China Automotive Smart Keys Market - Forecasts and Trends (2015 - 2020)

Mar 03, 2016, 17:24 ET from Reportlinker

NEW YORK, March 3, 2016 /PRNewswire/ -- The China Smart Key market is projected to reach $1.7 billion by the end of 2020 with a CAGR of around 27%. The smart key allows the driver to keep the key pocketed when unlocking, locking and starting the vehicle as some of the basic features. 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 just 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's when hands are occupied. There is no need of the tiresome task of inserting-keys-into-ignition-and-turning, opening the tailgate with pre-occupied hands. Thereby, it reduces the burden of fishing around the bags or unsightly pocket-patting to find the key fobs. Within three-five feet of the doors, an average smart keys 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 OEM as well as in the aftermarket. There is more than 80-100 suppliers in the regional market for the automotive smart keys. They are increasingly getting engaged into entering strategic collaborations with the OEMs. Among the application type, 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. The market is significantly competitive with vendors like Valeo, ALPHA, Denso, Shenzhen Da Yuan Technology Ltd., Shanghai Kaigao, Shenzhen Guanghuayuan Tech Co., ZF-TRW, and others.

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 key of Cars market.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on the market.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
Identification and analysis of the Macro and Micro factors that affect the industry in the market.
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