Automotive Keyless Entry System Market in APAC to Grow at a CAGR of 10% by 2023 | Arizton

The global automotive keyless entry system market is anticipated to grow at a CAGR of more than 7% during the forecast period.

Arizton’s recent market research report on the automotive keyless entry system market provides a detailed analysis of market segmentation by product (RKE systems and PKE systems), by end-user type (OEM market and aftermarket), vehicle type (passenger cars, LCVs, and HCVs), and by geography (APAC, Europe, North America, Latin America, and MEA).

Request for your free sample today!
https://www.arizton.com/market-reports/automotive-keyless-entry-system-market

The report considers the present scenario of the global automotive keyless entry system market and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.

Major Vendors in the Automotive Keyless Entry System Market

Aptiv
Continental
Hella
Valeo
ZF TRW Automotive

Prominent Players in the Automotive Keyless Entry System Market

Advanced Keys
Alps Electric
Bosch
Calsonic Kansei
Denso
Directed Electronics
Hyundai Mobis
Lear Corporation
Marquardt
Microchip Corporation (ATMEL)
Mitsubishi Electric
OMRON Automotive Electronics
Panasonic
Tokai Rika
Voxx International

The automotive keyless entry system market is divided into four major segments that consist of products, end-user type, vehicle type, and geography.

Market Segmentation by Product

RKE System
PKE System

PKE systems to grow at an impressive CAGR in the automotive keyless entry system market during the forecast period
The product segment in the automotive keyless system market is classified into RKE systems and PKE systems.

Passive keyless entry (PKE) systems are the fastest growing segment of the market at a CAGR of over 11% during the forecast period.

PKE systems are the most advanced keyless systems available in the global market. These systems are designed to eliminate the chances of hacking of the system from long ranges thereby, propelling the growth of the global market. These systems use RFID shields that are used to protect credit cards and protects the vehicles from encrypted signals. The technology companies to develop technologies that can prevent and improve the reliability of PKE systems and attract new consumers in the global market. The new entrants of the market are offering add-on security features to the vehicles to gain a larger market share. The implementation of connectivity and IoT technologies with PKE systems is expected to gain popularity in the global automotive keyless system market during the forecast period.

Request for a free sample today!
https://www.arizton.com/market-reports/automotive-keyless-entry-system-market

Market Segmentation by End-User Type

OEM Market
Aftermarket

Aftermarket to grow at a considerable CAGR in the automotive keyless entry system market during the forecast period

The automotive keyless entry system market by end-user is divided into OEM market and aftermarket. The aftermarket end-user type is the fastest growing segment of the market at a CAGR of more than 11% during the forecast period. The replacement or upgrade or add-on of keyless systems in vehicles in the aftermarket is propelling the growth of this segment in the global market. Technological advancement is driving the upgrade market in the automotive industry. The introduction of low-cost Bluetooth-enabled systems is propelling the functionality vehicles in the global market. The launch of smartphone integrated with these systems will eliminate the use of key fobs for vehicles and revolutionize the automotive industry in the global automotive keyless entry system market.

Market Segmentation by Vehicle Type

Passenger Cars
LCVs
HCVs

Passenger cars segment to dominate the automotive keyless entry system market size during the forecast period

The automotive keyless entry system market by vehicle type is classified into passenger cars, LCVs, and HCVs. The passenger car segment was the largest user of these systems in the market in 2017 and is anticipated to grow at a CAGR of more than 7% during the forecast period. The exponential economic development of the emerging nations of the APAC countries such as China, India, Indonesia, South Korea, Thailand, and Vietnam is propelling the growth of this segment in the global market. The steady growth of GDP in these countries and rise of the disposable income will boost the demand for keyless systems in the passenger cars in this region. The prominent players are introducing advanced features in the area of safety, security, propulsion, connectivity, and environment for passenger cars to attract more consumers and sustain the competition in the global market.

Market Segmentation by Geography

North America
US
Europe
Germany
APAC
China
Japan
South Korea
Latin America
Brazil
MEA

APAC to grow at the fastest CAGR in the automotive keyless entry system market during the forecast period

The automotive keyless entry system market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. APAC is the fastest growing segment of the market at a CAGR of approximately 10% during the forecast period. The rapid urbanization and growing retail sales in the automotive industry are propelling the growth of the APAC region in the global market. China, Japan, South Korea, and India are the largest revenue contributor in the APAC market. The advancement in technology and the growing adoption of advanced security systems will revolutionize the automotive market in APAC over the next few years. The wide availability of RKE systems in mid-segment vehicles in countries such as China, South Korea, Thailand, and India is encouraging vendors to launch innovative systems in the APAC market. The growing demand for HEVs and other luxury vehicles will create lucrative opportunities for leading OEMs in the global market.

Order a report now: https://www.arizton.com/market-reports/automotive-keyless-entry-system-market

Source: Arizton Advisory & Intelligence: https://www.arizton.com/news/press-release/automotive-keyless-entry-system-market-apac

About Arizton Advisory & Intelligence

Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize foolproof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

Arizton Advisory & Intelligence
Chicago, Illinois, 60605
Mail: enquiry@arizton.com
Call: +1-312-465-7864

This release was published on openPR.