The Japan automotive smart keys market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 12.4% during 2023–2031. The growth of the market is attributed to the growing awareness among the customers regarding the vehicle safety and security regulations.
A smart key provides access or authorization to the car. Smart key was first developed by Siemens in 1995 and introduced by Mercedes-Benz under the name "Keyless-Go" in 1998 for the model W220 S-Class. The smart key's electronics circuit is embedded in a hollow, triangular piece of plastic. It is usually wide at the top, narrow at the bottom, squared-off at the tip with a half-inch-long insert piece. The metal key is used for valet purposes, which include locking the glove compartment or trunk before smart Key is turned over to a parking attendant.
The key fob utilizes a radio-frequency transponder to communicate with the door locks and uses infrared to communicate with the engine immobilizer system. The driver can point the smart key at the front driver side door while pushing and holding the unlock button on the smart key.
Japan Automotive Smart Keys Market Trends, Drivers, Restraints, and Opportunities
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Increasing adoption of smart key in middle-priced cars is anticipated to drive the market growth.
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Rapid industrialization and increasing disposable income are speculated to proliferate the growth of the market.
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Rising vehicle thefts is expected to propel the growth of the automotive smart keys market.
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Growing demand for automobiles and electrification of the vehicles is expected to boost the growth of the market.
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High cost of automotive smart key installation can hinder the market growth.
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Rising investment in the R&D activities and increasing technological advancements in the smart key features, such as access through smartphone, can create growth opportunities for the automotive smart keys market during forecast period.
Scope of Japan Automotive Smart Keys Market Report
The report on the Japan automotive smart keys market research report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Japan Automotive smart keys market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Single Function and Multi-function), Technologies (Remote Keyless Entry and Passive Keyless Entry), and End-users (OEM and Aftermarket)
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Geographical Zone
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Japan
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Denso Corporation, Continental AG, Alpha Corporation, Tokai Rika Co, Ltd., and Valeo SA.
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Japan Automotive smart keys Market Segment Insights
Multi-function segment to account a considerable market share
Based on applications, the market is segmented into single function and multi-function. The multi-function segment is anticipated to account for a considerable market share during the forecast period. Several types of vehicles, including hybrid vehicles and electric vehicle are equipped with advance safety and security features. Thus, rapid electrification of the automotive industry and rising disposable income are driving the growth of the market segment.
Passive keyless entry segment to dominate the market
Based on technologies, the Japan automotive smart keys market is divided into remote keyless entry and passive keyless entry. The passive keyless entry segment is anticipated to dominate the market in the projected timeline. This type of key utilizes automated technology. Key automobile manufacturers are focusing on the development of passive keyless entry devices to provide comfort to customers.
OEM segment to accounts major market share
Based on end-users, the market is segregated into OEM and aftermarket. The OEM segment is speculated to account for a major market share owing to owing to the presence of key automakers such as Toyota, Lexus, Acura, and Honda. Increasing demand for smart keys among consumers owing to rising penetration of latest technologies in the country. Rising purchasing power and growing production of vehicles are spurring the growth of the market segment. On the other hand, the aftermarket segment is anticipated to expand at a sluggish rate as major automakers are expected to gradually provide smart keys with every variant of the car.
Segments
The market Japan automotive smart keys market has been segmented on the basis of
Applications
- Single function
- Multi-function
Technologies
- Remote keyless entry
- Passive keyless entry
End users
Key Players
Competitive Landscape
Key players operating in the Japan automotive smart keys market includes Denso Corporation, Continental AG, Alpha Corporation, Tokai Rika Co, Ltd., and Valeo SA.
Major industry players are engaging in partnerships, acquisitions, and mergers to expand their market share.
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