Automotive Smart Keys Market

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The United States Automotive Smart Keys Market Size is Expected to Hold a Significant Share by 2033, at a CAGR of 17.56% during the forecast period 2023 to 2033.

 

Market Overview

Automotive keys, which offer additional features like digitalization, are another name for smart keys. It has sensors and a microchip embedded in it to automatically lock and unlock doors and start and stop the car without a manual key. Depending on the car model, the automotive key is available in standard equipment format. Manufacturers are working on developing automotive digital keys with more sophisticated features than standard keys, like connected cars, keyless entry, and enhanced driver safety features. The automotive industry is rapidly expanding as a result of digitalization. Furthermore, Users are frequently concerned about security and power in the event that their smartphone is stolen or runs out of battery power. In order to address user security concerns, companies in the automotive digital key market are working with smartphone companies to develop over-the-air software. To get around the inconveniences of physically handling standard keys and wallets, businesses are innovating with activity keys. Moreover, increased technological developments in vehicle security and safety, along with other technologies like automotive telematics systems and experienced driving assistance systems, are anticipated to drive the United States market during the forecast period. Growing developments in automotive telematics, advanced driver assistance systems (ADAS), and other automotive safety and security technologies.

 

Report Coverage

This research report categorizes the market for United States automotive smart keys market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States automotive smart keys market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the United States automotive smart keys market.

United States Automotive Smart Keys Market Report Coverage

Report CoverageDetails
Base Year:2023
Forecast Period:2022 – 2032
Forecast Period 2022 – 2032 CAGR:17.56%
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:115
Segments covered:By Technology, By Application, and COVID-19 Impact Analysis,
Companies Covered: Huf Hulsbeck & Furst GmbH & Co. KG, Continental AG, ZF Friedrichshafen AG, HELLA GmbH & Co. KGaA, Hyundai Mobis, Silca Group, Tokai Rika Co., Ltd, Denso Corporation, ALPHA Corporation, Valeo SA, Robert Bosch Gmbh, Others, and
Pitfalls & Challenges:COVID-19 Empact, Challenges, Future, Growth, & Analysis

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Driving Factors

Increasing demand for luxury cars with advanced technology and equipped with automotive technology is expected to drive the market over the forecast period. Additionally, new hybrid and electric vehicles with cutting-edge security and safety features are hitting the market, driving up demand in the important automotive sector. Furthermore, since the smart key systems rely on wireless communication and digital signals, they are vulnerable to hacking and unauthorized access. Smart key system security is critical since any security lapse can result in vehicle theft or unauthorized access to personal information. Building confidence and trust in technology also requires strong security measures.

 

Restraining Factors

Automotive smart key systems frequently include advanced features and technologies such as keyless entry, remote start, and keyless ignition. The smart key system's overall cost increases with the addition of these features. Widespread adoption of smart key technology may be hampered by its high cost, especially in price-sensitive market segments.

 

Market Segment

  • In 2023, the passive keyless entry segment accounted for the largest revenue share over the forecast period.

Based on the technology, the United States automotive smart keys market is segmented into remote keyless entry and passive keyless entry. Among these, the passive keyless entry segment has the largest revenue share over the forecast period. One advantage of passive entry systems is that they usually include Keyless Ignition, which allows consumer to start and drive vehicle without ever removing the key fob from wallet.

 

  • In 2023, the multi-function segment accounted for the largest revenue share over the forecast period.

Based on the application, the United States automotive smart keys market is segmented into single function, and multi-function. Among these, the multi-function segment has the largest revenue share over the forecast period. Smart key systems capabilities are expanded by multi-function applications, providing users with a more comprehensive and convenient experience. These apps may offer functions like auto climate control activation, vehicle locator, remote start, trunk release, and customized settings. Smart key systems increase user satisfaction and convenience by offering extra features, which makes them a desirable option for car buyers.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States automotive smart keys market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Huf Hulsbeck & Furst GmbH & Co. KG
  • Continental AG
  • ZF Friedrichshafen AG
  • HELLA GmbH & Co. KGaA
  • Hyundai Mobis
  • Silca Group
  • Tokai Rika Co., Ltd
  • Denso Corporation
  • ALPHA Corporation
  • Valeo SA
  • Robert Bosch Gmbh
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Development

  • On April 2023, Car Keys Express, a company that deals with automotive key replacements in the United States, has announced the release of the Universal Smart Key. It is anticipated that the product will start shipping in the 2023 fourth quarter.

 

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the United States automotive smart keys market based on the below-mentioned segments:

 

United States Automotive Smart Keys Market, By Technology

  • Remote Keyless Entry
  • Passive Keyless Entry

 

United States Automotive Smart Keys Market, By Application

  • Single Function
  • Multi-function

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