Automotive Digital Key Market Size

Automotive Digital Key Market size was valued at USD 2.84 billion in 2024 and is set to cross USD 32.42 billion by the end of 2037, expanding at more than 20.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive digital key is estimated at USD 3.31 billion.

The reason behind the growth is impelled by the growing demand for innovations that help users access their vehicle’s security data through the smartphone application. Over the past century, with the increase in the awareness of vehicle security, along with the rise in per capita disposable income, there has been a surge in the development of initiatives for electro and autonomous mobility. According to the report by Statista, smartphone ownership has increased from 35% to 77% in the US, which is expected to surpass 7 billion by 2023.

The growing advancements in the connectivity of vehicles such as cars to the internet, high convenience, and control for drivers, allowing them to remotely lock and unlock their cars, track their vehicles, and start and stop the engine as well. Such, an increase in recent developments in automotive technology will make these vehicles perfect for usage in the future perspective is expected to boost the growth of the market. For instance, in 2022, travel and tourism made up over USD 7 trillion USD in direct contributions to the global gross domestic product (GDP). This acts as a major growth factor for advanced features in the automobile industry.