Global Automotive Keyless Entry Systems Market was valued at USD 1,164.0 million in 2021 and is expected to reach USD 3,450.19 million by 2029, registering a CAGR of 12.70% during the forecast period of 2022-2029. “Passive keyless entry system (PKE) " accounts for the largest product type segment in the automotive keyless entry systems market owing to its higher convenience and better security to the vehicle than traditional remote keyless entry system.
Automotive Keyless Entry Systems Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Growing Focus On Stringent Regulations
The increasing regulatory policies that focus on vehicular safety is projected to accelerate the growth of the market. Imposition of the stringent regulations across the globe will cushion the market’s growth.
- Increased Demand Due To Its Advantageous Properties
Moreover, the automotive keyless entry systems offers various benefits as it provides high convenience and enhances the security of the vehicle. The growing focus on high comfort and convenience along with demand for high security vehicles will bolster the growth of the market.
- Growth In Opportunities Across The Economies
Furthermore, rising awareness of technologically advanced vehicle security systems in developed nations, such as the US, Germany, France, Japan and emerging nations such as China and India generate profitable opportunities to the market players in the forecast period of 2022 to 2029.
- Rising Development
Rising demand for connected, autonomous, semi-autonomous cars and the integration of smartphones will witness an increased demand which will further expand the future growth of the automotive keyless entry systems market. Moreover, implementation of telematics, keyless entry systems, digital clusters, and high-end infotainment systems along with the rising trend toward alternate vehicle entry also uplifts the growth for the market.
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Restraints/Challenges
- Fluctuating Prices
The price volatility of raw materials of semiconductors and other electronic components will create hindrances for the growth of the automotive keyless entry systems market.
- Rising Concerns Regarding Environment
The automotive keyless entry system runs on the vehicle’s battery which is likely to lead to faulty operation owing to low battery power which will challenge the automotive keyless entry systems market.
This automotive keyless entry systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive keyless entry systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post COVID-19 Impact on Automotive Keyless Entry Systems Market
The recent outbreak of COVID-19 has critically impacted the automotive sector across the globe. This automotive keyless entry systems market, was also negatively impacted. The various restrictions as different regions' governments have already declared total lockdowns and temporary shutdowns of industries affected the overall production and sales of automotive keyless entry systems market. Various lockdown and social distancing restrictions led to uncertainty by slowing supply chains, stifling business growth, and instilling fear among customer segments. As a result, the automotive industry had to bear financial losses, therefore negatively impacting the automotive keyless entry systems market.
On the brighter side, the market is estimated to recovery quickly owing to the new technological advancements, focus of manufacturers towards developing better automotive, keeping in mind the new market trends to fulfil consumer requirements in the post-pandemic phase, will further help to excel the availability of automotive keyless entry systems in the developing and emerging markets post pandemic.
Recent Development
In March 2020, Renault has introduced a new Duster model with keyless entry technology. The remote engine start feature also allows you to activate the air conditioning before getting inside the car.
Global Automotive Keyless Entry Systems Market Scope
The automotive keyless entry systems market is segmented on the basis of product type, end-user and vehicle type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Passive Keyless Entry System (PKE)
- Remote Keyless Entry System (RKE)
On the basis of product type, the automotive keyless entry systems market has been segmented into passive keyless entry system (PKE) and remote keyless entry system (RKE). Passive keyless entry system (PKE) is estimated to witness the fastest growth within forecast period as it offers higher convenience and better security to the vehicle than traditional remote keyless entry system.
End-user
- Aftermarket
- Original Equipment Manufacturer (OEMs))
On the basis of end-user, the automotive keyless entry systems market has been segmented into aftermarket and original equipment manufacturer (OEMs)).
Vehicle Type
- Light Duty Vehicle Keyless Entry System
- Medium and Heavy Duty Vehicle Entry System
- Passenger Car Keyless Entry system
On the basis of vehicle type, the automotive keyless entry systems market is segmented into light duty vehicle keyless entry system, medium and heavy duty vehicle entry system and passenger car keyless entry system.
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Automotive Keyless Entry Systems Market Regional Analysis/Insights
The automotive keyless entry systems market is analysed and market size insights and trends are provided by country, product type, end-user and vehicle type as referenced above.
The countries covered in the automotive keyless entry systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the automotive keyless entry systems market because of the owing to the preference for luxury vehicles and the rising adoption of vehicle security systems.
Asia-Pacific, on the other hand, is estimated to register a significant growth owing to the increase in demand for automotive safety systems in countries, such as China, India, and Japan.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Keyless Entry Systems Market Share Analysis
The automotive keyless entry systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive keyless entry systems market.
Some of the major players operating in the automotive keyless entry systems market are ZF Friedrichshafen AG (Germany), Marelli Corporation (Japan), Continental AG (Germany), Denso Corporation (Japan), HELLA GmbH & Co. KGaA. (Germany), Synaptics Incorporated (U.S)., OMRON Corporation (Japan), TOKAIRIKA,CO, LTD., (Japan), ARCO Lock (US), MOBIS INDIA LIMITED (South Korea), and Robert Bosch GmbH (Germany), Aptiv, FCCID (U.S), and Microchip Technology Inc., (U.S) among others.
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