Automotive Keyless Entry System Market size is poised to surpass USD 4 Billion by the end of 2033, witnessing around 10% CAGR during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of automotive keyless entry system was USD 1 Billion. The growth of the market can be attributed to the up-surged production of smart electric vehicles, backed by the higher adoption rate of smart vehicle technology and safety & protocols. The automotive keyless entry system is a basic need in the upcoming models of cars when automobiles are getting smarter Y-O-Y. For instance, in 2021, approximately 6 million units of electric vehicles (EVs) were sold out across the globe and it was further projected that in every 200 cars on the road, 1 of them is the smart electric vehicle.
An automotive keyless entry system is used to remotely lock, unlock, and start a car’s engine without using a mechanical key, using radio frequency (RF) signals. Nowadays, most keyless entry systems use a transmitter fob to generate the lock and unlock signals. Modern keyless entry systems use a key fob with two or more buttons to control the locks, trunk, or windows, sending a radio frequency signal to a receiver unit within the car, usually from a range of about 15 to 45 feet, when one of the buttons is pushed. With the increasing advancements in technology as well as rising demand for vehicles, the demand for keyless entry systems is on the rise among automobile users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive keyless entry system market during the forecast period. For instance, as per the data released in 2022 by the Federation of Automobile Dealers Associations (FADA), there was an increase in total vehicle retail, 204%, and 278% in passenger vehicles (PV) and commercial vehicles (CV) respectively in India.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
10% |
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Base Year Market Size (2022) |
USD 1 Billion |
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Forecast Year Market Size (2033) |
USD 4 Billion |
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Regional Scope |
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Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles)
The global automotive keyless entry system market is segmented and analyzed for demand and supply by vehicle type segment into passenger cars, light commercial vehicles, and heavy commercial vehicles. Amongst these segments, the passenger cars segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing number of cars along with the surge in the sale of passenger cars worldwide. Automotive keyless entry systems can be installed separately on these cars with some sort of additional assistance. For instance, the global unit sales of passenger cars are expected to reach around 70,000,000 vehicles in 2026. Hence, the escalation in production and sales volume of these cars is associated with the higher demand for automotive keyless entry systems.
Sales Channel {Original Equipment Manufacturer (OEM), Aftermarket}
The global automotive keyless entry system market is also segmented and analyzed for demand and supply by sales channel into original equipment manufacturer (OEM) and aftermarket. Out of these sub-segments, original equipment manufacturer (OEM) is estimated to witness significant growth globally over the forecast period. The growth of the segment is ascribed to the need for the credibility of automotive keyless entry systems since original equipment manufacturers are more authentic than aftermarket sellers. Purchasing automotive keyless entry systems from original equipment manufacturers also prevents the possibility of pre-installed bugs that can compromise the safety of the car.
Our in-depth analysis of the global market includes the following segments:
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By Sales Channel |
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By Vehicle Type |
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APAC Market Statistics
The Asia Pacific automotive keyless entry system market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the presence of a strong mobility network in the region, the growing number of vehicles, as well as the rising demand for advanced technologies amongst vehicle owners. For instance, it was found that more than 2.5 million passenger vehicles in China were sold with driving-assist functions in the first half of 2022. Furthermore, China was stated to be the largest country to produce automobile units which were evaluated to be around 30% of the global vehicle production at the annual rate. Hence, such a higher production is projected to boost the demand for automotive keyless entry system market in the region. The main factor for the largest share of China in the automotive industry is ascribed to the working skills and the number of innovations taking place in the country. Furthermore, the sales volume of automobiles is also very high in the Asia Pacific backed by the growing inclination of population toward the luxurious cars and escalated requirements for passenger vehicles. For instance, in 2021, nearly 34 million units of passenger cars were sold out across Asia pacific.
·ALPS ALPINE CO. LTD.
ALPS ALPINE CO. LTD. to develop a wireless digital key system in the collaboration with well-known security technology group, Giesecke+Devrient (G+D). The system is developed for the upcoming vehicle model for 2050 and the technology is based on the Car Connectivity Consortium (CCC) specification.
Continental AG to launch its key as a service to commercial vehicles. The launch of this service was announced by the company at one of its virtual press events. This key service allows the vehicle owner to start the engine via a smartphone or Bluetooth card.
Author Credits: Harshita Srivastava, Saima Khursheed
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