Automotive Digital Key Market Share

North American Market Forecast

The automotive digital key market in North America was valued at USD 386 million by 2023 and is predicted to account for the largest share of 43% during the forecasted period. The awareness of vehicle safety is a main growth driver for this market in the U.S., and this market is expected to increase as the popularity of digital keys amongst rental fleet owners so that they can receive or deliver the vehicle without any physical meet. As the occupant fatality rate for passenger cars increased from 1.22 in 2020 to 1.26 in 2021, this shows the requirement for vehicle safety in the region.

APAC Market Statistics

The Asia Pacific automotive digital key market is estimated to be the second largest, during the forecast timeframe, with a 35.7% share of revenue in 2021, led by the higher demand for passenger vehicles, along with the increase in the income of consumers. Asia-Pacific is also expected to further continue its growth in the forecasted period due to the adoption of new norms and policies by the government which encourages the consumption and production of the digital automotive industry.