Automotive Keyless Entry System Market Set to Reach $3.02 Billion by 2029 with 13.3% Yearly Growth

What market dynamics are playing a key role in accelerating the growth of the automotive keyless entry system market?
The growing preference for safety and security features in cars is fuelling the expansion of the automotive keyless entry system market. Increasing concern for vehicle safety to prevent theft of internal systems and the vehicle itself is evident. Even the most basic cars, trucks and crossovers are coming equipped with safety features as standard to ensure security. The growing interest in vehicle safety necessitates the use of keyless entry systems, which use radio frequency signals for remote locking, unlocking and starting of the engine, providing both protection and convenience. For example, data from the Insurance Information Institute shows that in 2022, an alarming 1,001,967 vehicles were stolen in the US, reflecting a 7% increase compared to 2021. Similarly, a report by the US-based National Insurance Crime Bureau in April 2024 revealed that thefts rose to over one million in 2023, up by about 1% from 2022 (1,020,729 in 2023 vs 1,008,756 in 2022). Therefore, the escalating inclination towards car safety and security will boost the growth trajectory of the automotive keyless entry system market.

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How will the growth rate of the automotive keyless entry system market shape industry trends by 2034?
The market size for keyless entry systems in the automotive sector has seen a rapid expansion in recent years. It is projected to increase from $1.66 billion in 2024 to $1.83 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.3%. The growth observed in the previous years can be ascribed to factors such as consumer demand, expansion in the automotive industry, regulatory norms, a rise in vehicle production, and heightened awareness about vehicle security.

In the upcoming years, the market size of the automotive keyless entry system is predicted to witness a swift expansion. By 2029, it is projected to climb to $3.02 billion with a compound annual growth rate (CAGR) of 13.3%. This growth during the forecast period can be attributed to factors such as smart connectivity, emerging markets, the advent of electric and autonomous vehicles, increasing consumer expectations, and a global rise in vehicle ownership. Significant trends for the forecast period encompass integration with connected car technologies, advancements in technology, ongoing technological innovation, biometric integration, and advanced encryption techniques.

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What trends are poised to drive the future success of the automotive keyless entry system market?
Growing trends in the automotive keyless entry system market are increasingly leaning towards incorporating sophisticated in-vehicle security systems. Companies involved in this sector focus on the provision of cutting-edge security systems within the vehicle, including keyless access mechanisms with engine start/stop features, air conditioning control and more. Auto manufacturers offering these built-in features are allocating substantial investment in launching newer car models or upgraded versions of existing models equipped with keyless entry technology. Consequently, customers don't need to purchase these systems as separate units, since they come integrated into the vehicles. Case in point, Genesis Motor, LLC, a car manufacturing firm based in South Korea, introduced the Genesis GV60 model in June 2023, fitted with a unique keyless access system utilizing biometric and facial recognition technology. The first of its kind globally, the system employs a camera embedded in the door pillar that scans and verifies the driver's facial features to grant car access.

Which primary segments of the automotive keyless entry system market are driving growth and industry transformations?
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: After market, Original Equipment Manufacturer (OEMs)

Subsegments:
1) By Passive Keyless Entry Systems: Smart Key Systems, Proximity Sensors, Key Fob Systems With Automatic Unlocking, Touch-Sensitive Door Handles
2) By Remote Keyless Entry Systems: Traditional Key Fobs, Smartphone-Based Entry Systems, Keyless Entry With Alarm Integration, Remote Start Features

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Which geographical regions are pioneering growth in the automotive keyless entry system market?
North America was the largest region in the automotive keyless entry system market in 2024. The regions covered in the automotive keyless entry system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the automotive keyless entry system market landscape?
Major companies operating in the automotive keyless entry system market include Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis Co. Ltd., Mitsubishi Electric Corporation, Valeo SA, Lear Corporation, 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, Marquardt GmbH, U-Shin Ltd., Kiekert AG, Alpha Corporation, Huf Hülsbeck & Fürst GmbH & Co. KG, Tokai Rika Co. Ltd., Minda Corporation Limited, Valeo Siemens eAutomotive Germany GmbH, Silca S.p.A.

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What Is Covered In The Automotive Keyless Entry System Global Market Report?

• Market Size Forecast: Examine the automotive keyless entry system market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive keyless entry system market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive keyless entry system market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive keyless entry system market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive keyless entry system market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive keyless entry system market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive keyless entry system market.
• Competitive Landscape: Review strategic developments in the automotive keyless entry system market, including expansions, agreements, and new product launches.

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