Automotive Keyless Entry System Market Overview
In 2023, the Automotive Keyless Entry System Market was valued at USD 1.80 billion and is projected to grow at a CAGR of 10% from 2024 to 2030. This growth is driven by the rising demand for modern automobiles, fueled by urbanization and technological advancements. As consumer purchasing power increases, there is a growing desire for luxury features and automation in vehicles, leading to a significant shift from traditional key systems to more advanced keyless entry systems.
Automotive keyless entry systems (KES) allow users to lock/unlock vehicles and open trunk compartments remotely, a convenience that has gained popularity since the 1980s. With advancements in technology, these systems now often include features like remote engine start. Typically operating via short-range radio transmitters, these systems enhance vehicle security and user convenience.
Market Dynamics
1. Technological Advancements:
The ongoing shift toward electronically operated vehicles, including electric vehicles (EVs), has increased the demand for automotive keyless entry systems. The integration of these systems with mobile devices and IoT capabilities is becoming more prevalent, particularly in battery-powered vehicles.
2. Growth of Electric Vehicles (EVs):
The rise in EV adoption, especially in developed markets like the USA and Europe, is fostering growth in the automotive KES market. In 2021, global EV sales surged by 108%, reflecting a substantial shift in consumer preference toward sustainable transportation solutions.
3. Stringent Security Norms:
Growing concerns regarding vehicle security have led to stricter regulations in developed nations. Organizations like the National Highway Traffic Safety Administration (NHTSA) are actively working to mitigate cybersecurity risks in vehicles, which in turn enhances the demand for advanced keyless entry systems.
Market Segmentation
The Automotive Keyless Entry System Market is segmented as follows:
By Product Type:
- Remote Keyless Entry Systems (RKE): The dominant segment, expected to grow at a CAGR of 5.8%.
- Passive Keyless Entry Systems (PKE): More advanced systems that automatically lock/unlock doors when the user is in proximity.
By End-User:
- Original Equipment Manufacturers (OEMs)
- Aftermarket
By Vehicle Type:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Regional Analysis
- North America: The USA leads the automotive KES market, with robust recovery post-pandemic and a significant focus on technological enhancements. The market is characterized by high demand for advanced features in modern vehicles.
- Europe: Similar to North America, Europe has witnessed a demand surge for keyless entry systems driven by safety standards and a growing market for EVs.
- Asia-Pacific: This region is expected to experience rapid growth due to urbanization, increased disposable income, and a rising demand for luxury vehicles. China and India are identified as key markets, with China being the largest producer and exporter of automotive KES.
Key Players
The competitive landscape of the Automotive Keyless Entry System Market includes notable companies that focus on innovation and technological advancements:
- Alps Electric (Japan)
- Aptiv PLC (Ireland)
- Atmel Corporation (USA)
- Continental AG (Germany)
- Denso Corporation (Japan)
- Hella KGAA Hueck & Co (Germany)
- Hyundai Mobis (South Korea)
- Microchip Technology (USA)
- Mitsubishi Electric Corporation (Japan)
- NXP Semiconductors (Netherlands)
- Robert Bosch GmbH (Germany)
- Valeo (France)
These companies continuously invest in research and development to stay competitive and meet the evolving demands of the automotive market.
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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