The document provides an overview of the global automotive smart key industry. It discusses that the market is expected to reach $22 billion by 2023, growing at a 5.9% compound annual growth rate from 2017-2023. Key factors driving market growth include technological advancements in the automotive industry, vehicle security regulations, and increasing consumer demand for advanced security features. However, high costs of integrating smart key technology pose a restraint. Asia Pacific currently dominates the market and is expected to continue doing so due to rapid technological changes and safety feature adoption in the region.

1. Automotive Smart Key Industry Research
Report By Forecast 2023
IndustrySurvey, Growth, Competitive Landscape
and Forecasts to 2023
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Automotive Smart Key Industry Forecast To 2023
• Global Automotive Automotive Smart Key Industry Overview
• An automotive smart key is referred to a computerized key which is capable of locking and
unlocking a vehicle without having to use a traditional key. An automotive smart key works using
the buttons on the remote or smart key. It functions using an identifying antenna which is attached
to the vehicle and a radio pulse generator which is integrated with the key. When an automotive is
integrated with a smart key, it has just one button that is located on the door handle to lock the
vehicle.
Automotive Smart Key Industry Forecast To 2023

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Automotive Smart Key Industry Forecast To 2023
• A report recently launched by Market Research Future (MRFR), the global automotive Automotive
Smart Key Industry is estimated to garner a market revenue valuation of USD 22 billion by the end
of the forecast period. The MRFR analysis has also suggested that the global automotive
Automotive Smart Key Industry is expected to register a 5.9% CAGR between 2017-2023. Several
factors attributing to the ascension noted in the global automotive Automotive Smart Key Industry
include technological advancements observed in the automotive industry, along with vehicle
security regulations laid out by the government. Further, consumer awareness towards advanced
technologies and rising demand for sophisticated vehicle security features are contributing heavily
to the growth of the global automotive Automotive Smart Key Industry. However, a high cost of
such technology integration is posing as a significant restraint on the progress of the global
automotive Automotive Smart Key Industry.
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Automotive Smart Key Industry Forecast To 2023
Global Automotive Smart Key Industry Segmented on the basis of
The global automotive Automotive Smart Key Industry is segmented, by MRFR, on the basis of
technology, end-market, and region. Based on technology, the global automotive Automotive Smart Key
Industry is segmented into infra-red sensor and transmission. Based on end market, the global automotive
Automotive Smart Key Industry is segmented into original equipment manufacturers (OEMs) and
aftermarket. Among these segments, the global automotive Automotive Smart Key Industry is ruled by the
aftermarket segment. Aftermarket is usually a secondary market for automotive concerned with
distribution, manufacturing, as well as retailing and installation of vehicular parts.

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Automotive Smart Key Industry Forecast To 2023
Global Automotive Smart Key Industry - Geographical Analysis
• The global automotive Automotive Smart Key Industry is analyzed by Market Research Future (MRFR), on the
basis of region, for the segments of North America, Europe, Asia Pacific, and Rest of the World. Among these
regions, Asia Pacific accounted for the largest share of the global automotive Automotive Smart Key Industry in
the base year. The APAC region is also expected to retain its dominance over the market through the forecast
period of 2017-2023. This fast-paced growth in the regional market can be attributed to the technological
advancements and an accelerated rise in demand for convenience. Moreover, rising vehicle production,
coupled with an accelerated installation of safety features in such vehicles is promoting the growth of the
automotive Automotive Smart Key Industry residing in Asia Pacific. In addition, elevating demand from
customers for high end vehicles is also fostering growth in the APAC market for automotive smart keys.
Emergence of urbanization, in addition to a rise in the disposable income of consumers is having a positive
impact on the ascension of the automotive Automotive Smart Key Industry in Asia Pacific. On the other hand,
Europe and North America’s automotive Automotive Smart Key Industry is anticipated to witness a steady pace
of growth.
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Automotive Smart Key Industry Forecast To 2023
Global Automotive Smart Key Industry - Competitive Analysis
• Some of the outstanding players in the global automotive Automotive Smart Key Industry, as mentioned in the
MRFR analysis, include Denso Corporation (Japan), Valeo (France) ,TRW Automotive (U.S.), Continental AG
(Germany), HELLA KGaA Hueck & Co.( Germany), Hyundai Mobis(India), Visteon Corporation (U.S.), Silca S.p.A.
(Italy), Toyota Motor Corporation (Japan) and ALPHA Corporation.
• Industry Update
• May 2019: Imec recently announced their breakthrough in the Bluetooth Low Energy (BLE) research to use such
technology in passive and secure keyless entry. Imec collaborated with Cosic Research Group at KU Leuven to
develop the security mechanisms of this new solution.
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