According to a new report published by Introspective Market Research, titled, “Automotive Keyless Entry System Market by Type (Passive Keyless Entry Systems, Remote Keyless Entry Systems Fast), Application (Passenger Cars, Commercial Vehicles), Region Global Market Analysis and Forecast, 2024-2032. Global Automotive Keyless Entry System Market was valued at USD 2.05 Billion in 2023 and is expected to reach USD 4.79 Billion by the year 2032, at a CAGR of 9.9 %.
A car keyless entry system is an electronic lock that allows the vehicle owner to physically enter, unlock, and lock the car without a traditional mechanical key. The car keyless system provides access to the car using biometric scanning, electronic locks, radio frequency identification locks, and Bluetooth unlocking systems. The most popular way to enter a car without a key is to send a radio frequency signal from a remote transmitter to the vehicle's control module/receiver. This radio frequency signal, or RF for short, is transmitted to the car as an encrypted data stream. In addition, the business of keyless entry systems for vehicles is growing rapidly, especially in Germany and the United States. Additionally, growth in automobile sales in emerging economies, an increase in the convenience of keyless entry systems, and regulations focusing on vehicle safety are expected to drive the demand for automobile keyless entry systems during the forecast period.
Growing sales of automobiles and growing safety and security concerns, especially in emerging economies, are the main drivers for market expansion. Advanced applications of the keyless entry control system include safety features such as rear door unlocking, front and rear seat adjustments, tire pressure monitoring systems, car alarms, lighting control, and multimedia file storage. In addition, there are strict car safety standards such as the Canadian Motor Vehicle Safety Standards, Bharat New Car Assessment Program (BNCAP), and Federal Motor Vehicle Safety Standards (FMVSS). As a result, the use of keyless vehicle entry systems in automobiles is projected to increase, supporting the growth of the market during the forecast period.
With the development of automotive electronics, manufacturers have been able to build a modern switch and convert. it into a push system. button system. This system is connected to the ignition system, which uses signals from the key to start the car. During the forecast period, such state-of-the-art systems will transform the automobile industry. Major car manufacturers are investing heavily in keyless entry systems. Many car manufacturers are introducing both new models and updated versions of existing ones with keyless entry systems. For example, Renault presented a new version of the Duster with keyless entry technology in March 2020. The remote engine start function also allows you to activate the air conditioner before entering the car. Two South Korean automakers, Kia and Hyundai, are investing in research and development of a keyless entry system. Kia launched the keyless Carnival in February 2020, while Hyundai launched a new version of the Creta with a keyless system in March 2020.
Global Automotive Keyless Entry System Market, Segmentation
The Automotive Keyless Entry System market is segmented based on Type, application, and region.
Type:
The market for keyless entry systems for cars is dominated by remote controls. With greater security, better access control, and ease of use, the RKES class dominates the market. It is preferred by end users and is found in many cars, including budget and premium vehicles. Remote keyless entry is a car security solution that uses digital keys stored in a mobile phone. The program allows the user to access the car and start the engine. Passive keyless entry is a car security system that activates and unlocks the vehicle's doors when the user with the key approaches the system's operating area around the vehicle. It also allows you to start the vehicle with the push of a button without having to put it in the vehicle. Moreover, the lower cost and higher functionality of PKES compared to conventional keys will fuel the segment growth during the forecast period.
Application:
Passenger cars dominate the automotive keyless system market in the application segment. Keyless The car keyless function is an added feature that provides convenience to the vehicle owner. Most of the brand's Premium includes a keyless door system. The increasing automation of passenger cars attracts larger potential customers, which requires the car to have additional technical functions and technologies that create added value. That is why the car manufacturer constantly invests in the development of technology that can increase technological competitiveness in the market. An increasing number of car owners may also increase aftermarket keyless entry systems.
Region:
North America currently dominates the Automotive Keyless Entry System market due to factors such as increasing purchasing power parity, strong presence of major automotive companies, and advanced technical infrastructure, especially in the US and Canada. Both OEM and aftermarket options are widely used by customers in this region, with the US, Mexico, and Canada contributing significantly to market revenue. In addition, the growth of the North American automotive industry is driven by the increasing penetration of the Internet and smartphones.
Strong safety regulations, proliferation, and presence of advanced vehicles in the Asia-Pacific region. industry key players such as Mitsubishi Electric, Continental AG, Alps Automotive Inc., and Denso Corporation, are poised for their most lucrative regional market. Countries such as India, Japan, South Korea, and China are expected to contribute to the market growth, while Europe is expected to be the second fastest-growing market with a CAGR of 12.4% during 2021-2028.
Some of The Leading/Active Market Players Are-
- Microchip Technology Inc (U.S)
- Denso Corporation (Japan)
- Hella Gmbh & Co. Kgaa (Germany)
- Zf Friedrichshafen Ag (Germany)
- Continental Ag (Germany)
- Alps Alpine Co. Ltd (Japan)
- Mitsubishi Electric Corporation (Japan)
- Valeo S.A (France)
- Robert Bosch Gmbh (Germany)
- Nxp Semiconductors (Netherland) Other Active Players
Key Industry Developments
- In February 2024, The US digital therapy market is projected to grow at a CAGR of 25% from 2022 to 2030, with DTx solutions providing remote monitoring and personalized management of chronic, respiratory, neurological, and mental health conditions. These program-based interventions provide evidence-based care on their own or in combination with other therapies, improving patient care through real-time monitoring and treatment plan customization.
- In July 2023, Microchip announced a $300 million multi-year investment plan to expand its presence in India. Infrastructure, engineering labs, talent acquisition, and help from regional technology groups and educational institutions are all part of the expansion.
Key Findings of the Study
- Major automakers such as Renault, Kia, and Hyundai are actively introducing new models and upgrading existing ones with keyless technology, reflecting the industry's strong focus on innovation.
- North America leads the market, supported by strong purchasing power and strong purchasing power. presence of automobile companies and advanced technical infrastructure. However, Asia Pacific, led by countries such as Japan, China, and India, is poised for significant growth and is attracting key players in the industry.
- Remote Keyless Entry System (RKES) dominates the market due to superior security and access. control and convenience as passive keyless systems gain traction due to their cost-effectiveness and functionality.
