Automotive Digital Key Market Analysis

Connectivity (Remote, Near-field, Bluetooth)

The remote segment in the automotive digital key market is estimated to gain a robust revenue share of 43% in the coming years owing to the remote access or control of the vehicle, which can be used to lock and unlock the vehicle’s doors, start the ignition, and the track the location of the vehicle. Near-field communication technology enables communication between two devices that are within a short range of each other. Bluetooth provides wireless connectivity between the vehicles and the user’s phone.

Key Type (Electric, Non-Electric)

The electric segment is set to garner a notable share shortly and is likely to remain the largest sub-segment in the application of the automotive digital key market. They use wireless communication technology such as Bluetooth Low Energy (BLE), cellular (4G or 5G), GPS, Wi-Fi, and others to communicate with the car. According to the Bluetooth Market Update 2020, it is expected that 13 million annual shipments of Bluetooth-enabled key fobs and accessories will be seen by 2024. On the other side, non—electric Keys refer to traditional keys that use a mechanical system to operate the vehicle. They do not use electronics or wireless technology to unlock and start the vehicle.

Application (Multi-Function, Single-Function)

The multi-function segment in automotive digital key market is estimated to hold a noteworthy share as this offers a broader range of features, including remote entry, engine start, vehicle diagnostics, and geofencing. While, single-function keys offer a limited number of functionalities, such as remote entry or engine start.

Vehicle Type (Passenger, Commercial)

The demand for passenger vehicles, such as cars and SUVs, is increasing, and therefore the demand for convenience features such as remote entry and engine start would also increase. The demand for digital key technology in commercial vehicles, such as trucks, buses, and delivery vehicles is increasing, as this can provide safety, and security in managing and operating these types of vehicles.

Our in-depth analysis of the global market includes the following segments: