Automotive Smart Key Market to Reach $4.8 Billion with 25% CAGR Forecast to 2022
Smart Key in Asia pacific region is projected to reach $4.8 billion by the end of 2020 with a CAGR of over 25%.PUNE, INDIA, January 11, 2017 /EINPresswire.com/ --
The market for Smart Key in Asia pacific region is projected to reach $4.8 billion by the end of 2020 with a CAGR of over 25%. Smart keys are a part of a computerised system that uses chips and sensors to open door and start the engine of the vehicle without the use of physical keys. The driver is required to walk near the car, where he would find the door unlock automatically. In order to get the engine started he is further not required to take the keys out, but only press a button to get the engine started. Vehicles with a smart key system has the ability to disengage the immobiliser and still activate the ignition without inserting any keys, provided that the driver has the key inside the car.
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Smart Keys were developed as early as 1995 by Siemens, and was formally introduced in the vehicle by Mercedes Benz. The critical driver for the smart key systems is the convenience that the key provides. However the OEMs are reluctant to adopt the technology with regards to the extent of safety these vehicles provide. Smart Keys were primarily a critical feature only in the luxury vehicles, but it has steadily increased its adoption in the mass segment of medium-priced vehicles.
The smart key also has the ability to store user preferences such as seat positions, steering wheel position, mirror settings, climate control temperature settings, and stereo preferences. Some Ford models even have the settings, which can prevent the vehicle from exceeding a maximum speed when the certain smart key is used to start it. However, the smart key technology remains relatively new to the Asia-Pacific market and therefore the increase in consumer awareness is critical to the growth of the market in the region. However, there are many Chinese manufacturers operating in the market with fitting a single push button to operate smart lock and unlock. It is one of the cost-effective and user friendly smart entry system. BYD is one of the first company to fit a smart key in A segment vehicle.
Among the application type, the market for smart keys for door opening is expected to gain increased traction in the market by 2020 with a share of more than 75% in the region. Among the components, the radio frequency for receiver block in smart key system would grow at the highest rate during the forecast period. Among technology type, Infrared sensor and Capacity Sensor technology would have the significant market by 2020. The market is significantly competitive with some of major vendors like Valeo, BYD, Dongfeng, Guangzhou, Zhonghua, Tokai Rika, Silca, Soueast, Denso, Hyundai Mobis, ZF-TRW, and others. The market for smart key systems in Asia Pacific is segmented by application (single function and multi-function), by techology (transmitter, capacitive sensor and IR sensor), by installation (OEM and aftermarket) and by geography ( Japan, India, Korea anc China).
WHAT THE REPORT OFFERS
Market Definition along with identification of key drivers and restraints for the market.
Market analysis with country specific assessments and competition analysis in the Smart key market.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on the regional scale and at the country level.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
Identification and analysis of the Macro and Micro factors that affect the industry on both at the regional level and at the country level.
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Table of Contents
1.1 Research Methodology
1.2 Key Findings of the Study
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW AND TECHNOLOGY TRENDS
3.1 Current Market Scenario
3.2 Technology Trends
3.3 Porter's Five Forces Framework
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Competitive Rivalry within the industry
4. MARKET DYNAMICS
5. ASIA PACIFIC AUTOMOTIVE SMART KEYS MARKET BY APPLICATION (Growth, Innovations and Feasibility of Smartkeys)
5.1 Single function
6. ASIA PACIFIC AUTOMOTIVE SMART KEYS MARKET BY TECHNOLOGY (Growth, Innovations and Feasibility of Cybersecurity)
6.1 Transmitter / Security Technology
6.2 Capacitive Sensor Technology
6.3 Infra-red Sensor Technology
7. ASIA PACIFIC AUTOMOTIVE SMART KEYS MARKET-BY INSTALLATION (Growth, Trends and Durability)
8. ASIA PACIFIC AUTOMOTIVE SMART KEY MARKET, BY GEOGRAPHY (Market crackdown, trends and forecasts-country wise)
8.1 Asia Pacific
8.1.6 Rest of Asia Pacific
9. COMPETITIVE LANDSCAPE
9.2 Market Share Analysis
9.3 Developments of Key players
10. KEY VENDOR ANALYSIS
10.3 Guangzhou Guangpai
10.6 Hyundai Mobis
10.7 Shanghai Kaigao
10.8 Shanghai SIIC
10.11 Tokai Rika
11. FUTURE OUTLOOK OF THE MARKET
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