Global Automotive Keyless Entry System Market Overview
Global Automotive Keyless Entry System Market was valued at USD 2.04 Billion in 2023 and is expected to reach USD 4.62 Billion by the year 2032, at a CAGR of 9.5%.
The automobile keyless access system is an electronic lock that allows a vehicle's owner to obtain physical entry and unlock and lock the car without the need for a traditional mechanical key. The automotive keyless entry system secures access to the car by employing biometric scanning, electronic locks, radio frequency identification locks, and Bluetooth unlocking systems. The most popular method for gaining keyless entry into a car is to send a radio frequency signal from a distant transmitter to a control module/receiver in the vehicle. This radio frequency signal, or RF for short, is transferred to the automobile as an encrypted data stream. Furthermore, the global vehicle keyless access system business, particularly in Germany and the United States, is quickly expanding. Furthermore, rising vehicle sales in developing economies, the convenience of keyless entry systems, and increasing regulatory regulations focusing on vehicular safety are expected to drive demand for automotive keyless access systems throughout the projected period.
Market Dynamics and Factors:
Drivers
Growing car sales in developing and developed countries.
Growing car sales, as well as rising safety and security concerns, particularly in emerging nations, are the primary drivers of market expansion. Advanced applications for the keyless entry control system include safety features such as opening the tailgate, front and rear seat settings, tire pressure monitoring systems, automobile alarms, light control, and multimedia file storage. Additionally, strict automobile safety requirements such as the Canadian Motor Vehicle Safety Standards, the Bharat New Car Assessment Program (BNCAP), and the Federal Motor Vehicle Safety Standards are in place (FMVSS). As a result, the use of automotive keyless vehicle entry systems is predicted to increase, supporting market growth over the forecast period.
Rising installation of keyless entry systems in commercial vehicles.
The rising advancement in add-on technological features in commercial vehicles boosting the automotive keyless entry system market. The need for keyless entry systems in goods transport vehicles, as well as supply chain trucks and vans, provide a promising application. Many commercial vehicles are now installing keyless entry systems in the vehicle to easy and quick access while delivering the goods and services. Therefore, it is estimated to be boosting the automotive keyless entry system market.
Restraints
Over the last two decades, passenger automobiles and commercial vehicles have evolved from mechanical to electronically controlled machines. The data transfer between these keyless entry devices and the car is often powered by an RF or Bluetooth signal, which raises the danger of cyberattack. Furthermore, the customer finds it difficult to adjust to the keyless access system, and the cost of repair and maintenance is quite expensive; all of these primary concerns function as market restrictions.
Opportunities
With the advancement of car electronics, manufacturers were able to build the contemporary ignition system and convert it to a push-button system. This system is linked to an ignition system that uses signals from the key fob to turn on the car. Over the predicted period, such high-end systems will change the automobile sector. Keyless entry access systems are being significantly invested in by major automotive manufacturers. Many automotive manufacturers are introducing new models, as well as updated versions of existing ones, that have keyless entry access system technology. Renault, for example, introduced a new version of the Duster featuring keyless entry technology in March 2020. The remote engine start feature also allows activating the air conditioning before getting inside the car. Kia and Hyundai, two South Korean automakers, are investing in research and development for the Keyless Entry Access System. Kia introduced the Carnival with a keyless entry system in February 2020, while Hyundai introduced a new version of the Creta with a keyless entry system in March 2020.
Challenges
Although a keyless entry system provides convenience to owners of the vehicles to access the vehicles remotely, a certain challenging factor can affect the market adversely. The repair and replacement costs are relatively higher as the chips and sensors involved in the system are not cost-efficient at all. The biggest hurdle to getting keyless entry and starting with the vehicle is the pricing. If the keyless entry doesn't come with most of the vehicle, the aftermarket kit has to install special modules into the vehicle to enable the feature. The replacement can get pricey as well due to the unique nature of the transponder codes. Reprogramming a key fob is much pricier than re-cutting and re-coding a key.
Market Segmentation
By Product, Remote Keyless Entry Systems dominate the Automotive Keyless Entry System Market. Because of greater security, better access control, and high convenience, the RKES category dominates the market. End-users prefer it, and it's found in a wide range of automobiles, including budget and premium vehicles. Remote keyless entry is a car security access solution that uses digital keys stored on a mobile phone to operate. The app allows the user to access the car and start the engine. Passive keyless entry is an automobile security system that activates and unlocks the vehicle doors when a user with a key approaches the system's operation region around the vehicle. It also allows the start of a vehicle with only a push of a button and without having to be put into the vehicle. In addition, the segment's growth will be fueled by its lower cost than PKES and greater functionality over standard keys throughout the projection period.
By Application, Passenger cars are dominating in the application segment of the Automotive Keyless Entry System Market. The keyless entry feature in the passenger vehicle is a value-adding feature which allow allows convenience to the owner of the vehicle. Most of the brand's premium includes the keyless entry system. Rising automation in the passenger vehicles lures in the larger potential customers which demands the extra specifications and value-adding technologies in the car. Therefore, the automobile manufacturer is constantly investing in developing such technology which can add technological competitiveness to the market. A growing number of automobile owners can also boost the aftermarket automotive keyless entry systems.
Players Covered in Automotive Keyless Entry System market are :
- DENSO CORPORATION
- HELLA GmbH & Co. KGaA
- ZF Friedrichshafen AG
- Continental AG
- ALPS ALPINE CO. LTD
- Mitsubishi Electric Corporation
- Valeo S.A
- Microchip Technology Inc
- Robert Bosch GmbH
- NXP Semiconductors and others major layers.
Regional Analysis of Automotive Keyless Entry System Market
North America is dominating the Automotive Keyless Entry System Market. Because of growing purchasing power parity (PPP), greater involvement of the area's main automotive businesses, and suitable technical infrastructure, the North American region generates higher demand for vehicle keyless entry systems. The OEMs and aftermarket options are equally adopted customers, especially in the United States and Canada. Furthermore, the United States, Mexico, and Canada account for the majority of the market's income. Furthermore, rising internet penetration and an increase in the number of smartphone users are propelling the automobile sector forward, further boosting market expansion.
Due to the implementation of severe safety requirements, rising penetration of expensive automobiles, and key companies such as Mitsubishi Electric, Continental AG, Alps Automotive Inc., and Denso Corporation, Asia Pacific is likely to emerge as the most profitable regional market. Over the projection period, rising markets such as India, Japan, South Korea, and China will fuel market expansion. Furthermore, with a CAGR of 12.4% between 2021 and 2028, Europe is predicted to become the second-fastest-growing industry in terms of growth. Furthermore, modern car safety features like intrusion alarms, theft assist, keyless entry, and others are being adopted by nations in the Rest of the World (RoW), which is fuelling the market's growth.
Covid19 Impact on Automotive Keyless Entry System Market
The coronavirus pandemic forced countries into a brief state of lockdown, which hindered various industries and enterprises on a significant scale. The automobile sector is facing several issues, including a labor shortage and even supply chain disruptions. Furthermore, this has impacted the supply chain of global automakers, particularly those who rely on China for manufactured goods, components, or raw materials. Thus, the majority of the automotive manufacturers were pushed to work on limited capacity due to reduced demand from the passenger vehicle in the domestic sector. The majority of lower and medium-priced segment vehicles include a basic keyless entry system and for that segment the customer base is large. Due to lockdown and closed businesses, demand for vehicles from the general population has reduced significantly which directly reflected on the automotive keyless entry system market. On the other hand, the new norm of not touching surfaces may have a minor influence on market growth shortly.
Key Industry Developments in the Global Automotive Keyless Entry System Market
- In September 2023, Autonomy, the largest electric vehicle subscription company in the U.S., and EV Mobility, LLC, the leading all-electric vehicle car-sharing platform, announced a strategic agreement. Under this deal, Autonomy will acquire the technology, assets, and customer accounts of EV Mobility upon the fulfillment of certain conditions. The acquisition aims to enhance access to electric vehicles for individuals with a valid driver's license, credit card, and smartphone, offering flexible vehicle access on an hourly, daily, weekly, monthly, or annual basis to a broader market.
- June 2021, HELLA launches digital car key with ultra-wideband technology, this new technology offers the greatest possible convenience using completely hands-free, smartphone-based vehicle access with the highest safety.
Global Automotive Keyless Entry System Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2022 |
Market Size in 2023: |
USD 2.04 Bn. |
Forecast Period 2022-28 CAGR: |
9.5% |
Market Size in 2032: |
USD 4.62 Bn. |
Segments Covered: |
By Type |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
ā1.1 Research Objectives
ā1.2 Research Methodology
ā1.3 Research Process
ā1.4 Scope and Coverage
āā1.4.1 Market Definition
āā1.4.2 Key Questions Answered
ā1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
ā3.1 By Type
ā3.2 By Application
Chapter 4: Market Landscape
ā4.1 Porter's Five Forces Analysis
āā4.1.1 Bargaining Power of Supplier
āā4.1.2 Threat of New Entrants
āā4.1.3 Threat of Substitutes
āā4.1.4 Competitive Rivalry
āā4.1.5 Bargaining Power Among Buyers
ā4.2 Industry Value Chain Analysis
ā4.3 Market Dynamics
āā4.3.1 Drivers
āā4.3.2 Restraints
āā4.3.3 Opportunities
āā4.5.4 Challenges
ā4.4 Pestle Analysis
ā4.5 Technological Roadmap
ā4.6 Regulatory Landscape
ā4.7 SWOT Analysis
ā4.8 Price Trend Analysis
ā4.9 Patent Analysis
ā4.10 Analysis of the Impact of Covid-19
āā4.10.1 Impact on the Overall Market
āā4.10.2 Impact on the Supply Chain
āā4.10.3 Impact on the Key Manufacturers
āā4.10.4 Impact on the Pricing
Chapter 5: Automotive Keyless Entry System Market by Type
ā5.1 Automotive Keyless Entry System Market Overview Snapshot and Growth Engine
ā5.2 Automotive Keyless Entry System Market Overview
ā5.3 Passive Keyless Entry Systems
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size (2017-2032F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Passive Keyless Entry Systems: Grographic Segmentation
ā5.4 Remote Keyless Entry Systems Fast
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size (2017-2032F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Remote Keyless Entry Systems Fast: Grographic Segmentation
Chapter 6: Automotive Keyless Entry System Market by Application
ā6.1 Automotive Keyless Entry System Market Overview Snapshot and Growth Engine
ā6.2 Automotive Keyless Entry System Market Overview
ā6.3 Passenger Cars
āā6.3.1 Introduction and Market Overview
āā6.3.2 Historic and Forecasted Market Size (2017-2032F)
āā6.3.3 Key Market Trends, Growth Factors and Opportunities
āā6.3.4 Passenger Cars: Grographic Segmentation
ā6.4 Commercial Vehicles
āā6.4.1 Introduction and Market Overview
āā6.4.2 Historic and Forecasted Market Size (2017-2032F)
āā6.4.3 Key Market Trends, Growth Factors and Opportunities
āā6.4.4 Commercial Vehicles: Grographic Segmentation
Chapter 7: Company Profiles and Competitive Analysis
ā7.1 Competitive Landscape
āā7.1.1 Competitive Positioning
āā7.1.2 Automotive Keyless Entry System Sales and Market Share By Players
āā7.1.3 Industry BCG Matrix
āā7.1.4 Ansoff Matrix
āā7.1.5 Automotive Keyless Entry System Industry Concentration Ratio (CR5 and HHI)
āā7.1.6 Top 5 Automotive Keyless Entry System Players Market Share
āā7.1.7 Mergers and Acquisitions
āā7.1.8 Business Strategies By Top Players
ā7.2 DENSO CORPORATION
āā7.2.1 Company Overview
āā7.2.2 Key Executives
āā7.2.3 Company Snapshot
āā7.2.4 Operating Business Segments
āā7.2.5 Product Portfolio
āā7.2.6 Business Performance
āā7.2.7 Key Strategic Moves and Recent Developments
āā7.2.8 SWOT Analysis
ā7.3 HELLA GMBH & CO. KGAA
ā7.4 ZF FRIEDRICHSHAFEN AG
ā7.5 CONTINENTAL AG
ā7.6 ALPS ALPINE CO. LTD
ā7.7 MITSUBISHI ELECTRIC CORPORATION
ā7.8 VALEO S.A
ā7.9 MICROCHIP TECHNOLOGY INC.
ā7.10 ROBERT BOSCH GMBH
ā7.11 NXP SEMICONDUCTORS
ā7.12 OTHER MAJOR LAYERS
Chapter 8: Global Automotive Keyless Entry System Market Analysis, Insights and Forecast, 2017-2032
ā8.1 Market Overview
ā8.2 Historic and Forecasted Market Size By Type
āā8.2.1 Passive Keyless Entry Systems
āā8.2.2 Remote Keyless Entry Systems Fast
ā8.3 Historic and Forecasted Market Size By Application
āā8.3.1 Passenger Cars
āā8.3.2 Commercial Vehicles
Chapter 9: North America Automotive Keyless Entry System Market Analysis, Insights and Forecast, 2017-2032
ā9.1 Key Market Trends, Growth Factors and Opportunities
ā9.2 Impact of Covid-19
ā9.3 Key Players
ā9.4 Key Market Trends, Growth Factors and Opportunities
ā9.4 Historic and Forecasted Market Size By Type
āā9.4.1 Passive Keyless Entry Systems
āā9.4.2 Remote Keyless Entry Systems Fast
ā9.5 Historic and Forecasted Market Size By Application
āā9.5.1 Passenger Cars
āā9.5.2 Commercial Vehicles
ā9.6 Historic and Forecast Market Size by Country
āā9.6.1 U.S.
āā9.6.2 Canada
āā9.6.3 Mexico
Chapter 10: Europe Automotive Keyless Entry System Market Analysis, Insights and Forecast, 2017-2032
ā10.1 Key Market Trends, Growth Factors and Opportunities
ā10.2 Impact of Covid-19
ā10.3 Key Players
ā10.4 Key Market Trends, Growth Factors and Opportunities
ā10.4 Historic and Forecasted Market Size By Type
āā10.4.1 Passive Keyless Entry Systems
āā10.4.2 Remote Keyless Entry Systems Fast
ā10.5 Historic and Forecasted Market Size By Application
āā10.5.1 Passenger Cars
āā10.5.2 Commercial Vehicles
ā10.6 Historic and Forecast Market Size by Country
āā10.6.1 Germany
āā10.6.2 U.K.
āā10.6.3 France
āā10.6.4 Italy
āā10.6.5 Russia
āā10.6.6 Spain
āā10.6.7 Rest of Europe
Chapter 11: Asia-Pacific Automotive Keyless Entry System Market Analysis, Insights and Forecast, 2017-2032
ā11.1 Key Market Trends, Growth Factors and Opportunities
ā11.2 Impact of Covid-19
ā11.3 Key Players
ā11.4 Key Market Trends, Growth Factors and Opportunities
ā11.4 Historic and Forecasted Market Size By Type
āā11.4.1 Passive Keyless Entry Systems
āā11.4.2 Remote Keyless Entry Systems Fast
ā11.5 Historic and Forecasted Market Size By Application
āā11.5.1 Passenger Cars
āā11.5.2 Commercial Vehicles
ā11.6 Historic and Forecast Market Size by Country
āā11.6.1 China
āā11.6.2 India
āā11.6.3 Japan
āā11.6.4 Singapore
āā11.6.5 Australia
āā11.6.6 New Zealand
āā11.6.7 Rest of APAC
Chapter 12: Middle East & Africa Automotive Keyless Entry System Market Analysis, Insights and Forecast, 2017-2032
ā12.1 Key Market Trends, Growth Factors and Opportunities
ā12.2 Impact of Covid-19
ā12.3 Key Players
ā12.4 Key Market Trends, Growth Factors and Opportunities
ā12.4 Historic and Forecasted Market Size By Type
āā12.4.1 Passive Keyless Entry Systems
āā12.4.2 Remote Keyless Entry Systems Fast
ā12.5 Historic and Forecasted Market Size By Application
āā12.5.1 Passenger Cars
āā12.5.2 Commercial Vehicles
ā12.6 Historic and Forecast Market Size by Country
āā12.6.1 Turkey
āā12.6.2 Saudi Arabia
āā12.6.3 Iran
āā12.6.4 UAE
āā12.6.5 Africa
āā12.6.6 Rest of MEA
Chapter 13: South America Automotive Keyless Entry System Market Analysis, Insights and Forecast, 2017-2032
ā13.1 Key Market Trends, Growth Factors and Opportunities
ā13.2 Impact of Covid-19
ā13.3 Key Players
ā13.4 Key Market Trends, Growth Factors and Opportunities
ā13.4 Historic and Forecasted Market Size By Type
āā13.4.1 Passive Keyless Entry Systems
āā13.4.2 Remote Keyless Entry Systems Fast
ā13.5 Historic and Forecasted Market Size By Application
āā13.5.1 Passenger Cars
āā13.5.2 Commercial Vehicles
ā13.6 Historic and Forecast Market Size by Country
āā13.6.1 Brazil
āā13.6.2 Argentina
āā13.6.3 Rest of SA
Chapter 14 Investment Analysis
Chapter 15 Analyst Viewpoint and Conclusion
Global Automotive Keyless Entry System Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2022 |
Market Size in 2023: |
USD 2.04 Bn. |
Forecast Period 2022-28 CAGR: |
9.5% |
Market Size in 2032: |
USD 4.62 Bn. |
Segments Covered: |
By Type |
|
|
By Application |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
|
Frequently Asked Questions :
The forecast period in the Automotive Keyless Entry System Market research report is 2024-2032.
DENSO CORPORATION, HELLA GmbH & Co. KGaA, ZF Friedrichshafen AG, Continental AG, ALPS ALPINE CO. LTD, Mitsubishi Electric Corporation, Valeo S.A, Microchip Technology Inc, Robert Bosch GmbH, NXP Semiconductors, and Other Major Players.
Automotive Keyless Entry System Market is segmented into Type, Application, and region. By Type, the market is categorized into Passive Keyless Entry Systems, Remote Keyless Entry Systems Fast. By Application, the market is categorized into Passenger Cars, Commercial Vehicles. By region, it is analysed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
The automobile keyless access system is an electronic lock that allows a vehicle's owner to obtain physical entry and unlock and lock the car without the need for a traditional mechanical key. The automotive keyless entry system secures access to the car by employing biometric scanning, electronic locks, radio frequency identification locks, and Bluetooth unlocking systems.
Global Automotive Keyless Entry System Market was valued at USD 2.04 Billion in 2023 and is expected to reach USD 4.62 Billion by the year 2032, at a CAGR of 9.5%.