Market Size of Germany Automotive Smart Keys Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 10.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Germany Automotive Smart Keys Market Analysis
The Germany automotive smart keys market is expected to register a CAGR of over 10%, during the forecast period (2020 - 2025).
- Smart keys are an integrated computerized system that uses chips and sensors to open the doors and start the engine of the vehicle without the use of physical keys. Smart keys are often confused with Keyless Go, a term for an automotive technology that allows the driver to lock and unlock a vehicle without using the corresponding smart key buttons.
- Smart keys are also enabled to start the engine by simply pressing the ignition button located next to the steering column. Nowadays, major models, tailgate gets lifted by waving a foot underneath the rear bumper, making it convenient to load baggage when the hands are occupied.
- A critical driver of the market in smart key systems is the convenience that the smart key provides. The keys need not be kept in the hand to enjoy the features, and people enjoy the fact that the keys can be kept in the pocket or bag without requiring to reach around before getting into the vehicle.
- Germany is the growth engine of the Germany automotive industry, in 2019 German automakers produced 4.6 million cars which is the highest number in Germany after Spain with 2.3 million cars.
