APAC to dominate Automotive Keyless Entry Market

Arizton’s recent market research report on the global automotive keyless entry market identifies Aptiv, Continental AG, Hella, Valeo, and ZF TRW Automotive as the major vendors in the market. This research report provides a comprehensive industry analysis, trend forecasts, and the competitive landscape. The research study segments the market by product (RKE systems and PKE systems), end-user (OEM and aftermarket), vehicle (passenger cars, LCVs, and HCVs), and geography (APAC, Europe, North America, Latin America, and MEA).

The global automotive keyless entry market is expected to manufacture around 180 million units by 2024, growing at a CAGR of approximately 8% during 2018–2024.

A rapid shift toward digitization has spurred advancements in the automotive safety and autonomous driving platform. The rising number of vehicle thefts is one of the key factors driving the automotive security market worldwide.

In 2018, the US, Mexico, and Canada were the major revenue contributors to the growth of the automotive keyless entry system market in North America.

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The automotive keyless entry market is divided into four major segments - product, vehicle, end-user, and geography.

The remote keyless entry (RKE) system is likely to dominate the automotive keyless entry market

RKE systems allow the driver to unlock and lock vehicle doors through transmitters as and when the button on the key fob is pushed without putting any effort toward manually unlocking or locking vehicle doors. These systems have gained rapid adoption among consumers due to the convenience and added security for vehicle theft the offer, making them the most predominant vehicle entry systems globally. In 2018, the remote keyless entry system (RKE) segment dominated the global automotive keyless entry systems market with a share of over 75% in terms of shipments. The increasing demand for driver safety, convenience, and strong strides toward reducing unauthorized vehicle access is likely to drive the global automotive keyless entry market during the forecast period. This segment is expected to reach over 120 million units by 2024. In 2007, GM introduced its RKE system with an operating range of about 492 ft. or 150 meters. Currently, RKE systems provide over 1,640 ft. or 500 meters of the operating range.  

The passenger car segment to emerge as the largest segment in the automotive keyless entry market

In 2018, the passenger cars segment dominated the global automotive keyless entry system market with a share of over 80% in terms of shipments. The passenger car segment is expected to be the key market for keyless entry systems due to strong awareness and the relatively less price sensitive consumer segment. This segment has evolved from RKE systems to PKE ones. The passenger car segment is expected to reach over 140 million units by 2024, growing at a CAGR of over 7%.APAC countries such as China, India, Indonesia, South Korea, Thailand, and Vietnam are expected to merge as key markets for passenger cars due to their strong middle-class population and steady GDP growth. Passenger cars are expected to witness increased electrification, downsizing of engines, and the adoption of electric and hybrid vehicles during the forecast period. Keyless entry systems for the passenger car segment can further be divided into OEM (factory fitted keyless equipment) and aftermarket (replaced due to malfunction of the existing system or add-on features into cars that are not equipped with keyless entry systems).

APAC to grow at a promising CAGR during the forecast period

APAC was the third-largest region in the global automotive keyless entry market with a market share of 17% (unit shipment) in 2018. China, Japan, and South Korea are the main growth drivers in the APAC region.The increasing penetration of luxury cars segment, rapid urbanization, safety systems, and the adoption of stringent safety and emission norms are the primary drivers of the automotive keyless entry system market in the APAC region. The increasing demand and sale of SUVs(over 30%) was the main driver for the strong performance of the automotive market in the APAC region. China is also witnessing a surge in demand for SUVs. In 2017, over 10 million units of SUVs were sold in China alone. The inclusion of safety systems in SUVs will form a strong base for the growth of automotive keyless entry systems in the future year.

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Advanced Keys, Alps Electric,Bosch,Calsonic Kansei,DENSO,Directed Electronics,Hyundai MOBIS,Lear Corp.,Marquardt, Microchip Technology (Atmel), MITSUBISHI ELECTRIC, OMRON Automotive Electronics, PANASONIC, Tokai Rika, Voxx International, Silicon Laboratories, Schaffner Holding, and Automotive Data Solutions are the other prominent vendors in the automotive keyless entry market.

The complete overview of the latest market research report on the global automotive keyless entry market by Arizton is now available.

The report offers a detailed study of major trends, drivers, challenges, and provides market sizing and forecast for major geographical regions and key countries.

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