Driven by the Increasing automotive production, Automotive Keyless Entry Systems Market zooms at CAGR of 6.8%

Market & Growth Prognosis: Analyzing the market over a period of 2010-15 Stratview Research goes to the crux of the issues shaping the market and estimates the most probable future growth rate for the Automotive Keyless Entry Systems Market during the period 2016-21.

Stratview Research triangulates the market to grow at a healthy CAGR of 6.8% over the next five years.

The Diverse Stand Points

The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Keyless Entry Systems has been viewing from various perspectives such as:

Dissection By (Segments)
1. Vehicle Type (Passenger Car, Light Duty Vehicles, Medium & Heavy-Duty Vehicles)
2. Product Type (Remote Keyless Entry, Passive Keyless Entry)
3. End Market (OEM, Aftermarket)
4. By Region (North America, Europe, Asia-Pacific and Rest of the World)

Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.

The answers to the prominent questions which are evinced out of above slicing of the market are:
● Which are the best performing segments of the market?
● Which is the most dominant region?
● Which material is the most promising?
● Who are the movers and shakers of the market?
● What are the regional growth hotspots?
● What are the segmental growth forecasts?

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The Factors Driving the market

The automotive industry has been leveraging the potential of the electric and electronic components in most of the application areas to enhance passenger comfort and to increase safety and security features in the vehicles. One such example is the keyless entry system that was introduced about 20 years back. The keyless entry system uses integrated circuit that transfers the electromagnetic signals to lock or unlock the vehicle door. This system provides high convenience and enhances the security of the vehicle.

The global keyless entry systems market in the automotive industry offers a good growth opportunity and is expected to witness 6.8% CAGR during the forecast period of 2016 to 2021. Increasing automotive production, stringent vehicle theft prevention regulations, focus on high comfort and convenience, and demand for high security vehicles are the major drivers of the global keyless entry systems market.

The rise of passive keyless entry system

Remote keyless entry system (RKE) is the dominant entry system worldwide and offers optimum solutions to all the low cost auto vehicles. Passive keyless entry system (PKE) is likely to witness the fastest growth during the forecast period as it offers higher convenience and better security to the vehicle than traditional remote keyless entry system. There would be a continuous shift from remote keyless entry system to passive keyless entry system in the next five years.

Passenger car segment is expected to remain the largest market for keyless entry systems during the forecast period. High demand for better comfort and security vehicles and increasing car production will continue to drive the demand of the keyless entry systems in the passenger car segment.

Driven by demand, Asia-Pacific has the hegemony over the market

Asia-Pacific region is expected to be the growth engine of the global keyless entry systems market in the next five years, driven by emerging economies, such as China and India. China is the world’s largest automotive market having a good growth potential in the next five years.

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The Report Highlights:

The Research Report offers a detailed look into market, its robust growth perspective, the factors influencing the industry, the competition intensity and a peek into the future.
The following are the key features of the report:
● Strategic segmentation
● Market analysis: Growth drivers and constraints, Porter’s five forces
● analysis, SWOT analysis
● Detailed Competitive Rivalry landscaping
● Market trend and forecast analysis
● Future Growth Boulevards

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