Key Highlights of the report
How are the major segments performing in the Automotive Keyless Entry System market?
- In 2022, the OEM segment accounted for the largest market share as the demand for car keyless entry systems among OEM manufacturers was due to an increase in vehicle thefts.
- In 2022, the Passenger Cars segment was anticipated to hold a prominent share in the global Automotive Keyless Entry System market because of the rising need for vehicle security systems and the rising sales of passenger cars.
- In 2022, the Remote Keyless Entry (RKE) System segment accounted for the largest share of the market because of increased convenience, greater access management, and improved security.
What is the Market Size of the Automotive Keyless Entry System regarding value?
The global Automotive Keyless Entry System market is anticipated to grow at a substantial CAGR of 12.50% in the upcoming years. The global Automotive Keyless Entry System industry was estimated to be worth USD 1465.2 million in 2022 and was expected to be worth USD 3341.67 million by 2030.
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Which region dominated the Automotive Keyless Entry System market?
In 2022, the North American region was anticipated to hold a prominent share in the global Automotive Keyless Entry System market. Due to the region’s expanding purchasing power parity (PPP), increased engagement by its top automakers, and advantageous technological infrastructure, North America will dominate the market for automobile keyless entry systems.
How is US Market Performing in the Automotive Keyless Entry System market?
The U.S. is predicted to dominate the market for automobile keyless entry systems in North America. This can be ascribed to consumers favoring premium vehicles and the growing uptake of vehicle security systems. Also, the presence of luxury automakers in this area promotes market expansion in the United States.
How is the economy impacting the global Automotive Keyless Entry System growth?
The coronavirus pandemic resulted in a temporary lockdown in the countries, severely impacting many commercial sectors and industry verticals. The automotive sector faces several difficulties, including a workforce shortage and even disrupted supply chain services. The supply chain for global automakers has also been impacted, particularly for OEMs, which depend heavily on China for their manufactured goods, components, or raw materials. On the other hand, the recent trend of refraining from touching surfaces may soon have a minor effect on the market expansion. Auto sales suffer a large fall during a recession as many consumers leave the market.
What is the competitive environment of the Automotive Keyless Entry System market?
To strengthen their competitive positions, the major corporations are concentrating on the creation of new products as well as on expansion, acquisition, and joint ventures. Also, several market participants strongly focus on R&D operations to create novel items and broaden their product lines. For example, in January 2021, Samsung reached a deal with Audi, BMW, Ford, and Genesis to deliver technology enabling consumers to unlock and start their vehicles without a key instead of through a smartphone or with a digital key. Similarly, Continental AG announced in June 2020 that it planned to launch a smartphone-based auto key in 2021. Three significant automakers from Asia Pacific and Europe have given Continental AG a fresh manufacturing order for its smartphone-based Continental Smart Access (CoSmA) car entry system. In 2021, the business aimed to release a smartphone-based auto key.
Executive Summary
What are the key trends in the Automotive Keyless Entry System market?
- The industry is predicted to have a bright future thanks to the rising demand for connected cars and the integration of smartphones, which will drive suppliers to release sophisticated and integrated electronic systems.
- Due to the development of sophisticated ignition systems and high-end models that have revolutionized the automotive industry, the market for vehicle keyless entry systems is predicted to experience tremendous growth. The built-in auto keyless entry system is practical and prevents car theft. The automobile keyless entry systems market may see significant development prospects due to recent innovations like remote engine start and multi-door opening capabilities.
How is the Increasing Need for Safety & Security Driving the Automotive Keyless Entry System Market?
The primary factors driving market expansion are rising car sales and increased safety and security concerns, particularly in emerging nations. Advanced keyless access control system uses include safety systems like opening the tailgate, adjusting the front and back seats, tire pressure monitoring systems, car alarms, light control, and storing multimedia files. Federal Motor Vehicle Safety Regulations, the Bharat New Car Assessment Program, and the Canadian Motor Vehicle Safety Standards are other strict vehicle safety laws (FMVSS). The usage of automotive keyless vehicle entry systems is anticipated to increase, driving the market’s growth throughout the forecast period.
Which are the key investments by the Automotive Keyless Entry System market players?
Keyless entry access systems are receiving significant investment from top automakers. Several automakers are introducing new models and updated iterations of existing models with keyless entry access system technology. The Keyless Entry Access System is being researched and developed by South Korean automakers Kia and Hyundai. Keyless entry access systems were introduced by Kia with the Carnival in February 2020 and Hyundai with the new Creta in March 2020.
Some major players in the Automotive Keyless Entry System market are Alps Electric Co. Ltd, Continental AG, Microchip Technology Inc., Mitsubishi Electric Corporation, DENSO Corporation, Hella KGaA Hueck & Co., NXP Semiconductors, Robert Bosch GmbH, Tokai Rika, and Valeo.
What are the Major Driving Factors for the Automotive Keyless Entry System Market?
OEMs (Original Equipment Manufacturers) are more frequently incorporating these systems into their automobiles. The first benefit for OEMs is the increased security that keyless entry systems offer. The extra comfort and convenience these technologies provide drivers and passengers is another advantage they can gain from. Manufacturers can also differentiate their products from competitors by incorporating keyless entry systems into their vehicles. Their sales and market share consequently soared. In general, OEMs will probably adopt more keyless entry technologies for vehicles in the future. Additionally, it is expected that adopting car security systems in developed countries like the United States and Western Europe and emerging economies like China and India will raise demand for these systems on the market. Telematics, keyless entry systems, digital clusters, and high-end entertainment systems are becoming increasingly common in the global auto market.
What are the Major Risks for the Automotive Keyless Entry System Market?
Vehicles such as passenger automobiles and commercial trucks have evolved over the past 20 years from mechanical to more technologically powered machinery. Cyberattack risk is increased because these keyless access devices typically use RF or Bluetooth signal power for data transmission with the vehicle. Keyless access systems are also expensive to fix and maintain, and consumers find it challenging to adapt to them. All of these significant concerns serve as market limitations.
Which is the key application in the Automotive Keyless Entry System market?
The passenger automobiles application segment commands the most market share and is anticipated to continue dominating the industry. This can be attributed to rising passenger car sales and demand for vehicle security systems. The market for automobile keyless entry systems is expanding due to the rising demand for entry-and-go keyless systems. It is anticipated that the market will see the introduction of new product portfolios due to the growing emphasis on enhancing the functionality of these systems through their integration with other vehicle components. Vendors could construct the present ignition system and convert it into a push-button owing to the development of automotive electronics. This technology is coupled with an ignition system, which turns the ignition on in response to signals from the key fob. During the projection period, such high-end systems will change the automotive sector.
How is the Automotive Keyless Entry System market performing in regions?
Asia Pacific market is anticipated to witness the fastest growth in the global Automotive Keyless Entry System market during the forecast period. Due to the adoption of strict safety regulations, the growing popularity of high-end vehicles, and significant companies like Mitsubishi Electric, Continental AG, Alpine Automotive Inc., and Denso Corporation, the Asia Pacific market is anticipated to become the most lucrative regional market. During the projection period, the market expansion will be fuelled by rising markets like India, Japan, South Korea, and China.
What is the regulatory landscape for the Automotive Keyless Entry System market?
Local rules for short-range devices, such as the FCC rules in the US, can impose design restrictions. Although there are no license requirements for using short-range devices, each country has its own set of rules and legislation that apply to the items. Code of Federal Regulations (CFR), Title 47, Part 15, which covers the 260MHz to 470MHz band (Section 15.231) and the 902MHz to 928MHz band, is the pertinent regulation for the US. Some FCC regulations place restrictions on RKE designs. Following Section 15.231, the device may send ID codes, radio-control signals, and command or control signals, but not audio or video, toy-control signals, or continuous data. Moreover, transmission times cannot be longer than five seconds, and periodic transmissions lasting no longer than one second (max) at regular intervals are only permitted if they occur no more frequently than once every hour.
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What are the major players planning for the future of the Automotive Keyless Entry System market?
The demand for automotive keyless access systems is expected to increase over the forecast period for a number of reasons, including rising vehicle sales in developing economies, the convenience offered by keyless access systems, and the expansion of regulatory policies that emphasize vehicle safety.
| REPORT ATTRIBUTE |
DETAILS |
| Automotive Keyless Entry System Market by Volume |
Yes |
| Automotive Keyless Entry System Market by Value |
Yes |
| Automotive Keyless Entry System Market, Tornado Analysis |
Yes |
| Automotive Keyless Entry System Market, STAR Analysis |
Yes |
| Automotive Keyless Entry System Market, SRC Analysis |
Yes |
| Automotive Keyless Entry System Market, Import-Export Data |
Yes (On Demand) |
| Automotive Keyless Entry System Market Pricing Analysis |
Yes (On Demand) |
| Automotive Keyless Entry System Market Segment Analysis |
By Sales Channel (OEM and Aftermarket)
By Vehicle Type (Passenger Cars, LCV, and HCV)
By Product Type (Remote Keyless Entry (RKE) System and Passive Keyless Entry (PKE) System) |
| Automotive Keyless Entry System Market, Regional Analysis |
North America (US and Canada)
Europe (Germany, UK, France, Italy, Spain, and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, South East Asia, and Rest of Asia Pacific)
Latin America (Brazil, Mexico, and Rest of Latin America)
Middle East and Africa (GCC Countries, South Africa, and Rest of Middle East and Africa) |
| Automotive Keyless Entry System Market Key Companies |
Alps Electric Co. Ltd, Continental AG, Microchip Technology Inc., Mitsubishi Electric Corporation, DENSO Corporation, Hella KGaA Hueck & Co., NXP Semiconductors, Robert Bosch GmbH, Tokai Rika, and Valeo |
| Automotive Keyless Entry System Market Competitive Landscape |
Market Share Analysis
Competitive Benchmarking
Key Players Market Positioning
Geographical Presence Analysis
Major Strategies Adopted |
Segmentation of Global Automotive Keyless Entry System Market-
Global Automotive Keyless Entry System Market – By Sales Channel
Global Automotive Keyless Entry System Market – By Vehicle Type
Global Automotive Keyless Entry System Market – By Vehicle Type
- Remote Keyless Entry (RKE) System
- Passive Keyless Entry (PKE) System
Global Automotive Keyless Entry System Market – By Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
