China Automotive Smart Keys Market - Forecasts and Trends (2020 - 2025)

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China’s smart keys market is projected to reach USD 1.7 billion by the end of 2020, at a CAGR of around 27%. The smart key allows the driver to keep the key pocketed when unlocking, locking and starting the vehicle. The key is fitted and identified through the several antennas in the car's bodywork and a radio pulse generator in the key housing. Depending on the system, the vehicle gets automatically unlocked when a button or sensor on the door handle or trunk release is pressed. Vehicles with a smart key system fitted have a mechanical backup in the form of a spare key blade supplied with the smart keys. Manufacturers usually hide the backup lock behind a cover for styling. The smart key offers a tremendous boost in terms of user-friendliness and convenience. The increase in demand for premium vehicles, which has gone up by 9-12% in the last 2 years, would effectively affect the demand for smart keys in China.

Smart keys are enabled to start the engine by simply pressing the ignition button located next to the steering column. In some models, the tailgate gets lifted by waving a foot underneath the rear bumper, making it convenient to load baggage when the hands are occupied. There is no need for the tiresome task of inserting keys into the ignition and turning and opening the tailgate with pre-occupied hands. Thereby, it reduces the burden of fishing around in the bag or the unsightly pocket-patting to find the key fobs. Within three-five feet of the doors, an average smart key automatically unlocks the car. The advancement in automotive technology and the degree of research and development would help to significantly drive the market for smart keys in China.

The automotive smart key market in China is marked by the presence of several regional players involved in manufacturing the smart key components, and sourcing them to the top notch OEMs as well as the aftermarket. There are more than 80-100 suppliers in the regional market for automotive smart keys. They are increasingly getting engaged in entering strategic collaborations with the OEMs.

The market has been segmented by application (single function and multifunction), by technology (transmitter, capacitive sensors, and IR sensors), and by installation (OEM and aftermarket).

Among the application types, the market for low-frequency power amplifier block is expected to gain major traction in the market by 2020 with a share of more than 55% in the region. Among the technology, Infrared Sensor Technology would grow at a considerably higher rate with the increased production of advanced sensor technology in the country.

Some of the key players in the market are:

  • Alpha
  • Continental
  • Denso
  • Hyundai Mobis
  • Valeo
  • ZF TRW

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 China smart keys market.
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on the market.
  • Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
  • Identification and analysis of the macro and micro factors that affect the industry.

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