Smart Keys Market Size

Smart Keys Market size was over USD 14.04 billion in 2024 and is anticipated to cross USD 44.08 billion by 2037, witnessing more than 9.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of smart keys is estimated at USD 15.14 billion.

Extensive research associated with smart keys in western countries, along with the increasing technological advancements and awareness among the customers about the vehicle safety and security regulations are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the increasing demand for automobiles, electrification of the vehicles and awareness about the government policies and regulations for the vehicles amongst individuals on a global level. Additionally, Covid-19 impacted the purchasing power of individuals which will have a long-term effect on the industries. The production stoppage at the automotive OEM and component supplier due to the COVID-19 pandemic and subsequent lockdowns led to a loss of approximately USD 306.3 million per day to the automotive sector.