Market Trends of Japan Automotive Smart Keys Industry
This section covers the major market trends shaping the Japan Automotive Smart Keys Market according to our research experts:
Passive Keyless Entry Segment to Experience Highest Growth
Currently, the passive keyless entry (PKE) is experiencing high growth and it is expected to continue its dominance during the forecast period. The growth is attributed to its automated technology when the user or driver is nearby to the vehicle. Many automobile manufacturers are focusing on the PKE devices to provide comfort to the customer, which in turn, is generating demand to the market. For instance,
- In September 2019, Continental AG had installed its smartphone key access solution in Honda automobiles. Continental's CoSmA solution will enable Honda owners to open the vehicle or share the key with others using just their smartphone. Using the My Honda+ App, they can unlock the vehicle remotely via Bluetooth Low Energy (BLE).
Additionally, some smart keys of vehicles such as BMW, Range Rover, Mercedes-Benz and Lexus have the ability to store or save user preferences such as seat positions, steering wheel position, mirror settings, climate control temperature settings, and stereo preferences which can be automatically adjusted by pressing a single button.
Similarly, many automobile manufacturers have introduced smart phone key technology to eliminate the use of traditional keys. Thus, the increasing focus on the advancements of PKE segment shall lead to its highest growth.
OEM Segment to Witness Significant Growth
The OEMs segment is likely to dominate the market owing to the presence of major automakers such as Toyota, Lexus, Acura, and Honda. Also, the increasing usage for smart keys is this country is gaining more demand, as many customers are opting for latest technological advancements.
The demand for smart keys in the Japan is growing rapidly, as various Japanese companies are launching vehicles with keyless entry features, which shall lead to a growth of the automotive smart key market in this country. For instance,
- In October 2018, Toyota Motor Corporation had announced that the sales of new Lexus ES begin in Japan. It continues to deliver heightened comfort, craftsmanship, and luxury as it enters its 7th generation. The Lexus ES 300h offers the latest technology developments such as intelligent mobility and advanced environment-friendly.
The increasing demand for smart keys with advanced technology in Japan is likely to propel the smart key market in the country in the years to come. Thus, such developments are expected to lead to growth in the automotive smart key market in Japan.
