PUBLISHER: Allied Market Research | PRODUCT CODE: 1365760
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365760
The Automotive keyless entry system market is expected to experience a significant growth rate of 11.9% from 2023 to 2032 owing to rise in environmental regulations and legislation- Allied Market Research
OEM products account for a larger portion of global automotive security product sales. Because of the automotive industry's rapid growth, industry players have primarily focused on developing OEM products for new vehicles. To meet consumer demand, market participants have concentrated on the introduction of automotive keyless entry systems.
Furthermore, aftermarket automotive keyless entry system products have seen a surge in popularity, owing primarily to the replacement of existing traditional automotive locking systems. Vehicles are increasingly being outfitted with cutting-edge connected technology and services. In general, there is little product differentiation between OEM keyless entry systems used in new vehicles and those used in aftermarket keyless entry system products. As a result, keyless entry systems in aftermarkets can be widely accepted because consumers value the convenience of keys.
The increasing use of keyless vehicle access control systems has led companies such as Continental AG to form alliances and contracts with technology companies. This strategic move is intended to gain a competitive advantage during the forecast period, providing significant opportunities for players in the automotive keyless entry systems aftermarket segment.
Moreover, growing passenger security concerns and the adoption of high-end technology in HCVs are important factors driving the growth of the HCV keyless entry system industry. Automotive keyless entry system manufacturers are strategically active in product introduction and expansion operations for the effective distribution of the HCV keyless entry system incorporated into trucks, catering to changing needs of HCV owners. For instance, in September 2021, BYD unveiled two battery-electric heavy-duty trucks, the Gen3 8TT and 6F vehicles at ACT Expo. These trucks offer keyless entry and push-to-start functions and have up to 185kW CCS1 charging capability.
Asian consumers are progressively adopting connected automotive technologies, motivated by a desire for improved safety, convenience, and other innovative features. Remote and passive keyless entry systems are becoming increasingly popular in nations such as China, Japan, South Korea, and India.
The production activities of vehicles are expected to have a direct influence on the overall demand for keyless entry system technology in vehicles. Moreover, increase in penetration of electric vehicles is expected to support the growth of automotive keyless entry system in the coming years. China and India are expected to witness considerable growth; thereby, The global automotive keyless entry system market is segmented on the basis of sales channel, vehicle type, product type, technology, device type, and region. Depending on sales channel, the market is segregated into OEM and aftermarket. By vehicle type, it is categorized into passenger cars, LCV, and HCV. Depending on product type, it is fragmented into remote keyless entry (RKE) system and passive keyless entry (PKE) system. By technology, the market is divided into NFC, UWB, Bluetooth, and RFID. By Device type, it is divided into Keyfobs, Phone-as-key, and smart card. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the automotive keyless entry system market report include Alps Alpine Co., Ltd., Continental AG, Denso Corporation, HELLA GmbH & Co. KGaA., Microchip Technology Inc., Mitsubishi Electric Corporation, NXP Semiconductors, Robert Bosch GmbH, Kiekert AG, Valeo S.A., Marquardt Management SE, and Tokai Rika.
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