Automotive Keyless Entry Systems Market Analysis
The global automotive keyless entry systems market size is predicted to develop at 6.8% CAGR between 2019- 2025, states the recent Market Research Future (MRFR) analysis. An automotive keyless entry system, simply put, is an electronic lock that offers physical access of cars to a user and helps the unlocking and locking operation sans the use of conventional mechanical keys for convenience and high security to the driver.
Various factors are propelling the global automotive keyless entry systems market share. According to the recent MRFR report, such factors include growing demand for vehicle security and safety features, the launch of advanced electronic vehicle entry systems, an increase in automotive production, awareness about sophisticated features, and demand for luxury vehicles. Additional factors adding market growth include growing adoption of advanced car sensors, integration of passive safety features such as sensor-guided features, electronic features, stronger chassis, airbags, and seatbelts, and development in automotive sensors.
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On the contrary, the volatility of raw material prices of semiconductors as well as other electronic components and the adverse effects of the COVID-19 outbreak may hamper the global automotive keyless entry systems market growth over the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global automotive keyless entry systems market based on product type, sales channel, and vehicle type.
By product type, the global automotive keyless entry systems market is segmented into RKE and PKE. Of these, the PKE product type segment will lead the market over the forecast period.
By vehicle type, the automotive keyless entry systems market is segmented into heavy commercial vehicle, light commercial vehicle, and passenger cars. Of these, the passenger cars vehicle type will dominate the market over the forecast period.
By sales channel, the global automotive keyless entry systems market is segmented into aftermarket and OEM. Of these, the aftermarket sales channel segment will have a major share in the market over the forecast period.
Research Analysis
Based on the region, the keyless entry systems market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. The region being the largest consumer and manufacturer of new cars, increase in per capita disposable income, growing awareness about convenience and vehicle safety, growth in technologically advanced systems, higher vehicle production, presence of OEMs, and presence of solution and service providers that develop automotive keyless entry systems based on needs are adding to the global automotive keyless entry systems market growth in the region.
In North America, the automotive keyless entry systems market is predicted to have healthy growth over the forecast period. The need for ease in accessibility vehicle handling and burgeoning demand for automotive keyless entry systems is adding to the global automotive keyless entry systems market growth in the region.
The automotive keyless entry systems market in Europe is predicted to have notable growth over the forecast period for increasing focus of OEMs on stringent regulations to improve technology, which needs high investment in the research and development.
In the RoW, the automotive keyless entry systems market is predicted to have sound growth over the forecast period for an economic recovery that is boosting its sales.
Key Players
Eminent players profiled in the global automotive keyless entry systems market report include Robert Bosch GmbH (Germany), Hyundai Mobis (South Korea), ARCO Lock Security ENTERN LLC (US), HELLA KGAA Hueck Co. (Germany), Denso Corporation (Japan), Delphi Automotive (Ireland), Continental Automotive GmbH (Germany), Calsonic Kansei Corporation (Japan), Atmel Corporation (US), and TRW Automotive Holdings Corporation (US).
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