Automotive Keyless Fob or Smart Key Fob: Introduction
- A smart key, also known as an intelligent key, is a key with information or digital features that can provide more functionalities than just unlocking a digital or physical lock system. It is part of a computerized system that uses microchips and sensors to automatically unlock the doors and start the vehicle, without the use of a key.
- The smart key is part of the key fob that is provided by the manufacturer with the vehicle. Even when the key fob is in the driver’s pocket, it can still unlock, lock, or start a vehicle through antennas in the car’s bodywork and the radio pulse generator in the key.
Key Drivers of Global Automotive Keyless Fob Market or Smart Key Fob Market:
- Increase in focus on vehicle safety features, rise in demand for automation, an increase in the demand for electric vehicles among consumers, a surge in trend of vehicle electrification in the automobile industry as well as government regulations on emissions and increased fuel efficiency are prominent factors driving the demand for advanced features in vehicles including keyless entry system in vehicles.
- Rising integration of luxury features in vehicles, including advance drive assistance systems and connected vehicles using Internet of Things, is prompting vehicle manufacturers to develop advanced vehicle security systems. Rise in usage of smartphone applications in vehicles is also a major factor boosting the integration of smart key fob in vehicles.
- Changing customer expectations are prompting digital key solutions providers to design innovative key solutions that provide customers with multiple functionalities. Research and development in smart key fob is increasing. For instance, BMW AG introduced a smart key fob with a display that enables control of various features of its cars such as pre-conditioning, park-assist, and lighting, it also displays information such as range and timer, which is likely to boost the automotive keyless fob market or smart key fob market.
Increase in demand for autonomous vehicles and electric vehicles to offer significant opportunities
- Increasing global carbon footprint and stringent emission norms are driving the preference of the automotive industry toward battery electric and hybrid electric vehicles. These vehicles either eliminate the I.C. engines completely or limit the operation of engine for specific time intervals to reduce emissions and fuel consumption. Fuel efficiency can be improved with the help of start/stop system, which is likely to create an opportunity for the automotive keyless fob market or smart key fob market.
- Integration of lane departure system, blind spot monitoring system, and drive assistance system in vehicles is likely to boost the demand for autonomous vehicles, which in turn is likely to increase the penetration of automotive keyless fob or smart key fob in autonomous vehicles
Rise in security threats to hamper market
- Keyless access system is more likely to face cyber security issues, as a smart key fob is connected to the vehicle through the smartphone, which employs software technology for its operation. Anyone can hack the code for the digital key and break into the vehicle through any device, which is likely to hamper the automotive smart key fob market across the globe.
- Smart key fob is a keyless entry, which does not require the driver to push any buttons on the key to unlock the doors. Doors unlock automatically when the key fob is near the car. Smart keys mostly utilize infrared radiation (IR) technologies to transmit signals to the car. Smart keys built in mobile applications work in a similar way, except that they transmit signals via Bluetooth or NFC technologies, such technologies can be hacked, which is likely to restrain the automotive keyless fob market or smart key fob market.
North America to hold significant share of global automotive keyless fob market or smart key fob market
- North America is projected to dominate the automotive keyless fob market or smart key fob market due to a rise in purchasing power parity of people, increased participation of the region’s leading automotive companies, and favorable technological infrastructure in the region. Furthermore, the U.S., Mexico, and Canada account for a major share of the market in the region. Moreover, rising internet penetration and a surge in the number of smartphone users drive the automotive sector, thereby fueling the market in North America.
Key players operating in global market
The global automotive keyless fob market or smart key fob market is highly fragmented with top manufacturers across the global market. A few of the key players operating and potential in the global automotive keyless fob market or smart key fob market are:
- ALPS ALPINE CO., LTD.
- HELLA GmbH & Co. KGaA.
- Lear Corporation
- Hyundai Mobis co.,Ltd
- Mitsubishi Electric Corp.
- Marelli Corporation
- Panasonic Corporation
- Valeo SA
- Tokai Rika Co., Ltd.
- Toyota Motor Corporation
- Continental AG
- Denso Corporation
- ZF Friedrichshafen AG
Global Automotive Keyless Fob Market or Smart Key Fob Market: Research Scope
Global Automotive Keyless Fob Market or Smart Key Fob Market, by Product Type
- Passive Keyless Entry System (PKES)
- Remote Keyless Entry System (RKES)
Global Automotive Keyless Fob Market or Smart Key Fob Market, by Applications
- Entry-Segment Vehicles
- Mid-Segment Vehicles
- Luxury-Segment Vehicles
Global Automotive Keyless Fob Market or Smart Key Fob Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.