Automotive Digital Key Market to Grow by USD 640.39 Mn| The standardization for using smart devices as keys to boost market growth| Technavio

NEW YORK, Feb. 25, 2022 /PRNewswire/ —

Automotive Digital Key Market Facts at a Glance-

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.
Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape.
Segments: Application (personal use and car-sharing and car rental) and geography (Europe, North America, APAC, South America, and the Middle East and Africa).

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According to the recent market study by Technavio, the Automotive Digital Key Market is expected to increase by USD 640.39 million from 2021 to 2026, at an accelerated CAGR of 6.25%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

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Top 3 Vendor Analysis of Automotive Digital Key Market

The Automotive Digital Key Market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market. Companies are employing 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 sell physical products, sell digital products, optimize B2B sales.

Gi-de.com: Offers Fenix that is an industry-aligned execution framework, that helps organizations rewire their core DNA to realize digital transformation objectives.

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Automotive Digital Key Market 2022-2026: Segmentation

Automotive digital key market is segmented as below:

Application

Personal Use
Car Sharing And Car Rental

Geography

Europe
North America
APAC
South America
MEA

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Latest Drivers & Trends Driving the Market-

Automotive Digital Key Market Key Driver:

The standardization for using smart devices as keys:

The necessity for standardizing technical standards and the security provided when accessing vehicles via smart devices are motivating groups like the Car Connectivity Consortium (CCC) to strive toward security and standardization. The CCC made the effort using existing standard technologies such as the global platform, the Groupe Speciale Mobile Association (GSMA), Bluetooth, and NFC.

Automotive Digital Key Market Key Trend:

the use of smart wearables as digital keys:

The use of a smartphone to access a digital key is still in its early stages of development. However, some manufacturers have begun to include digital key accessibility in smart wearables. For example, Jaguar Land Rover has introduced the Activity key, a new smart wearable. Furthermore, Apple Inc. introduced digital car keys in June 2020, allowing iPhone or Apple Watch users to unlock cars wirelessly. In the next years, the trend of adopting smart wearables as digital keys would positively benefit the worldwide automotive digital key market

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Automotive Digital Key Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 6.25%
Market growth 2022-2026	$ 640.39 million
Market structure	Fragmented
YoY growth (%)	6.02
Regional analysis	Europe, North America, APAC, South America, and the Middle East and Africa
Performing market contribution	Europe at 46%
Key consumer countries	US, Canada, China, Germany, UK, and Sweden
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	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.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

Executive Summary

Market Landscape

Market Sizing

Market definition
Market segment analysis
Market size 2021
Market outlook: Forecast for 2021-2026

Five Forces Analysis

Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

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

Customer Landscape

Geographic Landscape

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
US – Market size and forecast 2021-2026
Germany – Market size and forecast 2021-2026
UK – 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 drivers
Market challenges
Impact of drivers and challenges
Market trends

Vendor Landscape

Overview
Vendor landscape
Landscape disruption
Industry risks

Vendor Analysis

Vendors covered
Market positioning of vendors
BMW AG
Continental AG
Daimler AG
DENSO Corp.
Hyundai Motor Co.
Robert Bosch GmbH
Samsung Electronics Co. Ltd.
Tesla Inc.
Valeo SA
Volkswagen AG

Appendix

Scope of the report
Inclusions and exclusions checklist
Currency conversion rates for US$
Research methodology
List of abbreviations

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