Automotive Keyless Entry System Market Overview with Detailed Analysis, Competitive landscape Forecast to 2028

The automotive keyless entry system comprises an electronic locking feature, which safeguards access to the vehicle electronically and substitutes the conventional mechanical key. The integration of smartphones and rising demand for connected cars would encourage vendors to launch advanced automotive keyless entry systems in the market. In addition, the growing regulatory policies, which focused on vehicle safety and increased sales of luxury cars, are driving the market growth.

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Companies Profiled in this report includes:  ALPS ALPINE CO., LTD.,  Continental AG, Delphi Automotive, Denso Corporation, HELLA GmbH and Co. KGaA, Lear Corporation, Marquardt GmbH, Mitsubishi Electric Corporation, NXP Semiconductors, Valeo

MARKET SEGMENTATION

On the basis of product type, the market is segmented as passive keyless entry (PKE) system and remote keyless entry (RKE) system.

On the basis of end user, the market is segmented as aftermarket and original equipment manufacturer (OEMs).

On the basis of vehicle type, the market is segmented as passenger cars and commercial vehicles.

MARKET DYNAMICS

Drivers:

growing regulatory policies that focus on vehicle safety

increased sales of luxury cars

rising focus on increasing the functionality of an automotive keyless entry system by integrating it into other vehicle components

Restraint -

high initial investment

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IMPACT OF COVID-19ON AUTOMOTIVE KEYLESS ENTRY SYSTEM MARKET

COVID-19 severely impacted the automobile industry by the end of 2020 as there were several travel bans and other lockdown related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the automotive and transportation industry, including Automotive Keyless Entry System manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, automotive manufacturers have been focusing on reducing costs and expenses, which includes cutting back on production spending. Due to long duration of halts in the supply chain of major automotive production, the Automotive Keyless Entry System suppliers have been facing a reduction in demand. However, as the lockdown measures start getting lifted, the demand for passenger cars with improved safety features is expected to rise. Since Automotive Keyless Entry Systems are one of the vital components of safety features in luxury passenger cars and heavy duty commercial vehicles, the market of Automotive Keyless Entry System is expected to regain momentum.

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