MARKET OVERVIEW
A car key chip is a crucial electronic component integrated into modern car keys. It enables secure communication between the vehicle’s Engine Control Unit (ECU) and the ignition system. Here’s how it works: When the key is inserted or the ignition is activated, the ECU sends an encrypted signal to the chip. The chip receives and returns the correct anti-theft code.
MARKET SIZE & GROWTH
• The global Car Key Chips Market was valued at USD 379 million in 2024.
• It is projected to reach USD 475 million by 2031.
• The market is expected to grow at a CAGR of 3.4% during the forecast period.
