Market Trends of North America Automotive Smart Key Industry
This section covers the major market trends shaping the North America Automotive Smart Key Market according to our research experts:
Other Technology Segment Projected to grow at a High Pace
The other technologies segment currentlyhas the highest share, compared to all other segments. This segment includes the biological entry system, as well as smartphone connected car technology. Majority of the other technologies are based on passive keyless entry (PKE) technology, where the PKE device operates while stored in the user's pocket or bag.
Vehicle manufacturers in North America are introducing latest key technology in vehicles such as Lincoln had introduced smartphone key technology in August 2019, to eliminate traditional keys. This technology permits owners to lock and unlock, and start and drive the vehicle without a traditional key. Also, in some models such as Mercedes Benz, Audi, and Jaguar the tailgate gets lifted by waving a foot underneath the rear bumper making it convenient to load baggage's when hands are occupied. Smart keys are also enabled to start the engine by just simply pressing the ignition button, located next to the steering column.
Additionally, some smart keys of vehicles such as BMW and Range Rover also store an individual user setting, which enables the seat, mirrors, steering wheel and even audio preferences to be automatically adjusted by pressing a single button. Also, the smart key uses radio waves to communicate with the vehicle containing embedded antennas that identifies and validates them. On some models, like that of BMW, the key comes to an operational mode within 1.5 metres of the car. The door automatically locks or unlocks with a touch of the door handle. Thus, the increasing focus on the advancements shall lead to its expected high CAGR.
United States to Dominate the Market
Currently, the United States region dominates the market, and it will continue its dominance during the forecast period. The growth is mainly attributed as there is presence of many automobile manufacturers in this region such as Ford Motor Company, General Motors, and Fiat Chrysler Automobiles. Also, the demand for smart keys is the United States in rapidly growing, as many customers prefer latest technology advancements. For instance,
- In September 2019, Continental AG had installed its smartphone key access solution in Honda automobiles. Continental's CoSmA solution will enable Honda e 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, the leading OEM manufactures in the United States such as The Ford Company, Toyota Motor Corporation as well as Lincoln are mainly focusing on the vehicles with keyless entry features, which shall lead to a growth of the automotive smart key market in this region.
