Global Virtual Car Key Market Overview:
Virtual car keys are the digital keys which are used to lock, unlock and start the car without any physical key, it can be used for the passenger as well as commercial cars. With the rapid changes and integration of technology & automobile the virtual car key market growing. The virtual keys are basically the smartphones and smartwatch-operated access to the car via app or passcodes.
Growth Drivers
- Demand for Advanced Locking and Unlocking ystem
- Increasing Spendings of People on Cars
Market Trends
- Growing Integration of Technology and Automobiles for Better Experience
- Consumption of Virtual Car Key Among Passenger Car Owners
Roadblocks
- Cybersecurity Related Threats Associated with the Virtual Car Keys
Opportunities
- Surging Demand for Virtual Car Key from the Developing Economies Around the World
Challenges
- Technical Connectivity related Problems with the Virtual Car Key
Competitive Landscape:
Some of the key players profiled in the report are Thales Group (France), Valeo (France), Tesla, Inc. (United States), Apple Inc. (United States), Lear Corporation (United States), Volkswagen Group (Germany), Continental AG (Germany), Bayerische Motoren Werke AG (Germany), Hyundai (South Korea) and Bosch (Germany). Considering Market by Technology, the sub-segment i.e. Near Field Communication will boost the Virtual Car Key market. Considering Market by Operating Device, the sub-segment i.e. Smartphone will boost the Virtual Car Key market.
On 23rd June 2020, Apple launched a new iPhone feature called CarKey that will allow drivers to unlock their cars wirelessly with their phones, the company announced during its Worldwide Developers Conference. The digital car key will be available on devices equipped with Apple's current iOS 13 operating system as well as the upcoming iOS 14 system, which was also unveiled on Monday. The first car to support the new feature will be the 2021 BMW 5 Series, which is set to hit US dealerships next month.
What Can be Explored with the Virtual Car Key Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Virtual Car Key Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Virtual Car Key
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Virtual Car Key market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Virtual Car Key market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Virtual Car Key Manufacturers, Virtual Car Key International Traders, Virtual Car Key Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.