Auto Industry Updates: LG Innotek Teams Up with Volvo and HaleyTek for Connected Car Developments
LG Innotek Aims to Lead in Automotive Digital Key Market
LG Innotek is making a bold move in the automotive industry, targeting dominance in the digital communication component market with its innovative Digital Key solution. This next-generation car key, set to revolutionise the way we interact with our vehicles, can be used via smartphones for opening, locking, and starting cars.
The digital key market is projected to experience significant growth, quadrupling from USD 3.0167 billion in 2023 to USD 11.3813 billion by 2033. This growth is a testament to the increasing demand for convenience and security in the automotive sector.
One of the key advantages of the Digital Key is its ability to eliminate the need for a separate physical key, reducing the risk of misplacement and theft. The solution adheres to the latest standards of the Car Connectivity Consortium (CCC) and is compatible with a wide range of smartphones, making it accessible to a broad user base. Whether you're an iOS or Android user, you can enjoy the benefits of this cutting-edge technology.
In 2022, LG Innotek took a strategic step forward with the sale of Lifco's 40% stake in HaleyTek AB to Volvo. This move underscores the company's commitment to pushing the boundaries of automotive technology.
The Digital Key solution utilises Ultra Wideband (UWB) technology, providing accurate location measurement of the connected smartphone within 10cm. This level of precision ensures a seamless and secure experience for users.
Since 2021, LG Innotek has been enhancing its Digital Key products, and has now developed a Next-Generation Digital Key solution. This upgraded version offers enhanced security features, including short-range wireless communication and hacking prevention technology, to ensure a safer and more secure user experience.
The Next-Generation Digital Key solution also promises enhanced safety and convenience for passengers. By incorporating short-range communication technologies like Bluetooth Low Energy (BLE) and UWB, the solution ensures a reliable and efficient connection between the smartphone and the vehicle.
In a world where convenience and security are paramount, LG Innotek's Digital Key solution is poised to redefine the automotive industry, making our lives easier and safer on the road.
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