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
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