Smart Keys Market Analysis

The smart keys market is segmented based on technology into capacitive sensor technology, infrared sensor technology, and transmitter technology, out of which, the infrared sensor technology segment is anticipated to account for a considerable revenue share and is expected to grow at a significant rate in the forecast period. The growing adoption of sensors across various applications is driving the growth of the market. Infrared sensors consume less power and have flexible applications as compared to capacitive sensors. Moreover, it enhances the wireless connection and can cumulate various features. Conversely, the capacitive sensor technology is speculated to grow at a substantial rate in the forecast period. 

On the basis of end user, the smart keys market is segmented into smart homes, automobiles, and others. The automobile segment accounted for significant market share and is anticipated to exhibit a high CAGR in the forecast period. Car manufacturers are integrating smart key applications and advanced technologies are driving the growth of this market segment. Furthermore, the rapid growth of the connected cars market is speculated to positively influence the automotive segment. On the other hand, the smart home segment is expected to grow at a robust CAGR owing to the growing inclination towards luxury homes.

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