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

The Japan Smart Key market is projected to reach $1.3 billion by the end of 2020 with a CAGR of around 26%. The Japanese automotive industry is the most prominent and one of the largest industries in the global market. Japanese automakers control 96% of their domestic automotive component market. Japan has consistently exported over 60% of its domestic production to the North American and European market. Thereby, with the vastness of the market, the market for smart keys in Japan, constitutes a significant share in the Asia-Pacific Smart Key market. The smart key offers a tremendous boost in terms of user-friendliness and convenience. These convenience and driver assistance system attract huge adoption in the Japan automotive market. The increase in adoption for premium and luxury vehicles effectively affect the demand for smart keys in Japan. Prominent example of a smart entry system with proximity sensor is found in the Honda models. When the remote is with the driver, and is within the 32 inches of the driver’s door, the system senses the unlock mode. When the driver touches the driver door handle, the door unlocks. Thereby, it reduces the burden of fishing around the bags or unsightly pocket-patting to find the key fobs. The advancement in automotive technology and the degree of research and development in automotive technology has helped to significantly drive the market for smart keys in Japan. The automotive smart key market in Japan is also marked by the presence of several regional players as well as international vendors involved in manufacturing the smart key components, and competing against each other to grab a significant share in the market. The regional players are getting engaged into entering strategic collaborations with the OEMs. Among the application, type the market for Infrared Sensor technology is expected to gain major traction in the market by 2020 with a share of more than 53% in the region. Among the customer segment, the aftermarket would grow at a considerably higher rate with the increased demand from the mid segment vehicles. The market is significantly competitive with vendors like Valeo, 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 Japan 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.

Published By: Mordor Intelligence
Published Date: Q1 2016

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