Samsung and Apple, collaborated with top leading car manufacturers in 2021, to develop applications that allow users to use their smartphones as digital keys to lock/unlock their vehicles or even turn on/off their engines. This project was carried out while focusing on the global market of automotive digital keys market.
IDEMIA’s, allows their car makers to manage digital key generation that would work with security storage of keys on Android and iOS smartphones, which would allow the users to use NFC on their smartphone-to-vehicle interface and also enables handsfree vehicle access using Bluetooth (BLE).
The emergence of IoT technology and the increasing demand for digital automobiles are the major factors driving the growth of the market.
The market size of automotive digital key is anticipated to attain a CAGR of 14.5% over the forecast period, i.e., 2024-2036.
The major players in the market are Heights Security Inc., HELLA GmbH and Co. KG, Robert Bosch GmbH, Tesla Inc., BMW AG, Hyundai Motor Co., ALPHA Corporation, Continental AG, DENSO Corporation, Hyundai Mobis, Tokai Rika Co. Ltd., and others.
The remote segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.