NEW YORK, April 12, 2021 /PRNewswire/ —
Technavio has monitored the automotive digital key market in its latest market research report. The market is poised to grow by 1034.84 th units during 2021-2025, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive digital key market.
Frequently Asked Questions:
- What are the major trends in the market?
Use of digital keys for all connected systems is a major trend driving the growth of the market.
- At what rate is the market projected to grow?
The market will accelerate at a CAGR of over 7% and the incremental growth of the market is anticipated to be 1034.84 th units.
- Who are the top players in the market?
BMW AG, Continental AG, Daimler AG, DENSO Corp., Hyundai Motor Co., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Tesla Inc., Valeo SA, and Volkswagen AG are some of the major market participants.
- What is the key market driver?
The increasing demand for car-sharing and car rental services is one of the major factors driving the market.
- How big is the North America market?
The Europe region will contribute to 48% of the market share.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. BMW AG, Continental AG, Daimler AG, DENSO Corp., Hyundai Motor Co., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Tesla Inc., Valeo SA, and Volkswagen AG are some of the major market participants. The increasing demand for car-sharing and car rental services will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this automotive digital key market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
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Automotive Digital Key Market 2021-2025: Segmentation
Automotive Digital Key Market is segmented as below:
- Personal Use
- Car Sharing and Car Rental
- North America
- South America
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Automotive Digital Key Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive digital key market report covers the following areas:
- Automotive Digital Key Market Size
- Automotive Digital Key Market Trends
- Automotive Digital Key Market Industry Analysis
This study identifies use of digital keys for all connected systems as one of the prime reasons driving the automotive digital key market growth during the next few years. Also, digital key accessibility when smart device runs out of charge and use of smart wearables as digital keys will lead to a sizeable demand of the market.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Automotive Digital Key Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist automotive digital key market growth during the next five years.
- Estimation of the automotive digital key market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behaviour
- The growth of the automotive digital key market across Europe, North America, APAC, South America, and MEA
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive digital key market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Personal use – Market size and forecast 2020-2025
- Car sharing and car rental – Market size and forecast 2020-2025
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- Europe – Market size and forecast 2020-2025
- North America – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor Landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- BMW AG
- Continental AG
- Daimler AG
- DENSO Corp.
- Hyundai Motor Co.
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Tesla Inc.
- Valeo SA
- Volkswagen AG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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