Market Insights
The automotive keyless entry systems market was estimated at USD 1.8 billion in 2023 and is likely to grow at a CAGR of 11.35% during 2024-2030 to reach USD 3.83 billion in 2030.
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Market Dynamics
Introduction
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.
Market Drivers
The major factors driving the growth of the automotive keyless entry systems market are:
- Increasing automotive production.
- Stringent vehicle theft prevention regulations.
- Focus on high comfort and convenience.
- Demand for high-security vehicles.
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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.
Note: The above list does not necessarily include all the top players in the market.
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Segment Analysis
Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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System Type Analysis
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Remote and Passive
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Passive keyless entry systems (PKE) are likely to witness the fastest growth during the forecast period.
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Vehicle Type Analysis
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Passenger Car, Light Duty Vehicle, and Medium & Heavy Duty Vehicle
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The passenger car segment is expected to remain the largest market for keyless entry systems during the forecast.
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Fit Type Analysis
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Linefit, Retrofit
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The linefit segment dominated the market and is expected to maintain its dominance during the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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Asia-Pacific region is expected to be the growth engine of the global automotive keyless entry systems market in the next five years.
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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 systems (PKE) are likely to witness the fastest growth during the forecast period as they offer higher convenience and better security to vehicles than traditional remote keyless entry systems. There will 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 automotive 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
The Asia-Pacific region is expected to be the growth engine of the global automotive 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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Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects automotive keyless entry systems market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is 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.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter 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, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Market 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 automotive keyless entry systems 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
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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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
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