Jul 06, 2020 (Market Insight Reports) -- The report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Automotive Smart Key production region, major players, and product type which will provide a simplified view of the Automotive Smart Key industry. The Automotive Smart Key market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Automotive Smart Key market which will help the emerging market segments in making vital business decisions.
The automotive smart key market is estimated to register a CAGR of over 7% during the forecast period, 2020-2025.
Automotive Smart Key Market Segmentation:
This report on Global Automotive Smart Key market is a detailed research study that helps provides answers and pertinent questions with respect to the emerging trends and growth opportunities in this industry. It helps identify each of the prominent barriers to growth, apart from identifying the trends within various application segments of the Global market for Automotive Smart Key. Collecting historical and recent data from various authentic resources and depending on all the factors and trends, the report presents a figurative estimate of the future market condition, along with compound annual growth rate (CAGR).
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Global Automotive Smart Key market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including Alpha Corp., Minda Corp. Ltd, Denso Corporation, Continental AG, Huf Hulsbeck & Furst GmbH & Co. KG, Honda Lock Mfg. Co. Ltd, ZF Friedrichshafen AG, Toyota Motor Corp., Valeo SA, HELLA GmbH & Co. KGaA, Hyundai Mobis Co. Ltd, Tokai Rika Co. Ltd, Silca, amongst others.
Other Technology Segment projected to grow at a high pace
Currently, the other technologies segment has the highest share out of all the segments. This segment includes the biological entry system, as well as smartphone connected car technology. Majority of the other technologies are based on passive keyless entry (PKE) technology, where the PKE device operates while stored in the user’s pocket or bag, unlike a standard remote keyless entry (RKE) device, which requires the user to hold the device and push a button to lock or unlock the vehicle. Auto companies, such as Leap Motor, have introduced biological entry system with the launch of their smart electric coupe S01 model in China, in January 2019. These vehicles will be equipped with a Leap In biological lock/unlock system that integrates finger vein recognition and face recognition technologies, thus, giving the customers a keyless experience from entering the vehicle to starting the engine.
Asia-Pacific is expected to see the highest growth
In the automotive smart key market, the growth of the Asia-Pacific region is expected to be more during the forecast period. China is one of the biggest automotive markets in the world. In 2018, the volumes of production and sales of vehicles were lower than expected at the beginning of the year, due to political factors and microeconomics. However, new energy vehicle (NEV) sales continued to rise rapidly, while exports also showed fast growth. The demand for smart keys in the Chinese, as well as the Indian market, is growing rapidly, as various Chinese and Indian companies are launching vehicles with keyless entry features, which shall lead to a growth of the automotive smart key market in China and India. The increasing demand for smart keys with advanced technology in Japan is likely to propel the smart key market in the country in the years to come. Thus, such developments are expected to lead to growth in the automotive smart key market in the Asia-Pacific region.
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This independent 137 pages report guarantees you will remain better informed than your competition. With over 80 tables and figures examining the Automotive Smart Key market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader's market revenue forecasts as well as analysis to 2025 .
Importance of this Report
Impact of low unit costs, diversified product ranges and intense competition on the market
Analyzing various perspectives of the market with the help of Porter's five forces analysis
Regional analysis of the market