By 2025, approximately 60% of vehicles will be connected, leading to increased demand for keyless entry systems in the market.
Arizton’s recent market research report on the global 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 (OEM and aftermarket), by vehicle (passenger cars, LCVs, and HCVs), and by geography (APAC, Europe, North America, Latin America, and MEA).
The global automotive keyless entry system market is anticipated to produce around 180 million units by 2024, growing at a CAGR of approximately 8% during 2019-2024.
A keyless entry system provides vehicle access without using a traditional mechanical key, offering higher security and convenience. North America is expected to dominate due to the high adoption rate of keyless enter systems, while Europe will witness a strong market demand in the aftermarket keyless entry system due to factors such as government regulations and aging vehicle population.
The top three drivers and trends propelling the global automotive keyless entry system market are discussed below:
Customer’s shifting interest towards hybrid & connected cars
The automotive digital technology which was initially focused on optimizing the vehicle’s internal functions has shifted focus toward communication technologies to enhance the driving experience. These technologies are focused on developing the car’s ability to establish a connection with electronic devices and other vehicles. A connected vehicle ensures optimizing the operation and maintenance of the vehicle as well as enhancing the convenience and comfort of passengers. It is expected that 60% of vehicles will be connected by 2025, leading to increased demand for sophisticated automotive solutions as well as keyless entry systems in the market. The connected cars use integrated circuits to establish a connection and communicate with other devices; therefore the interconnectedness between systems is expected to increase.
Increasing convenience measures due to keyless entry systems
The most important benefit from a keyless entry system is considered to be the convenience it offers to the users. A driver is able to unlock or lock vehicle doors with minimal effort which makes it quicker to enter and exit the vehicle. The evolution of PKE system has offered convenience to the users, and they can lock or unlock vehicle doors just by placing the key fob in the pocket. Drivers also find this system most convenient during emergencies or harsh external weather conditions where quick entry into the vehicle is critical, making keyless entry an ideal system for drivers. Few major OEM’s offering keyless entry technology is Audi, Acura, BMW, KIA, Mercedes-Benz, Volvo, and so on. The immobilizer functionality in the keyless entry system prevents unauthorized access and activation of the ignition system which increases the security of the vehicle which is another reason for these systems to become popular among the consumers.
Growing Electrification of Automotive Mechanics
Automotive electronics has rapidly evolved over the past decade with the electrification of mechanical components and the introduction of electronics in safety, security and propulsion technologies. The automotive industry is witnessing a drive for innovation in the field of keyless entry systems, infotainment systems, safety systems, ADAS, in-dash controls, telematics, and lately autonomous vehicles. OEMs and Tier-1 suppliers have been actively investing in technologies to either reduce the weight of the vehicle or introduce an electronically-controlled vehicle mechanism to obtain higher accuracy in functioning. As the government regulations are getting stringent, OEMs are exploring alternative propulsion technologies such as flexible fuel, natural gas engines, hybrid electric, and all-electric vehicles. This is leading to the electric powertrain in vehicles.
Aptiv, Continental AG, Hella, Valeo, and ZF TRW Automotive are the major vendors of global automotive keyless entry system market.
The complete overview of the latest market research report on the global automotive keyless entry system market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
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