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Smart Technology Penetration Unlocks Robust Demand for Automotive Smart Key

Less popularly known as intelligent key, smart key is one of the highly demanded automotive innovations in today’s high tech world. The love for premium sports cars and super-luxury vehicles at one end and the rising threat of vehicle theft at the other have already created a robust demand for automotive smart key. While other product types have contributed to the expansion of the global smart key market, automotive smart key has always been one of the most significant contributors. Today, even budget car manufacturers offer automotive smart key. Thus, with rapidly growing production of both high-end and low-end cars, the global sales of automotive smart key may remarkably improve in the coming years.

Having said that, the introduction of competing technologies such as APIs and mobile apps with vehicle locking and unlocking capabilities could hinder the success of the global automotive smart key market. In February 2020, iPhone developer Apple released the first beta build of iOS 13.4. It appears that the beta has references to a “CarKey” API, which could be used to unlock or even start a car with some kind of NFC support. In other words, the API could help an iPhone or Apple Watch user to use their Apple gadget as a car key.

Manufacturers Likely to Focus on Cloud Technology and Smartphone Integration

With more number of companies entering the global automotive smart key market, the competitive landscape may carry a fragmented nature, according to market experts. Innovation in terms of user friendliness and security of keyless vehicle access is expected to become one of the major focuses of leading automotive smart key companies. Use of cloud-based technology and smartphone integration could become more common among automotive smart key manufacturers in future.

When it comes to regional markets for automotive smart key, manufacturers may want to shift their focus to Asia Pacific as it an aggressively growing, leading automotive hub in the world. Early adoption of technology has put developed regions such as North America and Europe ahead of the developing ones. Nonetheless, countries such as China, Japan, India, and South Korea have shown strong growth in the automotive and automotive components industries. The rise of the electric vehicles market and increased manufacture of cars with keyless entry features are anticipated to further add to the demand for automotive smart key in the emerging region.

Blog Author

Steven Chopde
February 7, 2020

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