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Automotive Smart Key Market Trends

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

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Automotive Smart Key Market Trends

Biometric authentication is gaining traction in the automotive smart key sector. It involves incorporating fingerprint or facial recognition technology directly into smart keys, bolstering security measures. This shift is a direct response to heightened consumer expectations for cutting-edge safety features. By employing biometric systems, vehicles can be accessed and started only by authorized individuals, markedly lowering the chances of theft.

Furthermore, these systems can be tailored to accommodate multiple users, enabling personalized features like seat preferences and climate control settings. As a result, manufacturers are investing in biometric solutions, aiming to elevate user experiences, thereby catalyzing the development of more intelligent and personalized vehicles.

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.