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Automotive Smart Key Market Share

Report ID: GMI5979
Published Date: Aug 2024
Report Format: PDF

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Automotive Smart Key Market Share

Continental and Denso Corporation dominate the market with around 11% market share in 2023. Continental's smart keys underscore the critical role of connectivity within a comprehensive digital ecosystem. These keys integrate seamlessly with the vehicle's infotainment system, telematics, and cloud services, enabling remote diagnostics, vehicle tracking, and personalized settings.

Denso, investing in advanced technologies like RFID, NFC, and Bluetooth, develops sophisticated smart key systems that ensure reliable and secure communication between the key and the vehicle, enhancing user convenience and security. Additionally, Denso collaborates with major automakers to incorporate their smart key solutions into a wide array of vehicles. This strategic partnership ensures Denso's technologies remain aligned with the latest automotive trends and consumer requirements.

Automotive Smart Key Market Companies

Major players operating in the automotive smart key industry are:

Alpha Corp.
Continental AG
Denso Corporation
HELLA GmbH & Co. KGaA
Honda Lock Mfg Co., Ltd.
Huf Hulsbeck & Furst GmbH & Co. KG
Hyundai Mobis Ltd.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive smart key reached USD 12.7 billion in 2023 and is set to register over 9.1% CAGR between 2024 and 2032, owing to the increasing demand for enhanced vehicle security.

The passive keyless entry segment in the automotive smart key industry is expected to reach USD 12.2 billion by 2032 backed by advancements in technology.

North America market held 30% share in 2023, favored by increasing integration of Internet of Things (IoT) technologies in vehicles.

Alpha Corp., Continental AG, Denso Corporation, HELLA GmbH & Co. KGaA, Honda Lock Mfg Co., Ltd., Huf Hulsbeck & Furst GmbH & Co. KG, and Hyundai Mobis Ltd.