COVID-19 impact on Automotive Smart Key Market Research Report – Global Forecast till 2023

Market Synopsis:

An COVID-19 impact on Automotive Smart Key Market is referred to a computerized key which is capable of locking and unlocking a vehicle without having to use a traditional key. An COVID-19 impact on Automotive Smart Key Market works using the buttons on the remote or smart key. It functions using an identifying antenna which is attached to the vehicle and a radio pulse generator which is integrated with the key. When an automotive is integrated with a smart key, it has just one button that is located on the door handle to lock the vehicle.

A report recently launched by Market Research Future (MRFR), the global COVID-19 impact on Automotive Smart Key Market market is estimated to garner a market revenue valuation of USD 22 billion by the end of the forecast period. The MRFR analysis has also suggested that the global COVID-19 impact on Automotive Smart Key Market market is expected to register a 5.9% CAGR between 2017-2023. Several factors attributing to the ascension noted in the global COVID-19 impact on Automotive Smart Key Market market include technological advancements observed in the automotive industry, along with vehicle security regulations laid out by the government. Further, consumer awareness towards advanced technologies and rising demand for sophisticated vehicle security features are contributing heavily to the growth of the global COVID-19 impact on Automotive Smart Key Market market. However, a high cost of such technology integration is posing as a significant restraint on the progress of the global COVID-19 impact on Automotive Smart Key Market market.

Market Segmentation

The global COVID-19 impact on Automotive Smart Key Market market is segmented, by MRFR, on the basis of technology, end-market, and region. Toyota Motor Corporation (Japan) and ALPHA Corporation.

Industry Update

May 2019: Imec recently announced their breakthrough in the Bluetooth Low Energy (BLE) research to use such technology in passive and secure keyless entry. Imec collaborated with Cosic Research Group at KU Leuven to develop the security mechanisms of this new solution.

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