Global Automotive Keyless Entry System Market Size By Vehicle Type(passenger cars, light commercial vehicles), By Sales Channel(OEM and Aftermarket), By Geographic Scope And Forecast

Automotive Keyless Entry System Market Size And Forecast

Automotive Keyless Entry System Market size was valued at USD 1.97 Billion in 2022 and is projected to reach USD 4.07 Billion by 2030, growing at a CAGR of 9.50% from 2023 to 2030.

The adoption of vehicle security systems in rising markets like China and India as well as developed nations like the United States and Western Europe will increase demand for these systems in the market. The Global Automotive Keyless Entry System Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive Keyless Entry System Market Definition

The automotive keyless entry systems use radiofrequency signals, which are frequently used in car engines to start and stop as well as doors, to remotely lock, unlock, and start the engine. It has a number of advantages for safety requirements in platforms for autonomous driving. Passive keyless entry systems and remote keyless entry systems are the two primary product categories in the automotive keyless entry system market. Passive keyless entry systems, which are keyless entry systems built into modern cars, enable drivers to start as well as access their vehicles while still holding their car keys in their pockets and with a significant distance between the key and the vehicle. Vehicle types include passenger cars, LCVs, and HCVs utilizing the system. The end-users of automotive keyless entry system are aftermarket as well as original equipment manufacturer (OEMS).A passive keyless entry (PKE) system allows the vehicle occupants to unlock automobile doors without using a physical key. Instead, they are opened by an electronic signal that is either received from a transmitter carried by or close to the person of potential users or through radio frequency identification technology, which uses electromagnetic fields for object tracking and identification tags attached to tags on objects. A Remote Keyless Entry (RKE) system is a kind of keyless entry system that enables a driver to remotely lock or unlock their car doors. The transmitter and receiver are the two components that make up an RKE system. The receiver is usually found inside the car, while the transmitter is typically attached to the keyring. By pressing a button on the transmitter, the driver can lock or unlock the doors by sending a signal to the receiver.

Global Automotive Keyless Entry System Market Overview

Original Equipment Manufacturers (OEMs) are increasingly adopting these systems in their vehicles. The greater security that keyless entry systems provide is the first advantage for OEMs. Additionally, they can benefit from the additional comfort and convenience that these technologies offer to both drivers and passengers. Furthermore, OEMs can set their goods apart from those of their rivals by integrating keyless entry technologies into their automobiles. As a result, their sales and market share increased. In general, OEMs are likely to use more vehicle keyless entry systems in the years to come.

In the medium term, suppliers are anticipated to release improved and integrated electronic systems, resulting in a positive outlook for the market, due to the rising demand for connected cars and the integration of smartphones. Increased sales of premium cars and regulatory measures focusing on vehicle safety are also anticipated to support market expansion.

Additionally, it is anticipated that the adoption of vehicle security systems in rising markets like China and India as well as developed nations like the United States and Western Europe will increase demand for these systems in the market. In the international vehicle market, the use of telematics, keyless entry systems, digital clusters, and high-end entertainment systems is gaining tremendous popularity.

Drivers can unlock and lock their automobiles more quickly by using little effort to lock or unlock the doors. Users now have the ease of locking or unlocking their vehicle doors by just placing the key fob in their pockets thanks to the introduction of the passive keyless entry system. Keyless entry is the best solution for drivers since they find it most helpful in situations where they need to get to their car quickly, such as emergencies or inclement weather outside. Keyless entry technology is offered by several well-known OEMs, including Audi, Acura, BMW, KIA, Mercedes-Benz, and Volvo. The immobilizer feature of the keyless entry system improves vehicle security by preventing unlawful entrance and ignition system activation. These are the systems that boost growth opportunities in the global market during the forecast period.

Global Automotive Keyless Entry System MarketSegmentation Analysis

The Global Automotive Keyless Entry System Market is segmented based on Vehicle Type, Sales Channel, and Geography.

Automotive Keyless Entry System Market, By Vehicle Type

• Passenger Cars• Light Commercial Vehicle• Commercial Vehicle

Based on vehicle type, the market is bifurcated into passenger cars, light commercial vehicles, and commercial vehicles. The market for passenger automobiles is anticipated to have the highest CAGR, at 13%, between 2022 and 2031. Due to the increasing acceptance of smart technology in passenger cars by automotive OEMs as well as the current passenger car fleet around the world, the category also held the highest share in 2022, accounting for more than half of the worldwide automotive keyless entry system market.

Automotive Keyless Entry System Market by Sales Channel

• OEM• Aftermarket

Based on Sales Channel, the market is bifurcated into OEM and Aftermarket. As OEMs implement keyless entry as a standard feature in their vehicles, the OEM segment held the biggest share in 2022, accounting for more than half of the global automotive keyless entry system market. But due to the growing acceptance of the keyless entry system among car owners and the rising desire for more convenience, the aftermarket sector is anticipated to develop at the highest CAGR of 12% throughout the projection period.

Automotive Keyless Entry System Market by Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of a Geographical Analysis, the Global Automotive Keyless Entry System Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific dominated in 2022, accounting for more than one-third of the market. In addition, the region is expected to register the highest CAGR of 14.2% during the forecast period, due to the presence of automotive OEMs as well as changing automotive production outlook.

Key Players

The “Automotive Keyless Entry System Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Alps Electric, Atmel, Calsonic Kansei, Continental Automotive, Delphi, Denso, EyeLock, HELLA, HYUNDAI MOBIS, Marquardt, Mitsubishi Electric, and others are prominent hydro turbine manufacturers operating the market.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Automotive Keyless Entry System Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Automotive Keyless Entry System Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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