Market Size of Japan Automotive Smart Keys Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 12.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Automotive Smart Keys Market Analysis
The Japan Automotive Smart Keys market is anticipated to register a CAGR of over 12% during the forecast period (2020 - 2025).
- The automotive smart key market in Japan is gaining traction over the last decade, owing to advantages, such as increased vehicle security. Also, the features similar to high-end luxury cars are also being implemented in budget cars by companies, such as Honda, Toyota, and Nissan which are engaged in developing smart keys for budget cars.
- Advancements in terms of automotive technology such as lightweight and eco-friendly materials used inside the chip and increasing vehicle thefts are likely to propel the development of smart keys, thus, generating a growth to the market in the coming years.
- Several leading car manufacturers in Japan such as Toyota, Lexus, Nissan, and Honda are developing compact and attractive smart keys, for instance, Honda had collaborated with Continental AG for the development of its smart key which can be even accessed with a smartphone. Such features shall provide growth opportunities for the market in the years to come.
- The smart key offers a tremendous boost in terms of user-friendliness and convenience. The convenience and driver assistance system attract huge adoption in the Japan automotive market. The increase in adoption for premium and luxury vehicles is driving the demand for smart keys in Japan.
