Automotive Keyless Entry System Market to Witness Shipment Worth 158 Million Units by 2023
Arizton’s recent market research report on the automotive keyless entry system market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product (RKE systems and PKE systems), by end-user type (OEM market and aftermarket), vehicle type (passenger cars, LCVs, and HCVs), by geography (APAC, Europe, North America, Latin America, and MEA), and offers detailed competitive analysis.
The automotive keyless entry system market is expected to grow at a CAGR of more than 7% during the forecast period. . The rapid technological innovation and integration with smartphones and other connected devices will encourage OEMs to launch upgraded systems in the global market.
Request for your free sample today!
The top 3 drivers and trends attributing to the growth of the automotive keyless entry system market are discussed below:
High Adoption Driven by Increased Convenience Offered by Keyless Entry Systems
The benefit of convenience and the minimal effort required to unlock and lock vehicle doors for quick entering and existing cars are driving the growth of the global automotive keyless entry system market. The launch of systems that offers central locking mechanism where the driver can unlock or lock doors for anyone will transform the global automotive industry. The evolution of PKE systems that provides convenience to users which allows them to lock or unlock the vehicle just by placing the key fob in their pocket will boost the demand for these systems in the global market. The declining price trend of these systems will enable OEM and aftermarket vendors to boost the implementation of these devices in low and mid-priced cars in the global automotive keyless entry system market. The integration of keyless systems with other vehicle functions such as ignition system led to the introduction of start-stop button ignition and transforming the global market. The launch of additional features such as the tire pressure monitoring system and the onboard diagnostic system will have a positive impact on the market.
Read: Automotive In-vehicle Air Purifier Market - Global Outlook and Forecast 2021-2026
Growing Adoption of AVI Systems
The introduction of automatic vehicle identification (AVI) system will contribute to the growth of the global automotive keyless entry system market. The increasing threat from organized crime and growing number of mass-scale disastrous terrorist groups is fueling the demand for AVI systems in the global market. The government and law-enforcing agencies are implementing regulations that are mandating the adoption of these advanced systems in vehicles in the global market. The two major components of the AVI systems are in-vehicle card transmitter and driver identification card. The information from these two transmitters matches these two pieces of information in the back-end security controller and then allows the vehicle to move forward. The extensive application of these systems for various application such as country border crossing, city entry toll gates, military bases, law-enforcement establishments, parking buildings, and corporate offices will propel demand in the global market. These innovative systems also help to embed the vehicle information and driver data thereby, driving the growth of the automotive keyless entry system market.
Request for your free sample today!
Growing Electrification of Automotive Mechanics
The increasing advances in technology are boosting the electrification of automotive mechanics and propelling the growth of the global automotive keyless entry system market. The electrification of mechanical components and the introduction of electronics in safety, security, and propulsion technologies will revolutionize the global automotive industry. The advent of alternative powertrain vehicles such as hybrid and fully electric vehicles is driving innovations in the global market and enabling the launch of sophisticated electronic systems. Some of the most technologically advanced systems in the global automotive market are keyless entry systems, infotainment systems, safety systems, ADAS, in-dash controls, telematics, and autonomous vehicles. The reduced cost of semiconductor and integrated circuit components will help vendors to introduce these systems in the mid-priced and low-cost vehicles in the global automotive keyless entry system market.
The leading vendors in the automotive keyless entry system market are Aptiv, Continental AG, Hella, Valeo, and ZF TRW Automotive.
The complete overview of the latest market research report on automotive keyless entry system market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
About Arizton
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Mail: enquiry@arizton.com
Call: +1-312-465-7864