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Automotive Keyless Entry System Global Market Report 2024 | Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, ZF Friedrichshafen AG
Automotive Keyless Entry System Global Market Report
The Business Research Company presents an extensive market research report on the Automotive Keyless Entry System Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The automotive keyless entry system market size has grown rapidly in recent years. It will grow from $1.53 billion in 2023 to $1.7 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to consumer demand, automotive industry growth, regulatory standards, increasing vehicle production, growing awareness of vehicle security.
The automotive keyless entry system market size is expected to see rapid growth in the next few years. It will grow to $2.65 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to smart connectivity, emerging markets, electric and autonomous vehicles, rising consumer expectations, global increase in vehicle ownership. Major trends in the forecast period include integration with connected car technologies, technological advancements, continued technological innovations, biometric integration, advanced encryption techniques.
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Key Market Players:
Major companies operating in the automotive keyless entry system market report are Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis Co. Ltd., Mitsubishi Electric Corporation, Valeo SA, Lear Corporation, TRW Automotive Holdings Corp., STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Brose Fahrzeugteile GmbH & Co. KG, Alps Electric Co. Ltd., Omron Automotive Electronics Co. Ltd., Alps Alpine Co. Ltd., HELLA GmbH & Co. KGaA, Johnson Electric Holdings Limited, Atmel Corporation, Marquardt GmbH, U-Shin Ltd., Kiekert AG, Delphi Automotive plc, Alpha Corporation, Huf Hülsbeck & Fürst GmbH & Co. KG, Tokai Rika Co. Ltd., Minda Corporation Limited, Valeo Siemens eAutomotive Germany GmbH, Silca S.p.A.
Market Drivers:
The rising inclination towards safety and security in vehicles is driving the growth of the automotive keyless entry system market. There is more interest in the safety and security of vehicles to avoid any theft of systems within the vehicle or the vehicle itself. The safety features are being bundled and made standard on even the cheapest vehicles, trucks, and crossovers to enable safety and security. The rising interest in the safety and security of vehicles creates more need for keyless entry systems as these systems use radio frequency signals to remotely lock, unlock, and start the vehicle's engine to enable protection while also offering convenience. For instance, according to the According to Insurance Information Institute In 2022, 1,001,967 vehicles were stolen in the US, which is a 7% increase from 2021. Thus, the rising proclivity towards safety and security in vehicles will drive the automotive keyless entry system market growth.
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https://www.thebusinessresearchcompany.com/report/automotive-keyless-entry-system-global-market-report
The automotive keyless entry system market covered in this report is segmented -
1) By Product: Passive Keyless Entry Systems, Remote Keyless Entry Systems
2) By Vehicle Type: Passenger Cars, LCV, HCV
3) By End-Users: Aftermarket, Original Equipment Manufacturer (OEMs)
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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