Automotive Digital Key Market to Reach $11.6 Billion by 2031, Fueled by Connectivity and Security Demands

Wilmington, Delaware, Feb. 12, 2025 - The automotive digital key market is projected to surge from US$ 2.1 billion in 2022 to US$ 11.6 billion by 2031, exhibiting a CAGR of 21.0%. Growth is driven by demand for enhanced vehicle security, remote access, and advancements in automotive connectivity. Digital keys, utilizing NFC, BLE, and UWB technologies, enable users to lock, unlock, and start vehicles via smartphones. Major automakers and tech companies are investing in R&D to standardize digital key solutions. Key players include Apple, Google, BMW, Hyundai, and Tesla. Trends include UWB technology adoption, biometric authentication, and cloud-based vehicle access management. Asia-Pacific is expected to see significant growth due to increasing smartphone penetration and EV adoption.