"Market Intelligence for High-Geared Performance"

Automotive Keyless Entry System Market Size, Share & COVID-19 Impact Analysis, By Product (Passive Keyless Entry Systems, Remote Keyless Entry Systems), By Application (Passenger Cars, Commercial Vehicles) and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI101979

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global automotive keyless entry system market size was USD 1,340.6 million in 2020. The global impact of COVID-19 has been staggering and unprecedented, with the automotive keyless entry system industry expected to witness a negative demand shock across all regions amid the COVID-19 crisis. Based on our analysis, the global market exhibited a decline of 5.6% in 2020. The market is projected to grow from USD 1,369.6 million in 2021 to USD 3,061.4 million in 2028 at a CAGR of 12.2% in the 2021-2028 period. The sudden rise in CAGR is attributable to this market’s growth and demand, returning to pre-pandemic levels once the COVID-19 crisis is over.


The automotive keyless access system is an electronic lock that allows the user of the vehicle to gain physical access and that enables the unlocking and locking operation without needing the conventional mechanical key. The automotive keyless access system unlocks the automobile using biometric scanning, electronic locks, radio frequency identification locks, and Bluetooth unlocking systems, which secure access to the vehicle. Further, the automotive keyless access system industry is growing rapidly around the world, especially in Germany and the United States.


Moreover, growing vehicle sales in developing economies, the convenience offered by keyless access systems, and the increasing regulatory policies that focus on vehicular safety are major factors anticipated to boost the demand for automotive keyless access systems over the forecast period.


Growth of Automotive keyless entry system Market is Expected to Slow Down During COVID-19


The coronavirus pandemic led to a temporary lockdown situation of the countries which hampered several industry verticals and businesses on a large scale. The automotive industry faces several challenges like labor shortage and even interrupted supply chain services. Further, this has had an impact on the global automobile manufacturer’s supply chain, especially those OEMs that mainly rely on China as manufactured goods, components, or raw materials. On the other hand, the new norm of avoiding touching surfaces may slightly impact the market growth shortly.


LATEST TRENDS


Request a Free sample to learn more about this report.


Growing Demand for Luxury and Premium, and Electric Vehicles Expected to Drive Market Growth


Over the past five years, the automotive industry has witnessed an average growth of more than 3%, with a growing consumer preference for luxury and premium vehicles. This can be attributed to the integration of advanced safety systems in these vehicles. Thus, the rise in the production of luxury and premium vehicles is expected to fuel the automotive keyless entry system market growth in coming years.


DRIVING FACTORS


Rising Safety and Security Concerns Favoring the Deployment of Keyless Vehicle Entry System


The growing vehicle sales, and increasing safety and security concerns, especially in the emerging economies are the major factors responsible for driving the market growth. The keyless access control system is available with advanced applications that feature safety systems such as opening the tailgate, front & rear seat settings, tire pressure monitoring systems, car alarms, light control, and storing multimedia files. Further, stringent automotive safety regulations like Canadian Motor Vehicle Safety Standards, Bharat New Car Assessment Program (BNCAP), and Federal Motor Vehicle Safety Standards (FMVSS). This, in turn, is expected to boost the adoption of automotive keyless vehicle entry systems, subsequently fueling the market growth during the forecast period.


RESTRAINING FACTORS


Increasing Risk of Cyberattacks and High Repair and Maintenance Costs to Restrain Growth


Over the past two decades, passenger cars and commercial vehicles have been transformed from mechanical machines to more electronically driven machines. The data communication between these keyless access systems and the vehicle is generally powered by RF or Bluetooth signal, thereby increasing the risk of cyberattacks. Further, the consumer finds it difficult to get used to the keyless access system, and the repair and maintenance costs of these systems are very high; all these major factors are restraints for the market.


SEGMENTATION


By Product Analysis


To know how our report can help streamline your business, Speak to Analyst


Improved security with better access control features makes the remote keyless entry system segment dominate the market


Based on product type, this system market is segmented into passive keyless entry systems (PKES) and remote keyless entry systems (RKES). The RKES segment holds the major share in the market due to improved security, better access control, and high convenience. It is highly preferred by the end-users and deployed in all types of vehicles, including economical and luxury cars. Remote keyless entry is a vehicle security access system that operates through digital keys available on the mobile phone. The user, through the app, can access the vehicle and also start the engine.


Passive keyless entry is an automotive security system that activates and unlocks the vehicle doors when the user in possession of a key reaches within the proximity of the system operation area around the car. It also supports engine start simply through a push button and doesn’t require access to be inserted in the vehicle. Additionally, its cost-effective nature over the PKES and increased functionality over the traditional keys drive the segment growth over the forecast period.


By Application Analysis


Growing passenger car sales worldwide to boost the demand for keyless vehicle access control


Based on the application, the market for automotive keyless entry system is segmented into passenger cars and commercial vehicles. The passenger cars application segment accounts for the major market share and is also projected to dominate the market. This is attributable to the growing sales of passenger cars and the increasing demand for vehicle security systems.


REGIONAL INSIGHTS


Asia-Pacific Automotive Keyless Entry System Market Size, 2020 (USD Million)

To get more information on the regional analysis of this market, Request a Free sample


Based on the geography, this market is segmented into North America, Europe, Asia Pacific and the Rest of the World. The North American region will dominate the automotive keyless entry system market due to the rising purchasing power parity (PPP) of the people, increased participation of the region’s leading automotive companies, and favorable technological infrastructure. Further, the United States, Mexico, and Canada are the major revenue contributors to the market. Moreover, growing internet penetration and a surging number of smartphone users drive the growth of the automotive sector, further fueling the market growth.


In the Asia Pacific, the market is expected to emerge as the most lucrative regional market due to the adoption of stringent safety norms, increasing penetration of luxurious cars, and major players, such as Mitsubishi Electric, Continental AG, Alps Automotive Inc., and Denso Corporation. The presence of emerging markets such as India, Japan, South Korea, and China will drive the market growth over the forecast period. Moreover, Europe is expected to become the second-fastest-growing market in terms of growth, with a CAGR of 12.4% during 2021–2028. Besides, it has been observed that countries in the Rest of the World (RoW) are adopting advanced vehicle safety features like intrusion alarms, theft assists, keyless entry, and others that are propelling the growth of the market.


KEY INDUSTRY PLAYERS


Focusing on innovative product launch to expand its customer base & strengthen its product offering helping Continental AG to dominate the market


Continental AG, DENSO CORPORATION, and HELLA GmbH & Co. KGaA are the key market players in the market. The key companies are focusing on new product developments, expansions, acquisitions, and collaborations to strengthen their position in the market. Also, several players in the market are highly focused on research and development activities to develop innovative products so as expand their product offerings.


LIST OF KEY COMPANIES PROFILED:



  • DENSO CORPORATION (Aichi, Japan)

  • HELLA GmbH & Co. KGaA (Lippstadt, Germany)

  • ZF Friedrichshafen AG (Friedrichshafen, Germany)

  • Continental AG (Hanover, Germany)

  • ALPS ALPINE CO., LTD. (Tokyo, Japan)

  • Mitsubishi Electric Corporation (Tokyo, Japan)

  • Valeo S.A (Paris, France)

  • Microchip Technology Inc. (Arizona, USA)

  • Robert Bosch GmbH (Gerlingen, Germany)

  • NXP Semiconductors (Eindhoven, Netherlands)


KEY INDUSTRY DEVELOPMENTS:



  • October 2020: Geotab Inc. Launched Keyless Access System Geotab Inc. launched a keyless access system for rental companies, car-sharing operators, and pool fleets. The digital key offers an instant solution for companies looking for the COVID-safe, contactless way to transfer ‘keys’ between users.

  • June 2020: Continental AG planning to introduce smartphone-based car key in 2021 Continental AG has won a new production order for its Continental Smart Access (CoSmA) smartphone-based vehicle access system from three major automobile manufacturers from the Asia Pacific and Europe. The company planned to introduce a smartphone-based car key in 2021.


REPORT COVERAGE


An Infographic Representation of Automotive Keyless Entry System Market

To get information on various segments, share your queries with us



The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market in recent years.


Report Scope & Segmentation










































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Million)



By Product




  • Passive Keyless Entry Systems

  • Remote Keyless Entry Systems Fast



By Application




  • Passenger Cars

  • Commercial Vehicles



By Geography




  • North America (By Product, By Application)

    • U.S. (By Application)

    • Canada (By Application)

    • Mexico (By Application)



  • Europe (By Product, By Application)

    • U.K. (By Application)

    • Germany (By Application)

    • Rest of Europe (By Application)



  • Asia-Pacific (By Product, By Application)

    • Japan (By Application)

    • China (By Application)

    • India (By Application)

    • Rest of Asia- Pacific (By Application)



  • Rest of the World (By Product, By Application)



Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 1,340.6 million in 2020 and is projected to reach USD 3,061.4 million by 2028.

In 2020, the Asia-Pacific market size stood at USD 364.0 million.

The market is projected to grow at a CAGR of 12.2% and will exhibit exponential growth in the forecast period (2021-2028).

The RKES segment is expected to be the leading segment in this market during the forecast period.

The increasing regulatory policies that emphasize vehicular safety will propel market growth.

Continental AG is the leading player in the global market.

North America dominated the market share in 2020.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
Automotive Keyless Entry System Market Size, Share and Global Industry Trend Forecast till 2026
  • Jun, 2021
  • 2020
  • 2017-2019
  • 150

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Automotive & Transportation Clients

Hyundai
Toshiba
GM
Deloitee
KIA

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X