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Automotive Smart Keys Market to Hold a High Potential for Growth by 2028

Automotive smart keys are a critical features for the automotive vehicle’s safety and security as well as to enable ignition of the engine. Automotive smart keys have become backbone for the vehicle model design owing to shifting people’s lifestyle towards luxurious vehicles coupled with rising disposal is also projected to shape up the market.

With the help of automotive smart keys driver can operate various operation of vehicle without physically touch,  such as vehicle doors locking or unlocking, control of windows, mirrors, radio pre-sets, moon roof and seat adjustment.

Before 2010, transponder keys was used, but increased number of cases of cyber hacking or externally controlling the key’s signal, transponder key has vanished. In between 2010 and 2011, remote head type key were used for operating the vehicle’s necessary operations.

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FACTS AT A GLANCE

Companies:Thule Group, Oakmore Pty Ltd., HELLA KGaA Hueck & Co., Covercraft Industries, LLC, CAR MATE MFG.CO., LTD., U.S. Auto Parts Network, Inc., O’Reilly Auto Parts, Star Automotive Accessories, Truck Covers USA LLC, Mont Blanc Industri AB, and Classic Soft Trim, are some of the companies in the global market for exterior car accessories.

Coverage: All major geographies and key segments

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Segments: Automotive Smart Keys Market Segmented By Application such as Single Function based automotive smart keys, Multi-Function based automotive smart keys with Technology such as Security Technology, Infra-red Sensor Technology, Capacitive Sensor Technology, Others

Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

ABSTRACT-

Increasing technological advancement for vehicle’s safety and security technology such as automotive telematics system, advanced driving assistance systems (ADAS) and others. For synchronization of these technology a remote operated technology is required which can controlled vehicle’s necessary function via wireless remote are projected to enrich the demand for automotive smart keys over the forecast period.

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Moreover, phase in of various types of vehicles such as hybrid vehicles and electric vehicle which are equipped with advance safety and security features is also projected to ramp up the demand for automotive smart keys over the slated time period. Automotive smart keys market is projected to gaining significant traction across end users and technologies such as Transmission, Infra-Red Sensor and Others.

On the flip side, data security and safety is projected to hinder the growth of the global automotive smart key market across the globe by the end of 2028. However, high initial cost, owing to smart key is as a wireless technology and counterfeit product comes from China may decline the growth trend of the global automotive smart keys market during the forecast period.

Renowned automotive smart keys manufacturer are focused towards to design and develop a compact and attractive automotive smart keys which could be used as multifunction for instance South Korea’s largest automaker Hyundai Motor Co. has launched an “H-band” type smart key for start or stop of vehicle.

Luxury car manufacturer such as Mercedes Benz (Daimler), BMW, Audi, Lexus (Toyota), Jaguar Land Rover (Tata), Volvo (Geely), Porsche (VW) and Bentely (VW) are highly shifted towards automotive smart keys owing to its phenomenal features and they are using light weight and eco-friendly material for manufacturing of smart key’s chip and buttons.

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