Automotive Keyless Entry System Market to Witness high growth by 2027 | Industry Overview by Top Players - Robert Bosch GmbH, Tokai Rika, DENSO Corporation, HELLA GmbH & Co. KGaA, ZF Friedrichshafen AG, Continental AG, ALPS ALPINE

A comprehensive overview of the Automotive Keyless Entry System Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Automotive Keyless Entry System Market. The report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Automotive Keyless Entry System Market at the regional levels. The Automotive Keyless Entry System Market is expected to grow at a CAGR of ~13% between 2021-2027

Market Overview
The keyless entry feature allows vehicle owners to lock and unlock their vehicle without physically using the key. They can lock the vehicle by walking away with the key and it will unlock once the key is in close proximity. The key can be set to unlock one door, multiple doors, or even the trunk on entry. Global automotive keyless entry system market is majorly driven by the steady growth in the vehicle sales with the overall demand for the advance electric systems. Autonomous driving (AD), connected cars, and electrification of powertrain are the major trends that are mutually reinforcing developments in the automotive industry. All these trends are not only disrupting the automotive value chain and affecting all stakeholders but also are major drivers for the market. Furthermore, rising adoption of electric vehicles in also driving the demand for automotive keyless entry system.

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COVID-19 Impact
The initial effects of COVID-19 began in first quarter of 2020, when one after another, lockdowns were imposed all around the world to contain the spread of coronavirus. This resulted in complete shutdown of automotive industry as automakers as well as component and raw material suppliers halted their production in major auto markets such as China, India, Germany, France, among others. This scenario have had a negative impact on the market, as the market growth is proportional to vehicle production.

Automotive Keyless Entry System Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Product Type, the market is primarily bifurcated into:
• Passive Keyless Entry System (PKE)
• Remote Keyless Entry System (RKE)

Based on product type, the automotive keyless entry system market is bifurcated into Passive Keyless Entry System (PKE) and Remote Keyless Entry System (RKE). In 2020, RKE accounted for largest share in the global automotive keyless entry system market. This is mainly due to the high adoption and integration of RKE systems in budget vehicles as well as light commercial vehicles. Moreover, RKE systems are easily available in aftermarket and thus with consumer with conventional lock systems upgrade to RKE systems due to its improved security, high convenience, and easy availability.

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By Vehicle Type, the market is primarily studied into:
• Passenger Vehicles
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles

Based on vehicle type, the market is categorized into passenger vehicle, light commercial vehicle, and medium & heavy commercial vehicles. Among these, light commercial vehicle category is expected to witness highest CAGR during the forecast period. This is mainly due to the increasing focus of governments on electrification of public transport fleets coupled with the rising demand for zero emission vehicles in the e-commerce and logistics sector.

By Sales Channel, the market is primarily categorized into:
• OEM
• Aftermarket

Based on sales channel, the market is bifurcated into OEMs and aftermarket. In 2020, the OEMs category dominated the market during the historical period, primarily due to high production of vehicles and direct integration of the keyless entry systems in manufacturing of the vehicle.

Automotive Keyless Entry System Market Region Segmentation Includes:
• North America
• Europe
• Asia-Pacific
• Rest of World

Based on the estimation, in 2020, owing to high vehicle production Asia-Pacific region dominated the market. The dominant position of the region is mainly due to to the vast population and steady rise of automotive industry in the region coupled with advancement in economic conditions of people in emerging countries such as China, Indonesia, Thailand, and India.

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The major players targeting the market includes:
• Robert Bosch GmbH
• Tokai Rika Co. Ltd.
• DENSO Corporation
• HELLA GmbH & Co. KGaA
• ZF Friedrichshafen AG
• Continental AG
• ALPS ALPINE Co. Ltd.
• Mitsubishi Electric Corporation
• Valeo S.A.
• Microchip Technology Inc.

Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the global context. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Automotive Keyless Entry System Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.

Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and advancements in the Automotive Keyless Entry System Market?
• Which factors are influencing the Automotive Keyless Entry System Market over the forecast period?
• What are the challenges, threats, and risks in the Automotive Keyless Entry System Market?
• Which factors are propelling and restraining the Automotive Keyless Entry System Market?
• What are the demanding regions of the Automotive Keyless Entry System globally?
• What will be the market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by the companies?

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