Automotive Keyless Entry Systems Market Growth Analysis | 2022-2028

Market Insights

The automotive keyless entry systems market in the automotive industry offers a good growth opportunity and is expected to witness a 10% CAGR during 2022-2028.

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The automotive industry has been leveraging the potential of electric and electronic components in most of the application areas to enhance passenger comfort and increase safety and security features in vehicles. One such example is the keyless entry system that was introduced about 20 years back. The keyless entry system uses an integrated circuit that transfers electromagnetic signals to lock or unlock the vehicle door. This system provides high convenience and enhances the security of the vehicle.

The growth of the automotive keyless entry systems market is primarily driven by-

• Increasing automotive production.
• Stringent vehicle theft prevention regulations.
• Focus on high comfort and convenience.
• Demand for high-security vehicles.

Segments' Analysis

By System Type

Remote keyless entry system (RKE) is the dominant entry system worldwide and offers optimum solutions to all low-cost auto vehicles. Passive keyless entry system (PKE) is likely to witness the fastest growth during the forecast period as it offers higher convenience and better security to the vehicle than traditional remote keyless entry systems. There would be a continuous shift from a remote keyless entry system to a passive keyless entry system in the next five years.

By Vehicle Type

The passenger car segment is expected to remain the largest market for keyless entry systems during the forecast period. High demand for better comfort and security vehicles and increasing car production will continue to drive the demand for keyless entry systems in the passenger car segment.

Regional Insights

Asia-Pacific region is expected to be the growth engine of the global keyless entry systems market in the next five years, driven by emerging economies, such as China and India. China is the world’s largest automotive market having good growth potential in the next five years.

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Market Scope & Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented in the following ways:

By Vehicle Type:

• Passenger Car
• Light Duty Vehicles
• Medium & Heavy Duty Vehicles

By System Type

• Remote Keyless Entry (RKE)
• Passive Keyless Entry (PKE)

 By End Market

• OEM
• Aftermarket

 By Region

• North America (Country Analysis: The USA, Canada, Mexico)
• Europe (Country Analysis: Germany, France, United Kingdom, Italy, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, Korea, India, and the Rest of the Asia-Pacific)
• Rest of the World (Country Analysis: Middle East, Latin America)

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Key Players

The supply chain of this market comprises raw material suppliers, keyless entry system manufacturers, distributors, and automotive OEMs.

The key automotive OEMs are-

• Toyota
• Daimler
• GM
• Ford
• Hyundai
• Chrysler

The key keyless entry system manufacturers are-

• Continental AG
• Hella Group
• Delphi
• Valeo
• TRW Automotive
• Alps Electric
• Mitsubishi Electric Corporation.

New product development, capacity expansion and regional expansion are the key strategies adopted by the key players to gain competitive edge in the market.

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

We leverage the multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data.

More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

This report, from Stratview Research, studies the global keyless entry systems market in the automotive industry over the period 2017 to 2028. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3)
• SWOT analysis of key players (up to 3)

Regional Segmentation

• Current market segmentation of any one of the regions by product type

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.