A car key is helpful to lock and unlock the vehicle. Car keys are witnessing innovative changes owing to advancements in technology. One such innovation is the digital car key, which helps the owner to share the information of his vehicle securely through the smartphone application. The car digital key is a tool/technology in which smartphones are likely to be utilized as a car key to unlock/lock vehicle doors and start/stop the vehicle engine using Bluetooth technology or near field communication (NFC) technology. The driver can access the entire vehicle and every component of the vehicle with the help of a digital key. Development of digital sensors, quicker mobile connectivity, and compact innovative components are enabling cars to be a part of Internet of Things (IoT).
The global automotive digital key market can be segmented based on technology, application, vehicle type, vehicle class type, and geography.
In terms of technology, the automotive digital key market can be classified into NFC and two other segments. Smartphone devices can lock/unlock the vehicle only with a unique smartphone device due to the advancements in NFC technology, thereby, leading to less cyber security issues. However, using a unique device to lock/unlock the vehicle is likely to cause inconvenience in case of an emergency.
Europe is likely to account for a larger share for the automotive digital key market, as compared to the other regions. This is due to the region being a pioneer in vehicle technology and early introduction of the technology in the region. North America, Asia Pacific, Middle East & Africa, and Latin America are other regions of the automotive digital key market.
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