United States Automotive Smart Keys Market - Forecasts and Trends (2015 - 2020)
LONDON, Feb. 18, 2016 /PRNewswire/ -- The market for Smart Key in USA is projected to reach $7.5 billion by the end of 2020 with a CAGR of 28%. Smart Keys were a critical feature only in the luxury vehicles. However, increased safety norms are expected to spike the market for these systems in low-end vehicles as well. With the change in vehicle owner expectations for their vehicles to perform tasks that would involve a minor physical or mental effort on their part, the remote "key" has become a mainstay of the vehicle model design. The driver is not required to insert a metal key into the tumbler. Smart Key requires to press a button on a wireless transmitter to perform this arduous chore of locking or unlocking the vehicle doors. In addition, push-button ignition switches have also become common, eliminating the requirement to rotate the mechanical key in an ignition switch cylinder. The OEMs have been on a binge of offering advanced features relative to the unlocking/loc