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Automotive Digital Key Market size is set to grow by USD 891 million from 2024-2028, Standardization for using smart devices as keys to boost the market growth, Technavio

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NEW YORK, June 25, 2024 /PRNewswire/ — The global automotive digital key market  size is estimated to grow by USD 891 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.22%  during the forecast period.  Standardization for using smart devices as keys is driving market growth, with a trend towards use of smart wearables as digital keys. However, complexity of integration with existing infrastructure  poses a challenge. Key market players include Apple Inc., Bayerische Motoren Werke AG, Continental AG, DENSO Corp., Ford Motor Co., Giesecke Devrient GmbH, Hyundai Motor Co., IDEMIA France SAS, Infineon Technologies AG, Mercedes Benz Group AG, NXP Semiconductors NV, Robert Bosch GmbH, Samsung Electronics Co. Ltd., STMicroelectronics International N.V., Telefonaktiebolaget LM Ericsson, Tesla Inc., Thales Group, Valeo SA, Volkswagen AG, and Volvo Car Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Personal use and Car sharing and car rental), Vehicle Type (Passenger cars and Commercial vehicles), and Geography (Europe, North America, APAC, South America, and Middle East and Africa)

Region Covered

Europe, North America, APAC, South America, and Middle East and Africa

Key companies profiled

Apple Inc., Bayerische Motoren Werke AG, Continental AG, DENSO Corp., Ford Motor Co., Giesecke Devrient GmbH, Hyundai Motor Co., IDEMIA France SAS, Infineon Technologies AG, Mercedes Benz Group AG, NXP Semiconductors NV, Robert Bosch GmbH, Samsung Electronics Co. Ltd., STMicroelectronics International N.V., Telefonaktiebolaget LM Ericsson, Tesla Inc., Thales Group, Valeo SA, Volkswagen AG, and Volvo Car Corp.

Key Market Trends Fueling Growth

The automotive digital key market is advancing with OEMs offering digital keys alongside mechanical ones. Accessibility through smartphones and wearables is a developing trend. Jaguar Land Rover’s Activity Key and Hyundai’s Android Wear watch are examples. Apple’s digital car keys using NFC technology are also gaining traction, expected to be supported by BMW 5 Series. This use of smart wearables as digital keys is projected to boost the market growth. 

The Automotive Digital Key market is experiencing significant growth with technologies like Bluetooth, NFC, and Ultra-Wideband gaining popularity. Smartphones are becoming digital keys, enabling contactless vehicle access and starting. Companies are focusing on convenience and security features, such as keyless entry, push-button start, and location tracking. The market is also witnessing the integration of vehicle systems and mobile apps, offering services like vehicle diagnostics and remote engine start. Additionally, the use of biometric authentication and geofencing technology is on the rise, enhancing security and convenience. The future of the Automotive Digital Key market lies in the development of more advanced and integrated solutions. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The integration of digital key solutions into the intricate automotive infrastructure poses a significant challenge for the global automotive digital key market. With vehicles consisting of multiple hardware and software components from various manufacturers, ensuring compatibility and seamless integration is essential. Retrofitting existing vehicles with digital key capabilities is more complex than integrating them into new models due to differences in technologies and architectures. Communication protocols used in vehicles must be considered to avoid disruptions. Intuitive and user-friendly digital key interfaces must be designed to integrate with existing infotainment systems and controls. These complexities may hinder market growth during the forecast period.The Automotive Digital Key market faces several challenges. Technology convergence in cars requires seamless integration of digital keys with various systems such as telematics, connectivity, and security. Keyless entry and start systems using digital keys are becoming increasingly popular, but ensuring secure transmission and protection against hacking is a major concern. Additionally, ensuring compatibility with various car models and makes, as well as integrating digital keys with mobile apps, adds to the complexity. Regulations and standards for digital keys are still evolving, which can hinder market growth. Lastly, consumer acceptance and trust in using digital keys instead of traditional physical keys is a significant challenge that needs to be addressed.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This automotive digital key market report extensively covers market segmentation by

Application 1.1 Personal use1.2 Car sharing and car rentalVehicle Type2.1 Passenger cars2.2 Commercial vehiclesGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Personal use-  The automotive digital key market is experiencing significant growth due to the numerous benefits it offers for personal use. Digital keys provide keyless entry and start capabilities, enabling users to unlock and start their vehicles using smartphones or wearable devices. This technology enhances convenience and security by eliminating the need for physical keys and allowing temporary access to be granted. Additionally, digital keys offer seamless sharing and access control for multiple users, making them an essential component of modern technological conveniences. Companies like Giesecke+Devrient GmbH provide simple and easy-to-use digital key solutions that integrate with existing vehicle entry systems and support various functions, contributing to the market’s growth.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Automotive Digital Key market is experiencing significant growth as the automotive industry shifts towards vehicle digitization. Digital keys, such as those utilizing RFID technology, key cards, smart key fobs, wearable smart keys, and even facial or finger vein recognition, are increasingly popular in both high-end luxury cars and budget models. These digital keys offer a keyless experience, enhancing convenience and security. Connected cars, with their advanced keyless entry systems and driver safety features, are driving the demand for digital keys. The market for these innovative security systems is expected to expand rapidly, offering engine start/stop and door lock/unlock capabilities, among other features. The integration of digital keys into the automotive landscape is revolutionizing the way we interact with our vehicles, prioritizing both convenience and safety.

Market Research Overview

The Automotive Digital Key market refers to the technology that enables vehicle owners to unlock, start, and operate their cars using a digital key on their smartphones. This innovative solution offers convenience, security, and contactless access to vehicles. The technology consists of various components such as Near Field Communication (NFC), Bluetooth, and Ultra-Wideband (UWB) technology. The market is driven by factors like increasing smartphone penetration, growing demand for contactless solutions, and advancements in automotive technology. The integration of digital keys in ride-hailing and car-sharing services is also expected to boost market growth. Additionally, the development of standardized digital key protocols by organizations like Car Connectivity Consortium (CCC) and Global Automakers is further fueling market expansion.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationPersonal UseCar Sharing And Car RentalVehicle TypePassenger CarsCommercial VehiclesGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Thinkpal learning tablet from Think Academy wins TechRadar Pro Picks and Trusted Reviews Best in Show awards at CES 2025

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LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — Think Academy debuted its Thinkpal tablet at CES 2025 and has won a TechRadar Pro Picks and Trusted Reviews Best in Show awards for this innovative new product.

Both awards are given to innovative products and solutions at CES that stand out from a packed crowd. Think Academy President, Alex Peng, was presented the awards at CES, noting the awards were given to Thinkpal because it is both a wholly unique product in the education technology market and also provides such value to parents and educators.

Designed to transform the way kids learn, explore, and thrive in an ever-evolving world, the Thinkpal is powered by cutting-edge AI that serves as a guide and tutor for young learners. With significant learning loss experienced in recent years, families and educators have faced unprecedented challenges as test scores in reading and math have seen steady declines. Parents have expressed their struggles in reigniting their children’s passion for learning, while educators grapple with the complexities of bridging diverse learning gaps.

To meet these challenges, the Thinkpal tablet offers a tailored, AI-powered solution that provides step-by-step writing guidance and real-time math support, making learning more intuitive and enjoyable.

Alex Peng introduced several key features of the Thinkpal during a press event. He showed the audience how Thinkpal’s “GeniusTutor,” an AI-powered system that transforms learning into an interactive and engaging experience, is the heart of this product’s features. Built on the Microsoft Azure OpenAI GPT-4o model, GeniusTutor provides real-time guidance and feedback, empowering students to:

Conquer complex math problems through logic-driven, step-by-step explanationsMaster writing with interactive prompts and instant feedback that build confidence and creativityEnhance vocabulary and reading skills with innovative tools like “Point-and-Discover,” where children can point to words in a physical book, and the tablet’s camera instantly provides explanations, along with guided reading exercises

Adding a touch of fun and companionship, “Thinkie,” an advanced AI-powered learning companion, engages children through voice-based natural language interactions. Thinkie chats, answers questions, and fosters curiosity, making the learning process enjoyable and dynamic.

With an extensive library of ebooks, gamified coursework, and compatibility with popular applications like Google Classroom, the Thinkpal Tablet is a versatile tool for modern families. The 11-inch TÜV Rheinland-certified eye-care screen also safeguards children’s vision during extended use, while the optional keyboard transforms the tablet into a Chromebook-like device, enhancing productivity and usability.

“Our mission is to provide every child with a personalized, world-class tutor that inspires confidence and a lifelong love for learning”, noted Alex Peng during a media interview Q&A. “We’re honored that TechRadar and Trusted Reviews recognize the potential of the Thinkpal to improve learning through advanced and accessible technology.”

The Thinkpal Tablet will be available for $249 ($339 including keyboard) at shop.thethinkacademy.com. Pre-orders open today.

About Think Academy

Think Academy, a subsidiary of TAL Education Group (NYSE: TAL), has been at the forefront of education innovation for over two decades. Serving more than 5 million K-12 students across 10+ countries, Think Academy is dedicated to creating fair and comprehensive educational opportunities. By integrating advanced technology with expert curriculum design, Think Academy is shaping the future of learning to be more accessible, engaging, and impactful.

For media inquiries, contact:
Cecilia Qian
cecilia@impact5r.com

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SOURCE Think Academy

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MLVision M5 Unveiled at CES 2025: Pioneering Innovation in Wearable Technology with the World’s Lightest AI-Powered AR Glasses

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LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — At CES 2025, MLVision has officially launched its groundbreaking MLVision M5, setting a new global standard for wearable technology. Weighing a mere 25.8 grams, the MLVision M5 is the world’s lightest AI-powered AR glasses. The device combines cutting-edge artificial intelligence, precision engineering, and a commitment to privacy and accessibility.

“MLVision M5 is more than just a wearable device; it represents a significant breakthrough in both weight and product design,” said CEO Zhaoen Dai. “Our goal is to create smart AR glasses that feel effortless to wear, leveraging cutting-edge AR display technology and advanced AI models to genuinely help users work and live more efficiently and conveniently.”

Crafted with aviation-grade titanium and ultra-lightweight floating plastic, this device achieves an unprecedented balance between durability and comfort. Weighing only 25.8g, 40% less than traditional AR glasses, it ensures an effortless, all-day wearing experience that feels almost weightless. The ergonomic design caters to users’ needs, making it a perfect companion for both work and leisure.

This device introduces an industry-first modular design, setting a new benchmark for adaptability in AR glasses. This innovation allows users to seamlessly transition between an all-in-one configuration and a clip-on style, accommodating diverse preferences and use cases. For nearsighted users, the M5 eliminates the need for custom prescription lenses—a common limitation in traditional AR glasses. Instead, it can be conveniently clipped onto existing prescription glasses, offering unmatched practicality and cost savings. This thoughtful modularity not only enhances accessibility but also positions the MLVision M5 as a versatile solution for a broad spectrum of users.

One of MLVision M5’s standout features is its immersive visual projection system, which offers an 86-inch private virtual screen. Powered by MLVision’s proprietary Hummingbird Micro-LED light engine and advanced nano-scale diffraction waveguide technology, the glasses create a secure and private viewing experience, ideal for reading confidential documents or browsing personal files. To prioritize eye health, the device utilizes soft green light with a projection distance of 4 meters, reducing strain during extended use.

The MLVision M5 is also equipped with the AIOS platform, delivering unparalleled AI-driven capabilities to enhance user productivity and accessibility. With intelligent tools like document summarization, real-time translation in seven languages, and interactive AI chat for setting reminders and brainstorming ideas, the device seamlessly integrates into the modern workflow. Additionally, its innovative Care Mode provides real-time audio transcription, enabling a more inclusive experience for users with hearing impairments.

The MLVision M5 excels as a navigation powerhouse, offering intuitive, real-time directions to guide users seamlessly through various environments. Whether exploring a new city, finding the fastest route to your destination, or navigating while riding a bike, the M5 ensures you always stay on the right path with ease and confidence.

The MLVision M5 will launch in China at the end of January 2025. Pricing and pre-order details will be announced in the coming weeks.

MLVision, a global innovator in wearable technology, continues to push the boundaries of what is possible by merging innovation, style, and functionality. With the launch of MLVision M5, the company reinforces its commitment to accessibility, sustainability, and creating cutting-edge solutions that redefine how technology is integrated into everyday life.

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SOURCE MLVision

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Brandivio Launches Advanced Retail Allocation Platform for Inventory Excellence

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Brandivio’s inventory optimization solutions empower footwear and apparel brands and retailers to buy smarter, allocate & replenish faster, and meet demand with precision.

NEW YORK, Jan. 11, 2025 /PRNewswire-PRWeb/ — Brandivio, a new generation inventory excellence platform for apparel and footwear retailers, announces its expansion into North America, in conjunction with the National Retail Federation’s (NRF) Big Show in New York City.

The Brandivio platform addresses the unique needs of the retail allocation market, ensuring apparel and footwear retailers have innovative tools to grow and thrive,” said Keith Whaley, SVP of Retail Solutions at Brandivio.

Brandivio, already supporting top-tier brands in EMEA, is built by seasoned retail experts to solve critical inventory challenges in fashion and footwear.

Leveraging machine learning, real-time demand signals, and automation, the Brandivio platform optimizes the distribution of products across a retailer’s stores and e-commerce channels ensuring the right products are in the right places at the right times, ultimately improving sales and margin performance, customer satisfaction, and inventory efficiency.

Key Features of Brandivio –

Advanced Demand Sensing: Predict future demand for short lifecycle products using machine learning native algorithms incorporating hyper-local external datasets to map powerful demand drivers.Dynamic Inventory Allocation: Adjust inventory in real time at the SKU/location level based on in-season trends to reduce stockouts and overstock situations.Real-Time Analytics: Drive test and learn strategies, optimize assortment in-season and connect functional teams across the organization with actionable insights for rapid response to market trends.Automation: Reduce up to 80% of existing manual planning efforts and redirect planner focus towards even greater efficiencies.Ease of Use: Intuitive workflows ensure rapid adoption without extensive training.

“Retailers can no longer rely on outdated tools or seasonal strategies,” said James Townsend, CEO of Brandivio.

“Brandivio democratizes retail data science, enabling brands to level the playing field, compete effectively, and maximize profits in today’s fast-paced market.”

This launch underscores Brandivio’s mission to support U.S. retailers facing tighter margins and increasing competition. “Our platform addresses the unique needs of this market, ensuring retailers have the tools to grow and thrive,” added Keith Whaley, SVP of Retail Solutions.

Contact us for a demo at info@brandivio.com or visit Brandivio.com for more.

Media Contact

Keith Whaley, Brandivio, Inc., 1 9494453183, keith.whaley@brandivio.com, https://brandivio.com

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SOURCE Brandivio, Inc.

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