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Automotive Smart Key Market Share

Report ID: GMI5979
Published Date: Jun 2023
Report Format: PDF

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Automotive Smart Key Market Share

Some of the major players operating in the automotive smart key market are :

Alpha Corp.
Continental AG
Denso Corporation
HELLA GmbH & Co. KGaA
Huf Hulsbeck & Furst GmbH & Co. KG,
Hyundai Mobis Ltd.
Minda Corp. Ltd.
Robert Bosch GmbH.

These players focus on strategic partnerships and new product launches & commercialize for market expansion.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive smart key was valued at USD 12 billion in 2022 and is anticipated to grow at a CAGR of over 8% between 2023 and 2032. The emergence of advanced technologies, which use radio frequency (RF) signals and convert them into digital information, has augmented the prevalence of smart keys in the automotive sector.

The passive keyless entry technology segment held a market share of over 40% in 2022 and is expected to grow at a fast pace during 2023 and 2032, attributed to automated technology which enables the key to operate when the user or driver is close to the vehicle, without the need to take out the key from pocket.

North America automotive smart key market captured around 30% of the revenue share in 2022 and will showcase significant growth up to 2032, owing to the presence of prominent luxury car manufacturers including BMW, Mercedes-Benz, and Audi in the region.

Alpha Corp., Continental AG, Denso Corporation, HELLA GmbH & Co. KGaA, Huf Hulsbeck & Furst GmbH & Co. KG, Hyundai Mobis Ltd., Minda Corp. Ltd., and Robert Bosch GmbH.