Call for Utmost Security Amidst precision to drive the Automotive digital key Market
The vehicle’s keys, in the last few years, are experiencing turbulence due to technological advancements. One of these innovations is the digital key, which, as the name suggests, does aid the owner of the vehicle to share security data with the vehicle via a smartphone application. In other words, the digital key comes across as technology that lets smartphones start as well as stop the engine of the vehicle and also unlock/lock the doors using Bluetooth technology or NFC (Near Field Communication) technology. Various automobiles are now a part of IoT due to quicker mobile connectivity, placement of digital sensors, and compactness and innovation in the vehicles. RFID technology is being used in abundance herein.
Numerous OEMs have been committed to raising the vehicles’ production through the advanced feature as a response to the demand from end consumers. Persistence Market Research has walked through these facts with subsequent steps to be taken in its latest market study entitled “Automotive digital key Market”.
Automotive digital key Market Dynamics
The global automotive digital key market, by product, spans smart key fobs, key cards, and smartwatches. By vehicle, it’s PC (passenger car), light commercial vehicles, heavy commercial vehicles, and heavy electric vehicles. By sales channel, it’s aftermarket and OEMs. Persistence Market Research has enlisted these facts with future perspectives in its latest market study entitled “Automotive digital key Market”.
Region-wise Analysis
North America and Europe are at the matured stage of the automotive digital key market and the status is expected to remain the same even going forward. However, the Asia-Pacific is expected to grow at the fastest rate in the automotive digital key market with countries like South Korea, Japan, India, and China being the largest contributors to revenue. Persistence Market Research has etched these findings with insights in its latest market study entitled “Automotive digital key Market”.
Competitive Key
Persistence Market Research has profiled the key participants in the automotive digital key market as Infineon Technologies AG, Telefonaktiebolaget LM Ericsson, Continental AG, Denso Corporation, Tokai Rika Co. Ltd., ALPHA Corporation, Garmin Ltd., Firstech, LLC, GARIN System Co., Ltd., STMicroelectronics, CENTURION KEY, and Silca S.p.A. These players are into various modes of expansion for strengthening their foothold all across the automotive digital key market. They include mergers, acquisitions, partnerships, joint ventures, and new product launches.
The Road Ahead
The global automotive digital key market is slated to move on a persistent note in the next 10 years – Persistence Market Research
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