Automotive & Transportation

Automotive Keyless Entry System Market Analysis by Product Type {Remote Keyless Entry (RKE) System, and Passive Keyless Entry (PKE) System}; by Sales Channel {Original Equipment Manufacturer (OEM), and Aftermarket}; and by Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4636 | Published On: Jan 30, 2023

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • 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.


Global Automotive Keyless Entry System Market Definition

An automotive keyless entry system is a vehicle access control system that provides a handheld device or Bluetooth card to lock, unlock, or start the vehicles. Automotive remote keyless entry system works from a certain distance to perform these tasks. A keyless entry system for cars is the best solution for the elimination of mechanical keys. The first model of the automotive keyless entry system combined a numeral pad generally installed on the front passenger door.

An automotive keyless entry system generates radio signals to transmit the signals from the car to be searched by the key fobs. The key fobs must be in a range of around 5 meters to detect the signals. When the owner of the car places his hand on the door or handle of the keyless car, a short-range radio signal will be sent out from the automobile, and as soon as the fob receives it, the onboard computer of the vehicle unlocks the door.

Additionally, keyless boot opening systems are also emerging in the market to accompany keyless entry systems. In this system, the owner is required to shake his foot under the car’s rear bumper to open the car automatically. Some other major variety of the keyless entry system provides drivers to hear back when the car is locked to offer peace of mind and one of the main instances of such a feature is PRO T11, a 2-way LCD, 3-mile range remote kit.


Global Automotive Keyless Entry System Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~10%

Base Year Market Size (2022)

~ USD 1 Billion

Forecast Year Market Size (2033)

~ USD 4 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Automotive Keyless Entry System Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global automotive keyless entry system market is estimated to garner a revenue of USD 4 Billion by the end of 2033 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 1 Billion in the year 2022. 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.

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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.


Automotive-Keyless-Entry-System-market-overview
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Global Automotive Keyless Entry System Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Penetration of Vehicles with Keyless Ignition – and new methods of unlocking vehicles as technology continues to progress. With the rising demand for vehicles with keyless ignition, the global automotive keyless entry system market is expected to escalate in the forecasted period.  It was found that in 2014, nearly 70% of new vehicles in the United States had keyless ignition as part of their optional equipment, while the rate jumped to over 90% in 2019.

  • Rising Trend of Remote Keyless Car Central Locking Systems – which in 2018, came as standard or as an option in about 70% of cars worldwide. The notion of a car central locking system is also flourishing with the growth in awareness of such technologies across the globe.

  • Upsurge in the Demand for Smart Vehicles – according to the 2022 data, of all smart vehicles with different levels of automation sold till now across the world, more than 56% were sold in China.

  • Increasing Volume of Connected Vehicles – for instance, of all passenger cars sold in the United States, ~91% were connected, making it just a little more than 13 million connected vehicles sold in 2020.

Challenges

  • Concern about Hacking & Stealing

The major concern associated with the higher adoption of automotive keyless entry systems is that they can be easily hacked. To hack the system, cybercriminals clone the encrypted radio signals to unlock the car. Furthermore, it can also be broken by implementing DoS attacks. Such vulnerability to these third-party attacks leads to higher cases of car theft. For instance, in 2020, nearly 800,000 cars were stolen across the globe.

  • Concern about Connected Technologies and Their Implications
  • High Cost of Production and Related Costs


Market Segmentation

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.

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 automotive keyless entry system market includes the following segments:

 

 

      By Product Type

  • Remote Keyless Entry (RKE) System
  • Passive Keyless Entry (PKE) System

 

       By Sales Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

 

      By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles


Global Automotive Keyless Entry System Market Regional Synopsis

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 systems 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.

Automotive-Keyless-Entry-System-market-share

Automotive-Keyless-Entry-System-market-share
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Top Featured Companies Dominating the Global Automotive Keyless Entry System Market

    • ALPS ALPINE CO. LTD.

      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Continental AG
    • HELLA GmbH & Co. KGaA
    • Mitsubishi Electric Corporation
    • NXP Semiconductors N.V.
    • Robert Bosch GmbH
    • Microchip Technology Inc.
    • DENSO Corporation
    • VALEO
    • Honda Motor Co., Ltd.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the automotive keyless entry system market?

Ans: Growing penetration of vehicles with keyless ignition is the major factor driving the market growth.

2) What would be the CAGR of automotive keyless entry system market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the automotive keyless entry system market growth?

Ans: Concern about connected technologies and their implications are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of automotive keyless entry system market in future?

Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the automotive keyless entry system market?

Ans: The major players in the market are Continental AG, HELLA GmbH & Co. KGaA, Mitsubishi Electric Corporation, NXP Semiconductors N.V., Robert Bosch GmbH, Microchip Technology Inc., DENSO Corporation, VALEO, Honda Motor Co., Ltd., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the automotive keyless entry system market?

Ans: The market is segmented by product type, sales channel, vehicle type, and others.

8) Which segment captures the largest market size in vehicle type segment in the automotive keyless entry system market?

Ans: The passenger cars segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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