The Automotive Keyless Entry Systems Market size was valued at USD 1.9 Billion in 2022. The automotive keyless entry systems industry is projected to grow from USD 2.03 Billion in 2023 to USD 3.44 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.85% during the forecast period (2023 - 2032). The increasing vehicle sales, technological advancements in the transportation industry, and growing demand for convenience features, especially in emerging economies, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for automotive keyless entry systems is driven by growing automobile sales and improving safety and security concerns, particularly in emerging economies. The keyless access control system has developed applications that feature safety systems, including tailgate opening, tire pressure monitoring systems, front & rear seat settings, car alarms, light control, and storing multimedia files. Further, stringent automotive security 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 automobile entry systems, fueling market growth during the forecast period.
Additionally, introducing vehicles with cutting-edge features for effective security and comfort to passengers drives the market growth. Multiple companies have been designing and presenting advanced vehicles equipped with various vehicular technologies, which has increased the growth of the global market. Moreover, technology-driven corporations such as HELLA GmbH & Co. KGaA, Continental AG, NXP Semiconductors, NXP Semiconductors, and Robert Bosch GmbH are concentrating on boosting their existing automotive keyless entry system, which is anticipated to open further avenues for the firm to expand its business. For instance, in June 2021, HELLA GmbH & Co. KGaA established a digital car key with ultra-wideband technology. Similar developments and product introductions carried out by these organizations help the development of the global automotive keyless entry system market.
Furthermore, the acceptance of smart technology for vehicle safety and enhanced convenience drives the automotive keyless entry systems market revenue. The automotive industry has seen significant growth in the adoption of high-end technologies like autonomous driving, ADAS, and linked mobility, among other things. These smart technology integrations are growing the requirement for advanced automobile permit control solutions for more efficient operation, improved vehicle security, and improved convenience.
The Automotive Keyless Entry Systems Market segmentation, based on vehicle type, includes passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment dominated the market, accounting for 35% of market revenue (0.71 Billion). In developing economies, category growth is driven by the growing sales of passenger automobiles and the growing demand for vehicle security systems. However, a light commercial vehicle is the fastest-growing category over the forecast period, as LCVs have low maintenance and operating costs and are more fuel efficient.
The Automotive Keyless Entry Systems Market segmentation, based on product type, includes a passive keyless entry (PKE) system and a remote keyless entry (RKE) system. The remote keyless entry (RKE) system category generated the most income (70.4%). This is due to enhanced security, better access control, and increased convenience. It is favorably preferred by the end-users and deployed in all kinds of vehicles, including economical and luxury automobiles. However, the passive keyless entry (PKE) system is the fastest-growing category over the forecast period. Passive keyless entry is an automotive security system that starts and unlocks the vehicle doors when the utilizer in possession of a key reaches the proximity of the system operation area near the car. It also helps the engine start entirely through a push button and doesn't need access to be inserted in the vehicle.
The Automotive Keyless Entry Systems Market segmentation, based on sales channels, includes original equipment manufacturers (OEM) and aftermarket. The aftermarket segment dominated the market, accounting for major market revenue over the forecast period. This is due to an increase in the average lifespan of vehicles, coupled with the rising concerns related to safety and maintenance. However, original equipment manufacturers (OEM) over the forecast period due to increasing automotive manufacturing, particularly in China and India.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific automotive keyless entry systems market area will dominate this market due to the presence of outdated and basic safety systems in economic and low-end cars has led to increasing keyless stealing incidents. Moreover, China’s automotive keyless entry systems market held the largest market share, and the Indian automotive keyless entry systems market was the fastest-growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's automotive keyless entry systems market accounts for the second-largest market share due to the low cost of bariatric surgery and the rise in the number of diabetes people. Further, the German automotive keyless entry systems market held the largest market share, and the UK automotive keyless entry systems market was the fastest-growing market in the European region.
The North American automotive keyless entry systems market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the growing need to adopt advanced technologies in developing car security systems is rising day by day in the wake of increasing car thefts, especially cyber threats through hacking. Further, the Canadian automotive keyless entry systems market held the largest market share, and the US automotive keyless entry systems market was the fastest-growing market in the North American region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the automotive keyless entry systems market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the automotive keyless entry systems industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global automotive keyless entry systems industry to benefit clients and increase the market sector. Key players in the automotive keyless entry systems market, including Continental Automotive GmbH, Denso Corporation, Atmel Corporation, HELLA KGAA Hueck & Co., Alps Electric Co. Ltd, Omron Automotive Electronics Co. Ltd, and others, are attempting to increase market demand by investing in research and development operations.
HELLA GmbH & Co KGaA is a global, family-owned company that develops and manufactures lighting and electronic components and systems for the automotive industry. The company also develops products for specialist vehicles. It also provides automotive parts, accessories, diagnosis, and services. It provides novel lighting and electronic products to construction machinery producers, municipalities, and energy suppliers. Its products include headlamps, rear combination lamps, and car body and interior lighting products for automobile manufacturers. In June 2021, HELLA launched a digital car key with ultra-wideband technology. With this, end-users can lock and unlock their vehicles completely hands-free and can also start the engine without having to pick up a traditional remote key or a smartphone. From a distance of 50 meters, the vehicle automatically notices and identifies the mobile device.
Alps Alpine Co Ltd manufactures and supplies audio, information, and communication equipment and electronic components. The company designs, develops, and produces a variety of components for notebook PCs, smartphones, automobiles, and car navigation systems. Its major products include modules, camera actuators, sensors, controller reactors, camera/drive recorders, premium sound speakers, displays, amplifiers for in-vehicle sound systems, OEM sound system speakers, and in-vehicle infotainment systems. The company also provides storage, transportation, and forwarding services through its logistics business. In May 2022, Alps Alpine Co., Ltd. declared the joint development of a wireless digital key design with Giesecke+Devrient GmbH. This co-developed system relents to the global Car Connectivity Consortium standard. Both organizations plan to boost sales of the system to adjust it for vehicles to be established in the market in 2025.
January 2021: Audi, BMW, Ford, and Genesis agreed with Samsung to offer technology to let people unlock and start their vehicles without a key; instead, they will be unlocked using smartphones, i.e., through a digital key.​
October 2020:Â Geotab Inc. introduced a keyless access system for rental firms, car-sharing operators, and pool fleets. The digital key shows an instant resolution for firms looking for a COVID-safe, contactless method to share 'keys' between utilizers.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.9 Billion |
| Market Size 2023 | USD 2.03 Billion |
| Market Size 2032 | USD 3.44 Billion |
| Compound Annual Growth Rate (CAGR) | 6.85% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Sales Channel, Vehicle Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Alps Automotive Inc., TRW Automotive Holdings Corporation, Calsonic Kansei Corporation, Lear Corporation, Delphi Automotive LLP, Mitsubishi Electric Group, Atmel Corporation, Valeo SA, Continental Automotive GmbH, Omron Automotive Electronics Co. Ltd., Marquardt Switches Inc., and Denso Corporation. |
| Key Market Opportunities | Rising awareness of new technologically advanced features |
| Key Market Dynamics | Increased automotive production and sales, especially in developing countries |
Automotive Keyless Entry Systems Market Highlights:
Frequently Asked Questions (FAQ) :
The Automotive Keyless Entry Systems Market size was valued at USD 1.9 Billion in 2022.
The global market is projected to grow at a CAGR of 6.85% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Alps Automotive Inc., Delphi Automotive LLP, Mitsubishi Electric Group, Atmel Corporation, Valeo SA, Continental Automotive GmbH, Omron Automotive Electronics Co. Ltd., Marquardt Switches Inc., and Denso Corporation.
The passenger cars category dominated the market in 2022.
The aftermarket had the largest share of the global market.
The remote keyless entry (RKE) system had the largest share of the global market.
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
