NEW YORK, March 30, 2022 /PRNewswire/ — The automotive smart key fob market size is expected to grow by 23.98 mn units from 2019 to 2024, progressing at a CAGR of 3% during the forecast period, according to Technavio. The report offers an up-to-date analysis as well as exact growth variance and the Y-O-Y growth rate.
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Automotive Smart Key Fob Market 2020-2024: Scope
The automotive smart key fob market report covers the following areas:
Automotive Smart Key Fob Market 2020-2024: Drivers and Challenges
The safety and convenience associated with advanced vehicle access solutions are driving the automotive smart key fob market. The market is growing with the increasing sales volume of automobiles owing to their high penetration rate in automobiles, particularly passenger vehicles. Prominent automakers are equipping their vehicles with advanced key systems owing to their associated benefits. Automotive smart key fobs enable hands-free opening and closing of doors, boots, windows, and locating the vehicle in a parking lot. The smart key fob also adds to the vehicle’s safety against theft.
Smart key fobs are expensive and costly to replace. This will pose a major challenge for the automotive smart key fob market during the forecast period. The cost of the development of smart key fobs is high, which adds to the overall cost of the vehicle. Automotive smart key fobs are made using advanced technology, which integrates hardware and complex software in terms of algorithms or encrypted floating key codes. Hence, the overall high cost of smart key fobs poses a challenge to market growth.
Automotive Smart Key Fob Market 2020-2024: Segmentation
- North America
- South America
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Automotive Smart Key Fob Market 2020-2024: Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
We provide a detailed analysis of around 25 vendors operating in the automotive smart key fob market, including Continental AG, DENSO Corp., HELLA GmbH & Co. KGaA, Hyundai Mobis co., Ltd, Mitsubishi Electric Corp., Panasonic Corp., Tokai Rika Co., Ltd., Toyota Motor Corporation, Valeo, and ZF Friedrichshafen AG., among others.
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Automotive Smart Key Fob Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automotive smart key fob market growth during the next five years
- Estimation of the automotive smart key fob market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive smart key fob market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive smart key fob market vendors
Automotive Smart Key Fob Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 3%
Market growth 2020-2024
23.98 mn units
YoY growth (%)
North America, APAC, Europe, South America, and MEA
Performing market contribution
APAC at 53%
Key consumer countries
China and Japan
Leading companies, competitive strategies, consumer engagement scope
Continental AG, DENSO Corp., HELLA GmbH & Co. KGaA, Hyundai Mobis co., Ltd, Mitsubishi Electric Corp., Panasonic Corp., Tokai Rika Co., Ltd., Toyota Motor Corporation, Valeo, and and ZF Friedrichshafen AG.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,
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Table Of Contents :
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
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 by Volume
- Market segments
- Comparison by Application by volume placement
- Entry-segments – Market size and forecast 2019-2024 ($ millions)
- Mid-segments – Market size and forecast 2019-2024 ($ millions)
- Luxury-segments – Market size and forecast 2019-2024 ($ millions)
- Market opportunity by Application by volume
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher-priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Continental AG
- DENSO Corp.
- HELLA GmbH & Co. KGaA
- Hyundai Mobis co.,Ltd
- Mitsubishi Electric Corp.
- Panasonic Corp.
- Tokai Rika Co., Ltd.
- Toyota Motor Corporation
- ZF Friedrichshafen 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 focus on emerging market trends and provide 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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