Global automotive keyless entry system market is majorly driven by the steady growth in the vehicle sales with the overall demand for the advance electric systems. Autonomous driving (AD), connected cars, and electrification of powertrain are the major trends that are mutually reinforcing developments in the automotive industry. All these trends are not only disrupting the automotive value chain and affecting all stakeholders but also are major drivers for the market. Furthermore, rising adoption of electric vehicles in also driving the demand for automotive keyless entry system.
The global auto manufacturing industry is undergoing a rapid transition from reliance on internal combustion engines (ICEs) to battery electric vehicles. This shift is essential for cutting greenhouse gas emissions in order to avoid the most catastrophic impacts of climate change and presents a major opportunity for the auto manufacturing industry. As per the IEA, China is the largest EV manufacturing country and accounted for nearly half of global EV sales in 2018. The transition to EVs is already underway globally, and policy makers coupled with industry stakeholders are continuously in discussion to determine where and how EVs, batteries, and charging infrastructure are built. International competitors, including China and countries in the European Union, are leading the buildout of EV production for their domestic markets and have signaled their interest in expanding sales worldwide and into the U.S. auto market.
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According to UnivDatos Market Insights (UMI)’ research report “Automotive Keyless Entry System Market”, the market is expected to witness a CAGR growth of around 13% during the forecast period 2021-2027F. The ever-increasing demand for passenger safety and comfort is driving car makers to focus relentlessly on creating new products and systems that allow for the efficient integration of new technology and processes. Over the projection timeframe, the major shift from the use of mechanical to smart electronic parts is expected to boost demand for automotive keyless entry systems significantly. Furthermore, due to supportive government policies coupled with rising adoption EVs would provide an advantage for automotive keyless entry system in the vehicle.
Based on Vehicle Type, the market is categorized into passenger vehicle, light commercial vehicle, and medium & heavy commercial vehicles. Among these, light commercial vehicle category is expected to witness highest CAGR during the forecast period. This is mainly due to the increasing focus of governments on electrification of public transport fleets coupled with the rising demand for zero emission vehicles in the e-commerce and logistics sector.
Based on Product Type, the automotive keyless entry system market is bifurcated into Passive Keyless Entry System (PKE) and Remote Keyless Entry System (RKE). In 2020, RKE accounted for largest share in the global automotive keyless entry system market. This is mainly due to the high adoption and integration of RKE systems in budget vehicles as well as light commercial vehicles. Moreover, RKE systems are easily available in aftermarket and thus with consumer with conventional lock systems upgrade to RKE systems due to its improved security, high convenience, and easy availability.
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Based on Sales Channel, the market is bifurcated into OEMs and aftermarket. In 2020, the OEMs category dominated the market during the historical period, primarily due to high production of vehicles and direct integration of the keyless entry systems in manufacturing of the vehicle.
Asia-Pacific dominates the market
Based on regions, the report provides detailed analysis for overall demand of Automotive Keyless Entry System for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. In 2020, owing to high vehicle production Asia-Pacific region dominates the market. The growth of the market can be attributed to the vast population and steady rise of automotive industry in the region coupled with advancement in economic conditions of people in emerging countries such as China, Indonesia, Thailand, and India.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Automotive Keyless Entry System Market are Robert Bosch GmbH, Tokai Rika Co. Ltd., DENSO Corporation, HELLA GmbH & Co., KGaA, ZF Friedrichshafen AG, Continental AG, ALPS ALPINE Co. Ltd., Mitsubishi Electric Corporation, Valeo S.A., and Microchip Technology Inc. These companies are investing heavily on Automotive Keyless Entry System to increase their customer base.
- In March 2020, Renault launched a new version of Duster with keyless entry system technology. The technology also allows starting air-conditioning before getting into the car using the remote engine start.
- In October 2020, Geotab Inc. launched a new keyless entry system for pool fleets, car sharing operators and rental companies. The digital key provides an instant solution for businesses looking for a COVID-safe, contactless way to transfer ‘keys’ between drivers.
“Automotive Keyless Entry System Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
- By Product Type (Passive Keyless Entry System (PKE) and Remote Keyless Entry System (RKE))
- By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, and Medium & Heavy Commercial Vehicles)
- By Sales Channel (OEM and Aftermarket)
- By Region (North America, Europe, Asia-Pacific, Rest of World)
- By Company (Robert Bosch GmbH, Tokai Rika Co. Ltd., DENSO Corporation, HELLA GmbH & Co., KGaA, ZF Friedrichshafen AG, Continental AG, ALPS ALPINE Co. Ltd., Mitsubishi Electric Corporation, Valeo S.A., and Microchip Technology Inc.)
Key questions answered in the study:
- What are the current and future trends of the Automotive Keyless Entry System industry?
- How the industry has been evolving in terms of vehicle type and product type category?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Automotive Keyless Entry System industry?
- What is the customer orientation, purchase behavior, and expectations from the Automotive Keyless Entry System suppliers across various countries?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 AUTOMOTIVE KEYLESS ENTRY SYSTEM MARKET COVID-19 IMPACT
6 AUTOMOTIVE KEYLESS ENTRY SYSTEM MARKET REVENUE (USD BN), 2019-2027F
7 MARKET INSIGHTS BY PRODUCT TYPE
8 MARKET INSIGHTS BY VEHICLE TYPE
9 MARKET INSIGHTS BY SALES CHANNEL
10 MARKET INSIGHTS BY REGION
11 AUTOMOTIVE KEYLESS ENTRY SYSTEM MARKET DYNAMICS
12 AUTOMOTIVE KEYLESS ENTRY SYSTEM MARKET OPPORTUNITIES
13 AUTOMOTIVE KEYLESS ENTRY SYSTEM MARKET TRENDS
14 DEMAND AND SUPPLY SIDE ANALYSIS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
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